Written answers

Thursday, 19 November 2009

5:00 pm

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)
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Question 81: To ask the Minister for Finance the estimate for each tax category for year end 2009 and in 2010 which underpins the pre-budget tax forecast. [42510/09]

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)
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Question 82: To ask the Minister for Finance the value of revenue expected to be raised in 2009 and in 2010 from income tax and from the new levy introduced in 2009. [42511/09]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 81 and 82 together.

The Supplementary Budget forecast total taxes in 2009 of €34.4 billion. With regards to Income Tax specifically, the Supplementary Budget forecast that €12.5 billion in Income Tax receipts would be collected in 2009, of which approximately €1.1 billion would come from the Income Levy. The Pre-Budget Outlook forecast that tax revenues will be in the region of €32 billion, around €2 billion below target, in 2009 and approximately €30.8 billion in 2010. At end-October, overall tax receipts were €1,074 million below target with the shortfall from Income Tax making up €625 million.

November is a key month for tax returns, in particular Income Tax, and, as usual, the November Exchequer Returns will be published on 2 December. The weakness in Income Tax is expected to continue in the final months of this year. The White Paper on Receipts and Expenditure will be published on 5 December and will set out the estimated end-year outturns for each tax-head as well as the White Paper tax forecasts for 2010 revenues on a pre-Budget basis. As is customary, Post-Budget tax forecasts for 2010 and later years will be published in Budget 2010.

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