Written answers
Thursday, 17 June 2010
Department of Finance
Tax Returns
5:00 pm
Bernard Durkan (Kildare North, Fine Gael)
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Question 92: To ask the Minister for Finance the extent to which the various revenue receipts are in accord with predictions or otherwise; the measures taken to address emerging issues; and if he will make a statement on the matter. [25996/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The table shows the performance of the main tax-heads against profile for the first five months of the year. As the Deputy can see, in overall terms, €12,117 million in tax revenue was collected, meaning there is a shortfall of €148 million or 1 per cent. Thus, tax revenues are broadly in line with expectations at this point in the year and the budgetary targets for the year as a whole remain valid. Non-tax revenue receipts at €176 million are also in line with expectations at the end of May.
End May 2010 – Analysis of Taxation Receipts
Performance against profile at end-May 2010 | Year-on-Year Performance | Annual Target | ||||||||||
Exchequer Tax Receipts | End-May Target* | End-May Outturn | Excess/ Shortfall €m | Excess/ Shortfall % | End-May 2010 €m | End-May 2009 €m | Y-on-Y Change % | 2010 Target €m | 2009 Outturn €m | Y-on-Y Change % | ||
Income Tax | 4,439 | 4,220 | -219 | -4.9% | 4,220 | 4,634 | -8.9% | 11,530 | 11,835 | -2.6% | ||
VAT | 4,821 | 4,873 | 52 | 1.1% | 4,873 | 5,306 | -8.2% | 10,090 | 10,670 | -5.4% | ||
Corporation Tax | 726 | 748 | 22 | 3.0% | 748 | 1,139 | -34.3% | 3,160 | 3,900 | -19.0% | ||
Excise** | 1,731 | 1,704 | -27 | -1.6% | 1,704 | 1,754 | -2.8% | 4,514 | 4,703 | -4.0% | ||
Stamps | 284 | 244 | -41 | -14.3% | 244 | 294 | -17.3% | 975 | 930 | 4.9% | ||
Capital Gains Tax | 84 | 111 | 27 | 32.0% | 111 | 189 | -41.4% | 340 | 542 | -37.3% | ||
Capital Acquisitions Tax | 98 | 115 | 17 | 16.9% | 115 | 106 | 8.2% | 240 | 254 | -5.6% | ||
Customs | 82 | 83 | 1 | 1.2% | 83 | 88 | -6.0% | 200 | 209 | -4.1% | ||
Levies | - | 0 | - | - | 0 | 1 | - | 1 | 1 | - | ||
Unallocated Tax Deposits*** | - | 21 | - | - | 21 | 18 | - | |||||
Total | 12,265 | 12,117 | -148 | -1.2% | 12,117 | 13,529 | -10.4% | 31,050 | 33,043 | -6.0% | ||
Any apparent small discrepancies due to rounding of constituent items | ||||||||||
* End- month targets for taxation and expenditure have been published on the Department of Finance's website | ||||||||||
**The profile for Excise Duties includes an amount of €1m in respect of the Employment Training Levy. | ||||||||||
***Unallocated Tax Deposits are distributed to relevant tax-heads over the course of the year and as such are not part of the annual target.. | ||||||||||
Bernard Durkan (Kildare North, Fine Gael)
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Question 93: To ask the Minister for Finance the degree to which tax receipts, including excise duty from the motor industry under the various headings has fluctuated over the past five years to date; and if he will make a statement on the matter. [25997/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Over the last two years tax receipts have been severely impacted by the sharp deterioration in the economic environment. The table sets out the trend in tax receipts over the last five years and the 2010 forecast for tax revenue:
2005 | 2006 | 2007 | 2008 | 2009 | 2010 Budget forecast | |
Total Exchequer Tax Receipts €m | 39,254 | 45,539 | 47,249 | 40,777 | 33,043 | 31,050 |
Year-on-Year change | 10% | 16% | 4% | -14% | -19% | -6% |
The totals include receipts from Excise Duty – details of which are set out in the following table:
2005 | 2006 | 2007 | 2008 | 2009 | 2010 Budget forecast | |
Excise Duty €m | 5,233 | 5,589 | 5,838 | 5,443 | 4,703 | 4,514 |
Year-on-Year change | 6% | 7% | 4% | -7% | -14% | -4% |
This includes: | ||||||
VRT €m | 1,149 | 1,287 | 1,406 | 1,121 | 375 | 365 |
Year-on-Year change | 21% | 12% | 9% | -20% | -66% | -3% |
Excise Duties are payable on a wide range of products, as well as certain premises and activities. These include (but are not limited to) charges arising on products such as mineral oils, alcoholic beverages and manufactured tobacco. In addition, Excise Duty includes receipts from the air travel tax, the carbon tax and from betting and licenses for retailing of liquor. Receipts from Vehicles Registration Tax (VRT) are also a component of Excise Duty.
The Revenue Commissioners have provided details of VRT receipts for the period 2005 to 2009 and these figures are also set out in the above table. The figures provided are on a Revenue Net Receipts basis, which differ from Exchequer receipts due to timing and accounting issues. The forecast for 2010 is also included. VRT represented 22% of overall Excise Duty receipts in 2005 and this had fallen to 8% of total Excise Duties by 2009. The decline in VRT receipts is due to both a reduction in activity and price as well as changes in the tax policy regarding vehicle emission levels.
At end-May 2010, €12,117 million in total tax receipts were collected against a target of €12,265 million. This included Excise Duty receipts of €1,704 million, against a target of €1,731 million. VRT receipts to end-May amounted to €226 million.
In addition, the Department of the Environment, Heritage and Local Government have provided the following data on motor tax receipts from 2005-2009 and their estimate for 2010.
2005 | 2006 | 2007 | 2008 | 2009 | 2010forecast | |
Motor Tax Receipts €m | 800 | 878 | 957 | 1,059 | 1,057 | 1,025 |
Year-on-Year | 7% | 10% | 9% | 11% | -0.2% | -3% |
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