Written answers

Thursday, 5 July 2012

5:00 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Question 63: To ask the Minister for Finance the approximate level of VAT generated for the Exchequer from the sale of new residential housing in each of the past ten years in tabular form; the number of cases for each year; and if he will make a statement on the matter. [32919/12]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that it is not possible to furnish precise figures of the VAT take from residential property transactions, as the information furnished on VAT returns does not require the yield from particular sectors of trade to be identified. However, based on data published by the Department of the Environment, Heritage and Local Government, the estimated yield from residential property transactions, which includes sales of new and social housing, is set out in the following table alongside the numbers of house completions for each year.

YearVAT Yield€mNumber of House Completions
20021,10157,295
20031,54168,419
20041,94076,554
20052,40580,557
20062,72793,019
20072,48777,627
20081,28951,324
200965226,420
2010*33314,602
2011*15910,480

* Figures are provisional

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