Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the estimated return to the Exchequer in a full year from the introduction of a new rate of tax of 48% on individual income in excess of €100,000. [38288/12]

Michael Noonan (Limerick City, Fine Gael)
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It is assumed that the threshold for the proposed new tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of the introduction of a new 48% rate would be of the order of €365 million. However, given the current band structures, major issues would need to be resolved as to how in practice such a new rate could be integrated into the current system and how this would affect the relative position of different types of income earners.

This figure is an estimate from the Revenue tax-forecasting model using latest actual data for the year 2010, adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and subject to revision.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the estimated return to the Exchequer in a full year by increasing the rate of capital gains tax from 30% to 40%. [38289/12]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the full year yield to the Exchequer, estimated in terms of expected 2013 gains, from increasing the CGT tax rate from 30% to 40% could be in the region of €160 million. This figure includes corporate gains. However, this estimate assumes no behavioural changes on the part of taxpayers, and large increases in rates such as are contemplated in the question may have a significant behavioural impact and may not produce a corresponding increase in tax yield. In current economic conditions any estimate of additional yield must be treated with caution. In addition, increasing the rate could, in theory, lead to a reduction in yield from the tax.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the estimated return to the Exchequer in a full year from raising the rate of capital acquisitions tax from 30% to 40% and reducing the thresholds by 25%. [38290/12]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer from increasing the Capital Acquisitions Tax rate by 10% to 40 %, based on the expected outturn in 2012, could be in the region of €100 million, assuming no change in the existing thresholds. The additional full year yield from existing taxpayers from reducing the existing thresholds by 25% and applying the proposed rate of 40% to the additional amounts thus brought into charge is estimated at €50 million.

Revenue do not receive information on gifts and inheritances which currently do not have to be declared so it is not possible to estimate the potential yield if such benefits were brought into the tax net.

These estimates are based on transactions recorded in 2010, the latest year for which the necessary detailed information is available. It should be noted that these estimates are based upon an assumption that there would be no behavioural impact of these changes, which could lead to a less than expected impact on Exchequer yield. In addition, the realization of any estimated yield from an increase in taxation on assets relating to property is subject to movements in the value of such assets, which are currently occurring in the economy.