Written answers
Tuesday, 16 October 2018
Department of Finance
Budget 2019
Brendan Howlin (Wexford, Labour)
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166. To ask the Minister for Finance the additional carry-over cost in 2020 of the tax measures introduced in budget 2019; the cost by tax measure, in tabular form; and if he will make a statement on the matter. [42271/18]
Paschal Donohoe (Dublin Central, Fine Gael)
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I can advise the Deputy that the carryover to 2020 of tax measures introduced in Budget 2019 is estimated to be in the region of €51 million. It is important to point out that the exact impact of carryover will be reviewed as part of the normal Budgetary process, as there are several moving parts to be considered, such as economic growth, take up of various schemes and specific tax relevant factors, which could impact on the expected return from the measures. A summary of these measures and their impact is set out in the following table.
Tax-Head | Carryover effect €m |
---|---|
Income Tax/USC | -67 |
VAT | 92 |
Excise Duties | 28 |
Capital Acquisitions Tax | -1 |
Corporation Tax | -1 |
Total | 51 |
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