Written answers
Thursday, 18 April 2019
Department of Finance
Life Insurance Policies
Michael McGrath (Cork South Central, Fianna Fail)
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79. To ask the Minister for Finance the yield from life assurance exit tax in 2018; the forecasted yield in 2019; and if he will make a statement on the matter. [18340/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by the Revenue Commissioners that the yield from Life Assurance Exit Tax was approximately €165 million in 2018. The projected yield for Life Assurance Exit Tax in 2019 is €195 million.
Michael McGrath (Cork South Central, Fianna Fail)
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80. To ask the Minister for Finance the yield from the 1% levy on life assurance policies in each of the years from 2015 to 2018; the projected yield in 2019; and if he will make a statement on the matter. [18341/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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Section 124B Stamp Duties Consolidation Act 1999 provides for a levy of 1% on life insurance premiums paid by Irish policyholders to life insurance companies located in the EU and EEA.
Information in relation to Stamp Duty receipts, including the yield from the Life Assurance Levy from 2015 to 2018, can be found on the statistics page of the Revenue website at .
For the deputies convenience I can confirm that the table in the link contains the figures shown.
Year | 2015 | 2016 | 2017 | 2018 |
---|---|---|---|---|
Yield | 30.70 million | 21.37 million | 12.42 million | 11.78 million |
The projected yield from the Life Assurance Levy in 2019 is €13.4 million.
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