Written answers
Tuesday, 15 October 2024
Department of Finance
Tax Code
Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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217. To ask the Minister for Finance with regard to capital acquisitions tax the estimated cost of a further €65,000 increase in Group A, a further €7,500 increase in Group B and a further €3750 increase in Group C thresholds post the enactment of measures announced in Budget 2025. [41502/24]
Jack Chambers (Dublin West, Fianna Fail)
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I am advised by Revenue that the estimated cost of a further €65,000 increase in Group A, a further €7,500 increase in Group B and a further €3750 increase in Group C thresholds post the enactment of measures announced in Budget 2025 is €74.1m per annum.
A breakdown of this is shown in Table 1 below:
Table 1: Breakdown of CAT Costing
| Category | €M |
|---|---|
| Group A | 47.7 |
| Group B | 22.7 |
| Group C | 3.7 |
| Total | 74.1 |
An update of the Ready Reckoner, which enables calculation of the cost or yield arising from a range of potential changes to tax charges, is due to issue in the coming weeks on the Revenue website at:
www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx.
Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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218. To ask the Minister for Finance the estimated cost of maintaining the 9% VAT rate on electricity for a full year post the enactment of measures announced in Budget 2025. [41503/24]
Jack Chambers (Dublin West, Fianna Fail)
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I am advised by Revenue that traders are not required to separately identify the VAT yield generated from the supply of specific goods and services on their periodic VAT returns. Therefore, it is not possible to provide the VAT yield on all fuel and energy related products and services using taxpayer information alone. However, using Revenue and third-party data sources, a tentative estimate of the full year cost of maintaining the 9% VAT rate on electricity at current prices and consumption volumes would be in the region of €140m.
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