Tax Data

Tuesday, 22 October 2024

Ceisteanna (232)

Jim O'Callaghan

Ceist:

232. Deputy Jim O'Callaghan asked the Minister for Finance the full year cost of reducing capital gains tax to 30%, 28% and to 25%. [42501/24]

Amharc ar fhreagra

Freagraí scríofa

I am advised by Revenue that the estimated yield from increasing the rate of Capital Gains Tax is published on page 14 of the Ready Reckoner. 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 by 25 October 2024 on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx.

While the exact changes sought by the Deputy are not provided, they can be estimated on a straight-line or pro-rata basis. These estimates do not take account of any potential change in behaviour by the taxpayers concerned in response to changes in the tax rate.