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Questions

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Written Answers

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Corporate Tax Compliance

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788

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1

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Questions\Written Answers\Corporate Tax Compliance

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Corporate Tax Compliance

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Senator

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Minister for Finance (Deputy Michael Noonan)

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Minister for Finance (Deputy Michael Noonan)

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Michael Noonan

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Snippet Contents:

I am informed by the Revenue Commissioners that the relevant information is contained in Tables CTS 1,CTS 2 and CTS 3 of the Statistical Reports published annually by the Commissioners and which can be found on the Revenue website at www.revenue.ie. The latest year for which information is published from that source is for 2009 which is contained in the 2010 report. The corresponding information for 2010 is set out in the following tables. This will be published in the 2011 report on the website. Data for the year 2011 and 2012 is not yet available. Included with these tables is a new explanatory table which outlines the process by which the final liability to corporation tax is arrived at for 2010.
Explanatory Note Regarding the Calculation of Total Taxable Income Figure Shown in Table CTS3.
The following is a brief explanation of how the total taxable income figure of €41,215m shown in table CTS3 is calculated. In table CTS3 certain allowances, deductions and reliefs are allowed at various points in the table and in some cases in a different panel. For example figures of trading charges are shown in the trading results panel of table CTS3 but they do not affect the calculations shown in CTS3 until after the “deductions” panel preceding the total taxable income figure.
The calculation details all of the deductions and allowances that were actually allowed on the 2010 CT returns against total gross profits before arriving at total taxable income . It should be noted that the amounts shown for certain allowances such as capital allowances or losses in the table below differ from the amounts shown in table CTS3 as this calculation shows the amounts actually used and absorbed against trading income. Table CTS3 presents the figures as claimed in their entirety. Various credits are also applied after the calculation of gross tax at the various rates but these are not shown but are listed on table CTS3.
Calculation of Total Taxable Income Figure Shown in Table CTS 3
-€m€m
Gross Trade Profits70,804[The trade profits and balancing charges included in section A of CTS 3]
Less deductible amounts as follows:
Capital Allowances12,296[The portion of capital allowance claims included in section A of CTS3 that are used in the year against trading income]
Plus
Trade Loss Forward		3,870[The portion of loss forward claims included in section A of CTS3 that are used in the year against trading income. These are called trading losses on table CTS3.]
Plus
Current Year Trading Losses		131[The portion of current year trading losses claims included in section A of CTS3 that are used in the year against trading income. These are called losses appropriate to this trade on table CTS3.]
Plus
Trade Charges		11,695[The portion of trade charges claims included in section A of CTS3 that are used in the year against trading income]
Plus
Group Relief		2,747[The portion of group relief claims included in section A of CTS3 that are used in the year against trading income. This does not include group relief that is used against non-trading income]
Equals
Total amounts deducted 		(30,739)
Net trading Income after losses, charges and group relief but before non-trade charges and other deductions40,065[This is net trading income from section A on table CTS3 after charges, losses and group relief but before and non-trade charges and other deductions]
Gross Rental Income 699[From section B of CTS 3]
Less Rental Allowances Used
Rental Losses Forward and rental capital
Allowances 		(152)[The portion of these allowances from section B of CTS3 that are used in the year]
Plus Net Rental Income547
Plus Other Profits / Capital Gains5,849[From Section C of CTS 3]
Less Deductions
Management Expenses415[From Section E of CTS 3]
Plus
Excess Capital Allowances		 15[From Section E of CTS 3]
Plus
Other Deductions		4,804[From Section E of CTS 3 – such as non-trade charges including non-trade charges from other group companies]
Plus
Excepted Trade Losses		12[From Section E of CTS 3]
Equals(5,246)
Net Taxable Income/profits41,215

CORPORATION TAX STATISTICS, 2010
Table CTS1 – Distribution Of Incomes and Tax
Range Of Net Trading Income and Gains (before deductions and charges) -Manufacturing Trading Profits Other Trading Profits (Including Shipping)Net Trading Income (before deductions and charges)Net Case V     (Rent)Regrossed Capital GainsTotal Income and Gains( before deductions and charges)Total Taxable IncomeTax Due Including Refunds
NegativeNo.
512
17,893
95,278
4,477
547
17,385
16,297
16,920
or NilAmnt.(€m)
885.6
7,401.6
0.0
446.9
503.2
4,913.5
3,632.3
245.8
€1  -No.
206
13,622
13,883
270
40
13,871
13,308
12,699
€25,000  Amnt.(€m)
103.1
1,363.5
108.5
8.3
17.5
249.2
173.5
25.8
€25,001  -No.
105
3,519
3,598
119
14
3,596
3,428
3,292
€50,000  Amnt.(€m)
9.4
198.2
128.9
3.5
1.2
151.3
140.4
18.8
€50,001  -No.
74
1,945
2,009
111
11
2,008
1,922
1,869
€75,000  Amnt.(€m)
9.3
170.1
123.2
4.7
8.4
144.7
133.1
19.3
€75,001  -No.
51
1,318
1,356
78
10
1,354
1,288
1,252
€100,000  Amnt.(€m)
7.6
156.6
117.5
3.1
0.5
126.9
116.2
16.6
€100,001  -No.
153
2,663
2,758
182
24
2,757
2,653
2,601
€200,000  Amnt.(€m)
32.8
511.3
392.0
6.4
12.3
434.2
396.6
50.1
€200,001  -No.
65
1,272
1,319
110
16
1,318
1,264
1,238
€300,000  Amnt.(€m)
26.1
387.6
322.7
5.5
1.5
342.2
307.1
37.0
€300,001  -No.
64
694
725
64
11
724
697
687
€500,000  Amnt.(€m)
31.9
224.4
199.6
5.9
1.8
212.2
181.5
21.7
€500,001  -No.
29
295
308
34
4
308
285
285
€600,000  Amnt.(€m)
31.5
183.9
169.4
2.2
0.4
179.7
149.1
17.7
€600,001  -No.
36
246
269
20
5
269
247
243
€700,000  Amnt.(€m)
28.8
199.7
173.4
14.0
2.4
210.2
174.2
20.8
€700,001  -No.
29
187
206
15
3
206
190
186
€800,001  -No.
24
135
149
11
6
149
139
140
€900,000  Amnt.(€m)
53.5
137.6
125.9
0.6
24.7
156.4
138.2
17.7
€900,001  -No.
20
122
134
8
3
134
123
127
€1,000,000  Amnt.(€m)
21.2
141.2
127.5
0.5
0.4
132.2
114.8
13.5
€1,000,001  -No.
233
1,138
1,255
117
23
1,255
1,148
1,143
€5,000,000  Amnt.(€m)
653.9
3,086.4
2,807.4
11.0
29.4
3,259.6
2,671.1
267.5
€5,000,001  -No.
41.0
227.0
247.0
18.0
4.0
247.0
230.0
228.0
€10,000,000  Amnt.(€m)
305.8
1,752.7
1,741.2
4.9
6.3
1,829.8
1,444.0
172.9
OverNo.
120
429
463
48
13
463
433
431
€10,000,000  Amnt.(€m)
26,504.8
24,847.7
47,695.2
27.2
29.6
48,264.7
31,073.7
3,256.7
All CasesNo.                   1,810          46,120        124,404          5,722                 738           46,491             44,069          43,756
-Amnt.(€m)
28,762.0
41,195.9
54,637.7
547.5
645.4
61,033.9
41,215.6
4,245.7