asked the Minister for Finance if he will state the current tax incentives available to mining companies.
Ceisteanna—Questions. Oral Answers. - Mining Tax Incentives.
111.
In the case of Irish resident companies engaged in the mining of certain non-bedded minerals in mines which commence production within the period of 30 years beginning on the 6th April, 1956, the profits are wholly relieved from income tax and corporation profits tax for a period of 20 years from the commencement of trading. By an Irish resident company is meant a company incorporated in Ireland and resident here for tax purposes.
In addition, there is provision in the Income Tax Acts for the granting of a mining development allowance in respect of capital expenditure incurred in the development of a successful mine.