Dáil Éireann Debate, Tuesday - 23 November 2004
130 Mr. Broughan asked the Minister for Finance the steps he is taking to establish the cost to the Exchequer in terms of tax foregone of 33 separate tax reliefs in respect of which no such information is available; and if he will make a statement on the matter. [29843/04]
View answerI presume the question refers to replies that I have given to previous Dáil questions about the costing of tax reliefs. Information on the cost of tax reliefs is usually sourced from the tax returns of individuals and companies claiming the reliefs. Specific information is not currently available on the costs of certain reliefs and there are more than 33 specific provisions, which serve to reduce the tax paid in certain circumstances, for which full cost information is not available. In part this is because the aggregate information on tax return forms does not always allow for a distinction between the reliefs claimed in respect of different schemes.
On the question of costs, however, the Deputy will be aware that my Department has been working closely with the Revenue Commissioners to investigate information and data capture issues with a view to improving data quality and transparency without overburdening compliant taxpayers. On foot of this work, the Revenue Commissioners are introducing a number of changes to the forms which will yield additional information regarding the cost of certain important tax reliefs, especially the property-based incentive reliefs, and I can supply the Deputy with a list of these. Provisions were included in the Finance Act 2004 to underpin these changes. This will provide better data in this area and enable fuller estimates of the tax foregone to be made over time.
Property based incentives on which information is being sought in tax forms are: urban renewal; town renewal; seaside resort; rural renewal; multi-storey car parks; living over the shop; enterprise areas; park and ride; hotels; holiday cottages; nursing homes — associated housing for elderly or infirm — and convalescent homes; student accommodation; qualifying private hospitals, including qualifying sports injury clinics; and buildings used for certain child care purposes.
