Eoghan Murphy
Question:113 Deputy Eoghan Murphy asked the Minister for Finance when he is due to report on the section 23 consultation process. [30842/11]
View answerTuesday, 25 October 2011
Questions (100)
Written answers
The public consultation on Section 23-type reliefs and other "legacy" property-based tax reliefs, undertaken by my Department concluded at the end of July. Over 700 submissions were made during the consultation, which forms part of an impact assessment process to assess the potential effects of amending, curtailing and/or abolishing such reliefs, in keeping with the commitment in the Programme for Government to curtail tax shelters which benefit very high income earners. Submissions were received from a wide range of organisations and from individuals, and varied in length and scope. These submissions are currently being examined and are adding to our understanding of the dynamic of these reliefs and providing a valuable source of information on the possible impacts on the State and investor groups of potential changes to the treatment of property-based legacy reliefs.
It is anticipated that the analysis of the submissions along with the results of the impact assessment process will be available for consideration in the context of the forthcoming budget.
As the Deputy is aware it is not customary to comment in advance of the Budget on any matters that might be the subject of Budget decisions.