Tax Exemptions

Dáil Éireann Debate, Tuesday - 11 June 2013

Tuesday, 11 June 2013

Questions (212)

Brendan Ryan

Question:

212. Deputy Brendan Ryan asked the Minister for Finance if the exemption on deposit interest retention tax available to groups entitled to charitable exemption from tax will be extended to other voluntary and community groups. [28003/13]

Written answers

Minister for Finance

Section 207 of the Taxes Consolidation Act 1997 provides for an exemption from Income Tax, including Deposit Interest Retention Tax (DIRT) for qualifying charities. In order to qualify for a charitable tax exemption, a body or trust must be established for charitable purposes only and must apply all of its income to those purposes. Procedures are in place to firstly ensure that the exemption is only granted to bodies that meet the necessary criteria and to secondly satisfy the Revenue Commissioners of continued compliance with the terms of the exemption.

Any voluntary or community group is free to apply for such an exemption, providing they meet the qualifying criteria. An explanatory leaflet and application form for the exemption is available on the Revenue Commissioners web site www.revenue.ie at the following link:

http://www.revenue.ie/en/tax/it/leaflets/chy1.pdf.