Dáil Éireann Debate, Tuesday - 17 May 2016
193. Deputy Tony McLoughlin asked the Minister for Finance how he will help to rectify the situation whereby retail and commercial units remain empty in many rural towns and villages; if new taxes for the owners of these empty units will help them to be leased more quickly; and if he will make a statement on the matter. [9667/16]
View answerThe Deputy will be aware that tax incentives, when designed to target certain geographical areas, could potentially raise State Aid issues. However there are a number of incentives and allowances which may be applicable in this instance. For example, a person in receipt of rental income is assessed on the profit amount of the rents received i.e. the gross rents less allowable expenses incurred in earning those rents.
The Deputy will be aware also that the issues he raises have been identified in "A Programme for a Partnership Government" published last week, any new or amended tax policies would be matters for consideration as part of the Budgetary process.
A further point which may be of interest to the Deputy is that 85% of lending by the Strategic Banking Corporation of Ireland (SBCI) is to SMEs based regionally outside of Dublin.
On the issue of commercial rates, the Deputy may wish to address my colleague the Minister for Housing, Planning and Local Government. He may also wish to note that the vacant site levy of up to 3% of the market value of such sites which exceed 0.05 hectares in area, that was legislated for in the Urban Regeneration and Housing Act 2015 is scheduled to come into operation in 2019. I am advised that this levy may be charged in any area identified by elected members of a planning authority as being in need of regeneration in their local development plan or local area plan, and it will apply to both private property and state owned property (other than land owned by a local authority for housing purposes).
