Dáil Éireann Debate, Tuesday - 25 October 2016
178. Deputy Richard Boyd Barrett asked the Minister for Finance to set out the tax advantages and other advantages that companies which locate in the IFSC receive; the level of rates which must be paid on buildings; if there are any special allowances given for payment of rent; and if he will make a statement on the matter. [31749/16]
View answerCompanies located in the IFSC are subject to the normal tax regime, with any trading income of such companies subject to corporation tax at the rate of 12.5% and passive income such as investment or rental income subject to corporation tax at 25%.
The Finance Act 1986 introduced a scheme of tax reliefs, both capital allowances and double rent relief, aimed at encouraging the redevelopment of the Customs House Docks Area in Dublin, which included the IFSC. However, these schemes are now terminated.
The issue of rates is a matter for Dublin City Council and my Department has no function in this matter.
