Monday, 11 Sep 2017

Written Answers Nos. 106-124

VAT Yield

Questions (106)

Gino Kenny

Question:

106. Deputy Gino Kenny asked the Minister for Finance the amount of VAT collected from the sale of women's sanitary products (details supplied); and if he will make a statement on the matter. [36988/17]

Written answers

Minister for Finance

VAT is guided by the EU VAT Directive, with which Irish VAT law must comply. In Ireland sanitary towels and tampons are charged to VAT at the zero rate.  As such, no VAT is collected on the sale of these sanitary products.

Pensions Reform

Questions (107)

John Lahart

Question:

107. Deputy John Lahart asked the Minister for Finance his views on whether allowing holders of annuity pensions cash their lump sums and pay outstanding taxes would be more beneficial to persons that are in receipt of small monthly amounts from annuity pensions, in view of steps taken recently by the UK government regarding same; and if he will make a statement on the matter. [36991/17]

Written answers

Minister for Finance

I am advised by Revenue that the Taxes Consolidation Act 1997 provides flexible options at retirement that are available in respect of all benefits from Defined Contribution (DC) retirement benefit schemes and other pension savings. They are also available to members of defined benefit (DB) schemes who are proprietary directors in respect of retirement benefits from their main scheme and from additional voluntary contributions (AVCs) and to other DB scheme members in respect of their AVC benefits only.

As an alternative to using the balance of their pension funds (after taking any retirement lump sum) to purchase an annuity, an individual who is entitled to do so may, subject to conditions, opt to receive the remaining funds in cash (subject to marginal rate income tax) or to invest them in an approved retirement fund (ARF) or an Approved Minimum Retirement Fund (AMRF). I am also advised by Revenue that the commutation of small or trivial pensions is allowable in certain limited circumstances on retirement.

Full commutation of pension benefits to a taxable single payment is permitted by Revenue on triviality grounds where, on retirement, the aggregate pension benefits payable to an employee under all schemes related to an employment do not exceed the value of €330 per annum.

Alternatively, where, on retirement and following the payment of any lump sum the total of all funds available for pension benefits is less than €20,000, a once-off payment of the pension benefits to an individual instead of the purchase of an annuity may be allowed with the agreement of the scheme (beneficiaries and) trustees. The quantum of retirement benefits from all sources must be taken into account when calculating this €20,000 limit.

The Deputy’s question refers specifically to proposals in the UK to allow for the sale of annuities.  Our understanding of the UK position is that the rule changes which would have allowed individuals sell their retirement annuities, and which were due to come into effect in April of this year, are not going ahead.

Revenue Commissioners

Questions (108)

Pearse Doherty

Question:

108. Deputy Pearse Doherty asked the Minister for Finance if the Revenue Commissioners have plans to review their use of 1890 numbers or to provide alternatives, in view of the prevalence of mobile phones which do not have a local call rate; and if he will make a statement on the matter. [37003/17]

Written answers

Minister for Finance

I am advised by Revenue that they received almost 2.7 million telephone calls on their 1890 services in 2016.  These calls were handled by staff in various locations throughout the country.  From Revenue's perspective, and in particular to deliver the quality, predictability and reliability of service to which they are committed,  it is essential to have a telephone system that can handle the significant volume of business involved. The 1890 LoCall system is the current platform that best delivers on the demands for an effective telephone service by Revenue.

I am advised by Revenue that while the 1890 service is a low cost service, many mobile operators do not treat it as a low call service or as part of 'bundled minute packages' and charge standard rates.  The question of rates charged by telecoms operators for telephone services is a matter for the Commission for Communications Regulation - ComReg. I am advised by Revenue that they have raised their concerns as regards the charging for calls to the 1890 service with ComReg.

As an alternative to contacting the 1890 services, the vast majority of routine tax and customs enquiries can be answered by reference to the comprehensive information service on www.revenue.ie.  This website was recently re-launched making it easier to navigate and find information and it is also now accessible on all smart devices.  Revenue also rewrote a considerable amount of the information on the website in plain ordinary language making it even easier for the customer to understand.  Revenue also provides an increasing range of cost effective and speedy online services which can be accessed through the myaccount service or ROS.  

I am assured by Revenue that it is very conscious of the need to provide a range of comprehensive, flexible, cost effective and reliable service channels to customers. This includes its telephony services. In that context I am also assured that Revenue keeps its telephony infrastructure under ongoing review. Revenue will be happy to assess and exploit the potential of any new technology that will guarantee its ability deliver a robust and reliable telephony service and address the costs issue for mobile phone users.

Tax Code

Questions (109)

Pearse Doherty

Question:

109. Deputy Pearse Doherty asked the Minister for Finance the way in which windfalls gained through Central Bank mandated redress schemes such as for tracker mortgages are treated for the purposes of income tax; and if he will make a statement on the matter. [37055/17]

Written answers

Minister for Finance

I understand that the Central Bank has clearly set out its expectations of lenders to provide appropriate redress and compensation to affected customers in its document “Principles for Redress” dated December, 2015.

The principles provide, inter alia, that “Any tax liability that impacted customers may incur as a result of the relevant issue in or respect of any redress, compensation or other payment made to impacted customers are to be discharged by the lender. The lender is to liaise directly with Revenue in this regard”. 

The Principles of Redress provide for a number of different classes of redress payments depending on the harm suffered by individual borrowers. The question of whether a tax liability arises in any given case depends on the specific issues to be redressed and the facts and circumstances of that particular case.

I am advised by Revenue that a number of lending agencies are liaising with them in order to identify any tax liabilities owing and to discharge same.

Budget 2018

Questions (110)

Peter Fitzpatrick

Question:

110. Deputy Peter Fitzpatrick asked the Minister for Finance if business owners will be able to claim VAT back on car petrol usage in budget 2018; and if he will make a statement on the matter. [37056/17]

Written answers

Minister for Finance

As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Departmental Staff Data

Questions (111, 112)

Mary Lou McDonald

Question:

111. Deputy Mary Lou McDonald asked the Minister for Finance the number of women and men respectively employed in his Department, in tabular form. [37071/17]

Mary Lou McDonald

Question:

112. Deputy Mary Lou McDonald asked the Minister for Finance the number of men and women respectively in his Department that hold posts (details supplied). [37082/17]

Written answers

Minister for Finance

I propose to take Questions Nos. 111 and 112 together.

The number of women and men respectively employed in the Department of Finance, by grade, at 31 August, 2017 are shown in the table below: There are no posts at Second Secretary General or Deputy Secretary General level in the Department of Finance.

Grade	Male	Female	Total
Secretary General	1	0	1
Assistant Secretary	5	0	5
Principal Officer	19	6	25
Assistant Principal	37	29	66
Administrative Officer	56	22	78
Higher Executive Officer	13	10	23
Executive Officer	6	16	22
Staff Officer	3	4	7
Clerical Officer	16	44	60
Service Officer	15	2	17
Service Attendant	2	0	2
TOTAL	173	133	306

Knowledge Development Box

Questions (113)

Pearse Doherty

Question:

113. Deputy Pearse Doherty asked the Minister for Finance the estimated cost in 2017 of the knowledge development box, by company size, SME or larger, that have applied to the scheme to date in 2017; and if he will make a statement on the matter. [37123/17]

Written answers

Minister for Finance

I am advised by Revenue that the Knowledge Development Box (“KDB”) was introduced with effect from 1 January 2016. The earliest Corporation Tax returns claiming the KDB would therefore be 2016 returns, the bulk of which are not due to be filed until later this year. When these returns have been filed and subsequently processed and analysed, Revenue will be in a position to provide this data. The estimated cost of the KDB at the time of Budget 2016 was €31 million on a first year basis and €50 million in a full year.

Corporation Tax

Questions (114)

Pearse Doherty

Question:

114. Deputy Pearse Doherty asked the Minister for Finance when he expects to receive the report by a person (details supplied) on the corporation tax system; and if he will make a statement on the matter. [37124/17]

Written answers

Minister for Finance

In September last year, the Government decided to arrange for a review of Ireland’s corporation tax code by an independent expert, Mr Seamus Coffey. The decision was taken with a view to ensuring that Ireland’s corporation tax code meets the new international tax standards while remaining competitive in a growing economy.

On 30 June 2017, Mr Coffey submitted a ‘Review of Ireland’s Corporation Tax Code.' I am currently considering this report carefully before deciding on the appropriate next steps.

Tax Avoidance

Questions (115)

Pearse Doherty

Question:

115. Deputy Pearse Doherty asked the Minister for Finance when the State will ratify the BEPS multilateral instrument; the process for doing same; and if he will make a statement on the matter. [37125/17]

Written answers

Minister for Finance

The Multilateral Instrument will modify existing bilateral tax treaties to bring them into line with new international best practices agreed as part of the OECD BEPS initiative.  Over 70 countries, including Ireland, have already signed up to this Multilateral Instrument.  

The Multilateral Instrument must be ratified by Ireland before it can come into effect and amend any of our existing tax treaties.  The process involves amending the Taxes Consolidation Act to give Government the legal authority to make an Order ratifying the Multilateral Instrument.  As with all international agreements, the making of this Government Order will require Dáil approval.

Once this Order has been made, a second legislative provision will be required to include the Multilateral Instrument in the list of ratified international tax agreements set out in Schedule 24A of the Taxes Consolidation Act 1997. 

My intention is to begin the ratification process as soon as possible and to complete all legislative steps during 2018.

Tax Avoidance

Questions (116)

Pearse Doherty

Question:

116. Deputy Pearse Doherty asked the Minister for Finance the timeframe and the process by which the anti-tax avoidance directives and the directives on administrative co-operation will be implemented; and if he will make a statement on the matter. [37126/17]

Written answers

Minister for Finance

The Anti-Tax Avoidance Directive was agreed by Member States in June 2016 to implement a number of the OECD BEPS recommendations within the EU.  In February 2017, Member States agreed to amend the Directive to strengthen certain aspects of the rules in relation to hybrids mismatches. 

Ireland will be required to implement the Anti-Tax Avoidance Directives by way of primary legislation over a number of Finance Bills in line with the timeframes provided for in the Directive. These timeframes are: 

- Controlled foreign company rules must be implemented by 1 January 2019.

- A General anti-abuse rule must be implemented by 1 January 2019.

- Exit tax rules must be implemented by 1 January 2020.

- Rules to prevent hybrid mismatches, the first elements of which must be implemented by 1 January 2020.

- Interest limitation rules.  Ireland has informed the European Commission that, as our existing interest limitation rules are at least equally effective to the rules contained in the Directive, we will be availing of the derogation provided in Article 11(6) of the Directive and are therefore not required to implement these rules until 1 January 2024.

The Directive on Administrative Cooperation enables the exchange of tax information among EU Member States.  The Directive was first agreed in 2011 and has been amended five times since then.  Ireland has fully implemented all five previous versions of this Directive.  

The most recently agreed amendment to the Directive, which is known as DAC6, requires Member States to ensure that tax authorities have access to information required to be held by taxpayers under the money laundering legislation.  My intention is to implement DAC6 by way of Regulations before the end of this year.

Customs and Excise Controls

Questions (117, 118, 160, 214)

James Browne

Question:

117. Deputy James Browne asked the Minister for Finance if his Department has conducted an economic analysis of the impact of potential customs checks at border points following Brexit; and if he will make a statement on the matter. [37188/17]

James Browne

Question:

118. Deputy James Browne asked the Minister for Finance if the Revenue Commissioners anticipate increased levels of customs checks and enforcement following Brexit; and if he will make a statement on the matter. [37189/17]

Joan Burton

Question:

160. Deputy Joan Burton asked the Minister for Finance if there are investigations being conducted by the Revenue Commissioners or his Department regarding the possible erection of customs posts between Ireland and the United Kingdom in the event of a so-called hard Brexit in March 2019; and if he will make a statement on the matter. [38033/17]

Stephen Donnelly

Question:

214. Deputy Stephen S. Donnelly asked the Minister for Finance if his Department has conducted an assessment of the additional number of customs officials that may be required in the event of the UK leaving the customs union; and if he will make a statement on the matter. [38657/17]

Written answers

Minister for Finance

I propose to take Questions Nos. 117, 118, 160 and 214 together.

The Government’s position in relation to the border with Northern Ireland in the context of Brexit is very clear.  Continued freedom of movement, absence of a ‘hard’ border, and protection of the Good Friday Agreement are key objectives for the Irish Government. The arrangements that will apply after Brexit will depend on the outcome of negotiations between the EU and UK.  The Government is clear that any manifestation of a hard border would have very negative consequences.  A key priority is to ensure the continued free flow of trade on the island and the need to avoid a hard border. Clearly in this regard the closer the trading relationship between the UK and EU the better.

The European Council Guidelines that set out the EU’s position for the Article 50 negotiations state clearly that, in view of the unique circumstances on the island of Ireland, flexible and imaginative solutions will be required, including with the aim of avoiding a hard border. It is not helpful to pre-empt any particular outcome at this early stage of the process. Both the Government and the EU Taskforce have welcomed the indications that EU and UK objectives on the Irish issues are converging but have also stressed that the UK needs to back this up with tangible commitments that can pave the way for practical solutions.

My Department has been preparing for the impact of Brexit since well before the referendum on 23 June 2016, with this work now intensified. The primary areas for the Department of Finance relate to the economic and financial sector implications stemming from Brexit. This work is being undertaken within the whole-of-Government framework established by the Department of the Taoiseach.  In relation to ongoing analysis of the impact of Brexit, my Department sponsors a joint research programme between the Department of Finance, Revenue and the Economic & Social Research Institute (ESRI) on The Macro-economy and Taxation. This programme began in January 2015 and continues through 2016 and 2017. Its objective is to undertake research on a range of macro-economic and taxation issues in Ireland, this has included a number papers published on different aspects of Brexit (available on the ESRI website www.esri.ie). 

Like all Government agencies, the Revenue Commissioners are actively engaged in examining a range of scenarios in order to support Ireland's objectives.  Until the shape of post-Brexit arrangements becomes clear, it will not be possible to formulate specific plans.  The precise arrangements that will apply after Brexit will depend on the outcome of negotiations between the EU and UK.  I am therefore informed by Revenue that at this juncture it is not possible to assess what additional resources would be required if the UK left the customs union.  For this reason Revenue’s focus to date has centred on upgrading their IT systems in order to have the most advanced systems possible and to maximise the simplifications provided for within the Union Customs Code. I can also confirm that no investigation or planning is being undertaken by my Department or by Revenue in relation to the creation of new customs posts. 

The total volume of trade subject to customs checks will increase significantly in the event that customs processes become necessary after Brexit.  It is not possible to accurately predict the level of volume increase until the detail of the future EU-UK relationship is known. At present, customs checking mainly consists of verification of documents and examination of records. The number of physical checks of goods is small; less than 2% of all import consignments were physically examined in 2016.  The majority of checks are carried out in approved warehouses and other premises with a very small number at a port or airport.  The low level of checks is the result of pre-authorisation of traders, advance lodgement of declarations and an extensive system of post-clearance checks, including customs audit, which are carried out at traders' premises.

As previously stated, the nature of the future trading relationship between the EU/Ireland and the UK, and consequent customs arrangements, will be determined by the outcome of the Article 50 negotiations which cannot be prejudged.

VAT Rate Application

Questions (119)

Michael Healy-Rae

Question:

119. Deputy Michael Healy-Rae asked the Minister for Finance if he will address a matter (details supplied) regarding the VAT rate for retailers and small businesses; and if he will make a statement on the matter. [37202/17]

Written answers

Minister for Finance

I would point out that VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply. The VAT Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless there is a provision in the VAT Directive that permits a lower rate. In this respect, when the 9% VAT rate was introduced in 2011 for tourism related services, it was introduced in respect of certain goods and services to which a 9% VAT rate was permissible under EU VAT law, which were deemed relevant to tourism. Some tourism related activity, such as car hire, remains liable to VAT at the 13.5% rate as the provisions of the EU VAT Directive do not allow for a 9% VAT rate to apply to them. In this context VAT does not apply to retailers but to the goods supplied by retailers and the rate applying will depend on the goods being supplied. It is not possible to apply a 9% VAT rate to all supplies made by retailers. EU VAT is a tax on consumption and VAT rates are charged on goods and supplies, not persons.

Any changes to VAT rates outside of what is currently permitted by the EU VAT Directive must be negotiated at EU technical working groups and ultimately agreed by the EU Council of Finance Ministers. The EU Commission published an Action Plan on the future of VAT “Towards a single EU VAT Area - Time to decide”, which sets out the Commission’s pathway for modernising the VAT system and contains a proposal to look at VAT rate policy across the EU in 2017. The Action Plan’s proposal on rates may offer Member States more flexibility in the future in determining VAT rates applicable to goods and services. However, the Deputy will be aware that any proposed changes to the current EU VAT Directive would require unanimous agreement from all Member States.

Motor Insurance

Questions (120)

Jackie Cahill

Question:

120. Deputy Jackie Cahill asked the Minister for Finance if he will explore the possibility of consumers accessing motor insurance from another well-regulated EU member state; the potential pitfalls for a consumer accessing insurance from another EU member state; and if he will make a statement on the matter. [37217/17]

Written answers

Minister for Finance

At the outset, the Deputy should note that the EU regulatory framework for insurance already allows for the freedom to provide services from one Member State into another throughout the EU. This is a key principle and is availed of by a number of insurance firms established in Ireland in order to conduct business into other EU Member States, and also by companies authorised elsewhere conducting business into the Irish market. This can be done either through:

- establishing a branch operation in the host country and thus conducting business on a 'freedom of establishment' (FOE) basis; or

- writing business from the home country (i.e. where authorised) into the host country on a 'freedom of services' (FOS) basis.

In both situations for companies wishing to do business in Ireland, there is a requirement to become a member of the national bureau (Motor Insurers' Bureau of Ireland (MIBI)) under Section 78 of the Road Traffic Act. This is an important requirement as the MIBI is the body in Ireland tasked with meeting the EU requirement of compensating victims of accidents caused by uninsured and unidentified vehicles. This position has been upheld in the case of DPP v Lepina and Suhanovs where one of the conclusions was that a vehicle registered in the State must be insured by a vehicle insurer who is a member of the national bureau (MIBI).

In summary, therefore a vehicle registered and based in Ireland can legally only take out insurance with a company who is a member of MIBI which means that by definition they cannot purchase motor insurance in another Member State where such companies will be members only of their own national bureau.

This is a complex issue, both in legal terms and commercial terms, which would require a solution at EU level. It would also require a willingness by industry to provide insurance in other markets that they may not be familiar with. In recognition of this, the Cost of Insurance Working Group recommended that my Department support efforts and raise awareness of the need to improve cross-border motor insurance provision at the European level. This work is ongoing and my officials continue to monitor the issue and raise it in the relevant EU fora.

Departmental Banking

Questions (121)

Pearse Doherty

Question:

121. Deputy Pearse Doherty asked the Minister for Finance the cost his Department incurred in each of the past five years due to debit and credit card payment services and banking fees; the financial institutions to which the payments were made; and if he will make a statement on the matter. [37224/17]

Written answers

Minister for Finance

In response to the Deputy, my Department is working on the information requested and I will provide the Deputy with an answer as soon as possible.

Tax Reliefs Eligibility

Questions (122)

Michael McGrath

Question:

122. Deputy Michael McGrath asked the Minister for Finance the reason tax relief cannot be claimed in respect of payments made by a parent under a deed of covenant in favour of his or her permanently incapacitated child; his plans to review this provision; and if he will make a statement on the matter. [37234/17]

Written answers

Minister for Finance

Tax relief can be claimed in respect of payments made by a parent under a deed of covenant in favour of their permanently incapacitated child where that child is 18 years of age or more.  However in the case of any child of less than 18 years of age, any payment by a parent under a deed of covenant is deemed under the Tax Acts to be the income of the parent and not income of the child.  This is derived from a long-established principle in the income tax code. 

Relief from income tax is available under Part 31 of the Taxes Consolidation Act 1997 in respect of certain covenants to:

- one or more adults aged 65 or over (the relief available is restricted to 5% of the total income of the person making the covenant),

- permanently incapacitated minors (i.e. under 18 years of age) where the person receiving the covenant is not a child of the person making the covenant, and

- permanently incapacitated adults, including covenants made by a parent for the benefit of their adult child who is permanently incapacitated.

I do not currently have plans to amend this provision, however all tax measures are kept under review by my Department as a matter of course.

It should be noted that an Incapacitated Child Tax Credit of €3,300 per annum is also available to an individual who has custody of, and maintains at his/her own expense, a child who:

- is under 18 years of age and permanently incapacitated physically or mentally,

- is over 18 years of age and unable to support themselves and who became permanently incapacitated before turning 21 years of age,

- became permanently incapacitated aged 21 years or over, but while in full-time education, or

- became permanently incapacitated aged 21 years or over, but while undergoing full-time training for a trade or profession (and the training was expected to last for at least two years).

 Further information on this credit can be found on the Revenue website at:- http://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/children/incapacitated-child-credit/index.aspx

Tax Code

Questions (123)

Tony McLoughlin

Question:

123. Deputy Tony McLoughlin asked the Minister for Finance if consideration will be given in the Finance Bill 2017 to enabling the capital gains tax of 33% to be lowered in legal separation in cases in which the sale of a separating couple's shared land holding will have to be used to provide new accommodation for a family member with a disability; and if he will make a statement on the matter. [37237/17]

Written answers

Minister for Finance

I am advised by Revenue that a capital gains tax (CGT) relief applies in respect of a gain made by a couple who are legally separating on the disposal of their family home together with land occupied as its gardens or grounds up to an area (exclusive of the site of the residence) of one acre.  For full relief to apply, the house must have been occupied by the individuals as their family home (principal private residence) throughout the period during which they owned the property.  Where the house was not so occupied during the whole period of ownership, only the proportion of the gain applicable to the period of occupation is exempt from CGT.  However, the exemption would continue to apply in circumstances where, after the legal separation, the house is occupied by one of the parties as his or her principal private residence.  In any event, the last 12 months of the period of ownership is treated as a period of occupation for the purposes of the relief. 

Relief is also available in respect of a gain arising on the disposal of a house or part of a house which, during the period of ownership, was the sole residence of a dependent relative.  A dependent relative means a relative of the individual or of his/her spouse or civil partner who is incapacitated by old age or infirmity from maintaining himself or herself.  For the relief to apply, the house must have been provided rent-free and without any other consideration for the dependent relative.  No more than one dwelling house (or part of a dwelling house) may qualify for relief as being the residence of a dependent relative of the claimant at any one time.

Furthermore, there is an exemption from CGT where a parent transfers land to his/her child to enable that child to build a principal private residence for himself/herself.  The relief is available if the child builds the house on the land transferred to him or her; it is not available if the parent builds the house and then transfers the house to the child.  The relief only applies to sites limited to one acre in addition to the house site itself and with a market value of up to €500,000.  Only one CGT-exempt disposal of land is allowed to each “child”.  If the child subsequently disposes of the land (other than to his/her spouse or civil partner) and the land does not contain a dwelling house which was constructed by the child since the land was acquired and which has been “occupied” by the child as his/her only or main residence for a period of at least three years, then the chargeable gain which would have accrued to the parent shall accrue to the child in addition to any gain arising to the child on the disposal.  However, a further disposal of land to that “child” is entitled to be exempted from CGT if the conditions are met.

Gains arising in respect of other jointly owned property such as, for example, a property which was held by a divorcing or separating couple as an investment are liable to CGT at the rate of 33%. The first €1,270 of a gain accruing to an individual in a tax year is exempt from CGT.

In the absence of more specific information, and on the basis that you have a particular case in mind when asking this question, I hope this response provides the required clarity. If, however, a question still remains for you, you might provide more information about the issue in a written representation, which will allow my officials to provide me with a more targeted answer for you.

Prize Bonds

Questions (124)

Pearse Doherty

Question:

124. Deputy Pearse Doherty asked the Minister for Finance the rationale for the reduction in the yield that applies to the prize bonds prize fund; the yield value of old bonds and prizes distributed over the past ten years, in tabular form; and if he will make a statement on the matter. [37256/17]

Written answers

Minister for Finance

The NTMA has advised me the interest rate reduction reflects changes across the retail savings market and the fall in the cost of borrowing by the State. However, the change also maintains the balance of remaining competitive, providing good value for the holders of Prize Bonds while also remaining conscious of the cost to the taxpayer.  It should be borne in mind that the yield on prize bonds is State funds that could alternatively be spent on essential public services or reductions in taxation levels.

The NTMA has also advised me that the value of prizes in respect of prize bonds, and these prizes as a percentage of total prize bonds outstanding, over the last ten years, including to date during 2017, are as follows: 

Year	Fund at Year End	Prizes Paid	Year-End Fund
	€m	€m	%
2017 (end-July)	3,092	15.4	0.50
2016	2,894	27.9	0.96
2015	2,481	28.9	1.16
2014	2,176	31.7	1.46
2013	1,929	35.2	1.83
2012	1,649	46	2.79
2011	1,448	42	2.90
2010	1,328	35.9	2.70
2009	1,072	27.8	2.59
2008	804	20.3	2.53