Credit Unions

Dáil Éireann Debate, Tuesday - 24 October 2017

Tuesday, 24 October 2017

Questions (65)

Maureen O'Sullivan

Question:

65. Deputy Maureen O'Sullivan asked the Minister for Finance the tax expenditures that exist to support credit unions, including those which the tax strategy group referenced in its 2009 recommendation that tax exemption for the income of credit unions should be continued (details supplied); if the tax expenditures recommended for continuance in that report are still in place; and the reason they are not enumerated in the Revenue Commissioners' published data on the cost of tax expenditures. [44731/17]

Written answers

Minister for Finance

I am advised by the Revenue Commissioners that the profits of Credit Unions have been exempt from tax since 1972. Since 1998 that exemption applies to Credit Unions which are registered or deemed to be registered under the Credit Union Act 1997. There are no other tax expenditures or reliefs available specifically or primarily to credit unions.

I am further advised by Revenue that there are no costings available in relation to this exemption from tax.