Dáil Éireann Debate, Wednesday - 10 October 2018
56. Deputy Joan Burton asked the Minister for Finance his views on whether it is time to limit all losses forward for income and-or corporation tax purposes; the estimated yield of such an action in a full year; if a time to limit was set at five or ten years, respectively; and if he will make a statement on the matter. [41282/18]
View answerI am informed by Revenue that timeline information in respect of losses (to show the age profile of losses and unused capital allowances associated with claims) is not available on tax returns. While it is likely that restricting the use of these losses, including unused capital allowances, could lead to large theoretical gains depending on the time limit chosen, it is not possible to provide an accurate estimate of this yield in the absence of underlying information.
