Dáil Éireann Debate, Thursday - 11 July 2019
178. Deputy Michael McGrath asked the Minister for Finance the annual cost of the foreign earnings deduction for the past five years including 2018; the number of companies that availed of the scheme in each of the years by multinational companies and SME companies; and if he will make a statement on the matter. [30805/19]
View answerI am advised by Revenue that the annual costs of the Foreign Earnings Deduction (FED) for 2012 to 2016, the latest year for which figures are currently available, are as follows:
|
2016 €m |
2015 €m |
2014 €m |
2013 €m |
2012 €m |
|
3.5 |
3.2 |
1.1 |
1 |
0.8 |
https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/costs-expenditures.aspx.
Revenue further advise me that FED is an allowance applied for by employees through their own tax returns and is not returned at a company level, therefore it is not possible to provide the data on the number of companies associated with employees availing of the scheme broken down by multinational and SMEs.
