I am advised by Revenue that the estimated cost to the Exchequer of increasing the current allowable tax relief cap of €150,000, available to individual investors under the Employment and Investment Incentive (EII) Scheme, in the manner described by the Deputy is set out in the following table.
Threshold
|
Cost (€m)
|
€200,000
|
0.4
|
€300,000
|
0.7
|
€400,000
|
0.8
|
€500,000
|
0.9
|
€600,000
|
1.0
|
€700,000
|
1.0
|
€800,000
|
1.1
|
€900,000
|
1.2
|
€1M
|
1.2
|
€1.1M
|
1.3
|
€1.2M
|
1.4
|
€1.3M
|
1.4
|
This costing assumes a maximum of relief of 30% and does not include the additional 10% relief that is currently available under the Scheme after a period of 4 years from the initial investment. It is based on actual data relating to the operation of scheme in 2017 and assumes that there are no behavioural changes as a result of the increased caps on the relief.