Thursday, 5 December 2019

Questions (81)

Michael McGrath

Question:

81. 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. [51038/19]

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Written answers (Question to Finance)

Revenue advise me that the Foreign Earnings Deduction (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 data on the number of companies associated with employees availing of the scheme, or to give a breakdown down by multinational and SME.

I am advised by Revenue that the annual cost of the incentive for 2013 to 2017, the latest year for which data are currently available, is as follows:

Year

Cost €M

2017

3.9

2016

3.5

2015

3.2

2014

1.1

2013

1

This information is also available at the following link:

https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/costs-expenditures.aspx.