Dáil Éireann Debate, Thursday - 5 December 2019
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]
View answerRevenue 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.
