Dáil Éireann Debate, Thursday - 5 December 2019
83. Deputy Michael McGrath asked the Minister for Finance the annual cost of the employment and investment incentive scheme in each year since it commenced including 2018; the number of companies that availed of the scheme in each of the years by multinational and SME companies; and if he will make a statement on the matter. [51040/19]
View answerI am advised by Revenue that data on the Employment and Investment Incentive (EII) Scheme can be found in the EII statistics report on Revenue’s webpage at the following link:
https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/eii.aspx.
EII has been in operation since 2011 when it replaced the Business Expansion Scheme. The following table sets out information on the number of qualifying companies and the annual Exchequer cost for the years 2011 to 2017 (the most recent year for which data are available).
|
Year |
Qualifying Companies |
Estimated Tax Cost (1st tranche) €m |
Estimated Tax Cost (2nd tranche) €m |
|
2011/2012 |
255 |
15.7 |
3.2 |
|
2013 |
248 |
17.3 |
2.9 |
|
2014 |
297 |
23.3 |
2 |
|
2015 |
270 |
28 |
|
|
2016 |
203 |
31 |
|
|
2017 |
87 |
18.6 |
The EII scheme applies to unquoted micro, small and medium sized trading companies only. Therefore, the question of data in respect of multinational companies under the scheme does not arise.
