Thursday, 5 December 2019

Questions (83)

Michael McGrath

Question:

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 answer

Written answers (Question to Finance)

I 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.