Dáil Éireann Debate, Thursday - 9 September 2021
227. Deputy Mary Butler asked the Minister for Finance if consideration has been afforded to increasing the fishers' tax credit and the seafarers' allowance for crewmen to incentivise more workers into the industry; if consideration has been afforded to further tax incentives for crewmen on Irish fishing vessels to address worker shortages within the industry; and if he will make a statement on the matter. [43191/21]
View answerSection 472B of the Taxes Consolidation Act 1997 provides for the Seafarers' Allowance and section 472BA provides for the Fisher Tax Credit. The incentives are intended to support those working in the commercial maritime sector.
The Seafarers' Allowance provides an allowance of €6,350 to individuals working in the shipping transport sector. It is an approved EU State Aid that is available under EU Community Guidelines on State Aid to Maritime Transport. Fishing activities are specifically excluded in these guidelines, therefore it is not possible to extend the Seafarers Allowance to fishers.
The Fisher Tax Credit is aimed at assisting the viability of the fishing sector and at attracting and retaining workers in the industry. The tax credit is worth €1,270 and applies to qualifying fishers who spend at least 80 days per year engaged in sea-fishing. The credit will act to shelter up to €6,350 of income from taxation, which is similar in value to the allowance provided under the seafarer’s exemption.
In relation to the question of increasing these reliefs, or introducing further tax incentives, these are matters that would fall to be considered by Government in the context of the annual Budget and Finance Bill cycle.
In addition, proposals for tax expenditure measures are generally assessed in accordance with my Department's Tax Expenditure Guidelines.
However, I have no plans at the present time to introduce measures along the lines mentioned by the Deputy.
