Dáil Éireann Debate, Wednesday - 17 April 2024
20. Deputy Pearse Doherty asked the Minister for Finance the revenue raised from restricting the employers' PRSI exemption for share-based remuneration to micro-, small- and medium-sized enterprises; and if he will make a statement on the matter. [16899/24]
View answerI am advised by Revenue that the additional revenue associated with the removal of the existing employer’s PRSI exemption, that may apply to share-based remuneration schemes operated by employers, is now estimated to be in the region of €235 million for all employers. This latest estimate is based on 2022 data, being the most recent year in respect of which Revenue has full data for.
A complete breakdown of this €235 million figure by employer size is not available. However, a breakdown by employer size for share based remuneration that has been reported through payroll is now available. The total PRSI exemption in respect of this cohort is estimated to be €169.6 million, approximately €145 million relates to large enterprises and €24.1 million relates to micro, small and medium enterprises.
As I committed to last year, a comprehensive review of share based remuneration is now underway, incorporating the responses received to a public consultation completed in January. The review will include an examination of all current administrative and legislative underpinning of Irish Share schemes, including a review of the employer’s PRSI exemption.
