The pilot tax relief scheme for certain resort areas was introduced, under the Finance Act, 1995, on 1 July 1995 on a pilot basis for three years. The purpose of the scheme is to assist in the renewal and updating of tourist amenities and facilities in the areas designated.
An interdepartmental group comprising representatives from my Department, the Department of Finance, the Department of the Environment and Local Government, the Revenue Commissioners, Bord Fáilte and Shannon Development is currently reviewing the impact of the scheme. The review will assimilate all key data concerning developments currently taking place in the designated resort areas, including the total number of projects; the total number of projects by type of enterprise; the total capital investment, the total level of tax relief granted; the total number of jobs created; the geographical spread of uptake; and the qualitative aspects.
When I receive the review findings, I will examine them in consultation with the Minister for Finance. At this stage, I clearly cannot anticipate those findings. I had hoped to have them before the end of this year but as the Deputy knows, the scheme will run until the end of next year. I anticipate we will have the findings before that time.