Joe Higgins
Ceist:177 Mr. Higgins (Dublin West) asked the Minister for Finance the amount of tax which has been foregone each year under the hotel and holiday camp tax allowance scheme since its inception. [3268/98]
Written Answers. - Seaside Resort Scheme.
I am presuming that the Deputy is referring to the seaside resort tax relief scheme. The scheme was introduced on 1 July 1995 for three years on a pilot basis. I announced a conditional one year extension to the scheme in the budget.
I am informed by the Revenue Commissioners that the latest and only information to date available on the cost of tax relief under this scheme relates to the year 1996-97. The results of a limited survey carried out on claims made for the year indicate the tax foregone on the scheme countrywide could be of the order of £5 million for that year. This estimate is tentative and is subject to revision and is likely to be higher for subsequent years.