Dáil Éireann Debate, Wednesday - 22 April 2009
208 Deputy Róisín Shortall asked the Minister for Finance the amount of tax foregone by the State in the past three years for which figures are available in respect of the off-setting of rental income against mortgage interest on foreign property with a breakdown by commercial and non-commercial property, and with a breakdown by property location. [15793/09]
Amharc ar fhreagraI assume that the Deputy is enquiring about the amount of tax forgone by allowing interest relief on borrowings to finance the purchase, improvement or repair of foreign property to be set off as an expense against the rental income from that property.
I am advised by the Revenue Commissioners that as personal income tax returns of foreign rental income are not required to separately identify claims for interest relief from claims for other expenses such as repairs, insurance and management expenses there is, therefore, no statistical basis on which they can provide an estimate of cost relating to the amounts of interest relief involved.
Questions Nos. 209 and 210 answered with Question No. 188.
