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Tax Reliefs Application

Dáil Éireann Debate, Tuesday - 27 September 2016

Tuesday, 27 September 2016

Ceisteanna (159)

Jack Chambers

Ceist:

159. Deputy Jack Chambers asked the Minister for Finance his plans to allow for a system of tax incentives for elite athletes who avail of sponsorship; and if he will make a statement on the matter. [26567/16]

Amharc ar fhreagra

Freagraí scríofa

I have no plans to introduce a system of tax incentives to assist elite athletes to attract sponsorship. The Deputy may be aware that the State already provides support to athletes both directly and indirectly, and my colleague the Minister for Transport, Tourism, and Sport has responsibility for such support.

I would draw the Deputy's attention to the sportsperson's relief, which takes the form of a deduction from earnings and can be claimed for any 10 years of assessment chosen by a qualifying professional sportsperson from the period comprising the year of retirement and the preceding 14 years of assessment.  Qualifying professional sportspersons include athletes, badminton players, boxers, cyclists, footballers, golfers, jockeys, motor racing drivers, rugby players, squash players, swimmers, tennis players and cricketers.  The amount of deduction available is set at 40% of the gross receipts, before deducting expenses, which arose wholly and exclusively from engaging in the sport. It does not apply where no direct sports earnings exist and is restricted to direct earnings from participation in certain sports.

As you will appreciate, I receive numerous requests for the introduction of new tax reliefs and the extension of existing ones. You will also appreciate that I must be mindful of the public finances and the many demands on the Exchequer.  Tax reliefs, no matter how worthwhile in themselves, reduce the tax base and make general reform of the tax system that much more difficult.

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