Niall Collins
Ceist:331. Deputy Niall Collins asked the Minister for Finance the cost to the Exchequer of adapting the employment and investment incentive (details supplied), in tabular form. [28733/17]
Amharc ar fhreagraTuesday, 20 June 2017
Ceisteanna (331)
Freagraí scríofa
The table sets out the cost to the exchequer (per investment) of a 30% relief for investors in the Employment and Investment Incentive at each of the investment points identified by the Deputy, assuming that the investor has a sufficient income tax liability to avail of the relief in full.
|
Amount € |
Tax Cost € |
Additional Cost Over Existing Ceiling € |
|
150,000 |
50,000 |
- |
|
200,000 |
60,000 |
10,000 |
|
300,000 |
90,000 |
40,000 |
|
400,000 |
120,000 |
70,000 |
|
500,000 |
150,000 |
100,000 |
|
600,000 |
180,000 |
130,000 |
|
700,000 |
210,000 |
160,000 |
|
800,000 |
240,000 |
190,000 |
|
900,000 |
270,000 |
220,000 |
|
1,000,000 |
300,000 |
250,000 |
|
1,100,000 |
330,000 |
280,000 |
|
1,200,000 |
360,000 |
310,000 |
|
1,300,000 |
390,000 |
340,000 |
As data in relation to the number of investors who might increase relevant investments, or who might make investments which are not currently made, is unavailable, it is not possible to project an overall potential cost for the increased thresholds proposed.
The Deputy may be interested to note that the level of investments made under the incentive has increased significantly in recent years, rising from €13.4 million in 2012 to €108.5 million in 2016. Detailed statistics on the take up of the scheme, the level of investments made, and the costs are available on the Revenue website at:
http://www.revenue.ie/en/corporate/documents/statistics/tax-expenditures/eii-stats-2012-2016.pdf.