Dáil Éireann Debate, Tuesday - 24 July 2018
240. Deputy Sean Fleming asked the Minister for Finance when a report on the effect of limiting tax relief on losses carried forward for banks will be produced in view of the commitment given on Committee Stage of the Finance Bill 2017; if a sunset clause and a comparison with the approach taken on losses by other administrations will be considered in the report; when the report will be published; and if he will make a statement on the matter. [33788/18]
Amharc ar fhreagraAt Committee Stage of Finance Act 2017, I agreed that my officials would produce a report on the effect of limiting the provision of tax relief for losses carried forward for banks. It was envisaged at the time that this report would be submitted to the Committee on Finance, Public Expenditure and Reform, and Taoiseach in June 2018. However, since this time, the proposed content of the report has been extended to include an examination of the restriction of loss relief for all corporate entities (such as a sunset clause or annual cap on profits that could be offset by existing losses). Therefore, it is now envisaged that this report will be laid before the committee within the coming weeks.
