Thursday, 11 July 2019

Ceisteanna (178)

Michael McGrath

Ceist:

178. Deputy Michael McGrath asked the Minister for Finance the annual cost of the foreign earnings deduction for the past five years including 2018; the number of companies that availed of the scheme in each of the years by multinational companies and SME companies; and if he will make a statement on the matter. [30805/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

 I am advised by Revenue that the annual costs of the Foreign Earnings Deduction (FED) for 2012 to 2016, the latest year for which figures are currently available, are as follows:

2016

€m

2015

€m

2014

€m

2013

€m

2012 

€m

3.5

3.2

1.1

1

0.8

 https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/costs-expenditures.aspx.

Revenue further advise me that FED is an allowance applied for by employees through their own tax returns and is not returned at a company level, therefore it is not possible to provide the data on the number of companies associated with employees availing of the scheme broken down by multinational and SMEs.