Friday, 6 September 2019

Ceisteanna (171)

Róisín Shortall

Ceist:

171. Deputy Róisín Shortall asked the Minister for Finance the estimate of the first and full year yield from standard-rating all discretionary tax reliefs and expenditures that cost in excess of €10 million per annum in revenue foregone; and the breakdown for each tax relief and expenditure. [36933/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by Revenue that the full year estimated yields from standard-rating discretionary tax reliefs and expenditures, which currently apply at the marginal rate, and cost in excess of €10 million per annum in revenue foregone, are as follows.

Reliefs and Expenditures

Full Year Yield (€m)

Approved Profit-Sharing Schemes

24

Dispositions (including Maintenance Payments)

6

Donations to Charities and Approved Bodies

12

Employment and Investment Incentive

10

Exempt Income Rent A Room

0.7

Exemption of Certain Earnings of Writers, Composers and Artists

5

Exemption of Interest on Savings Certificates, National Instalment Saving & Index Linked Saving Bonds

27

Health Expenses (Nursing Homes)

7

Carry forward of excess relief under the High-Income Earners Restriction

49

Pension Contributions

553

Rental Deduction for Leasing of Farm Land

5

These yields are based on actual 2017 data, except for the High-Income Earners Restriction Carry Forward estimate, which is based on 2016 data. It is not possible to provide a first year costing due to the nature of the data utilised and how it is maintained on Revenue’s systems.