Wednesday, 2 October 2019

Ceisteanna (116)

Robert Troy

Ceist:

116. Deputy Robert Troy asked the Minister for Finance his views on a proposal by an organisation (details supplied); and if costs would arise. [40106/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The Start-Up Capital Incentive (“SCI”) was introduced in Finance Act 2018 as a tax relief for early stage micro companies to attract equity based risk finance from family members, including parents, and other "connected persons" up to the €500,000 lifetime limit.

I am advised by Revenue that they are aware of the concern raised in the Deputy’s question. While acknowledging that the issue is raised in a third party publication, if the Deputy can provide any further information that would help to clarify the precise nature of the concern, Revenue will further examine the matter and I am advised by them, that they will issue updated guidance to provide clarity through the Tax Administration Liaison Committee.