Dáil Éireann Debate, Wednesday - 2 October 2019
119. Deputy Robert Troy asked the Minister for Finance further to Parliamentary Question No. 164 of 4 December 2018, the updated cost of adapting the employment and investment incentive scheme (details supplied) in tabular form. [40109/19]
Amharc ar fhreagraI am advised by Revenue that the estimated cost to the Exchequer of increasing the current allowable tax relief cap of €150,000, available to individual investors under the Employment and Investment Incentive (EII) Scheme, in the manner described by the Deputy is set out in the following table.
|
Threshold |
Cost (€m) |
|
€200,000 |
0.4 |
|
€300,000 |
0.7 |
|
€400,000 |
0.8 |
|
€500,000 |
0.9 |
|
€600,000 |
1.0 |
|
€700,000 |
1.0 |
|
€800,000 |
1.1 |
|
€900,000 |
1.2 |
|
€1M |
1.2 |
|
€1.1M |
1.3 |
|
€1.2M |
1.4 |
|
€1.3M |
1.4 |
This costing assumes a maximum of relief of 30% and does not include the additional 10% relief that is currently available under the Scheme after a period of 4 years from the initial investment. It is based on actual data relating to the operation of scheme in 2017 and assumes that there are no behavioural changes as a result of the increased caps on the relief.
