Wednesday, 2 October 2019

Ceisteanna (119)

Robert Troy

Ceist:

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 fhreagra

Freagraí scríofa (Ceist ar Finance)

I 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.