Corporation Tax

Ceisteanna (63)

Michael McGrath

Ceist:

63. Deputy Michael McGrath asked the Minister for Finance the status of the escrow account holding the funds received from a company (details supplied); the amount initially invested into the account; the net asset value of the account; the potential loss that will be incurred by the company if the funds are returned to the company; the potential loss that will be incurred by Ireland if the funds are handed over to Ireland; the cost of legal expenses incurred by the State in setting up the escrow account; and if he will make a statement on the matter. [51018/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The total amount recovered from Apple in respect of alleged state aid and placed in an Escrow Fund was €14,285 billion which is the principal and relevant EU interest.

Annual accounts for the Escrow Fund are compiled and audited by the Office of the Comptroller and Auditor General. The latest publicly available set of accounts are for 2018 and show that as at 31 December 2018, the financial assets held in the Escrow fund amounted to €14.271 billion. The decrease in the value of the Fund was the result of changes in the value of financial assets, combined with interest expenses, resulting in an overall decrease of €14 million in the value of the Fund. A further €2 million operating expenses has been accrued at the year end.

The full report is available in the following link: https://www.audit.gov.ie/en/Find-Report/Publications/2019/2018-Annual-Report-Chapter-20-Ireland-Apple-Escrow-Fund.pdf

The arrangements in the Escrow Framework Deed include the agreement that all claims of ownership and access to this money is suspended until the European Courts have concluded proceedings that the Government and Apple have brought. In general terms, all income and expenses, including any gains or losses, will accrue to the Escrow Fund. Depending on the final outcome of the European Court proceedings it is likely that the balance of the Fund at that time will be made available to the successful party i.e. if Ireland and Apple are unsuccessful in their case to Ireland, and if Ireland and Apple are successful in their case to Apple.

It is not possible at this stage to determine any potential losses or gains that may accrue to the Escrow Fund when the European Courts have made a final determination over the validity of the Commission's decision. The performance of the escrow fund is determined by the prevailing interest rate environment and the asset credit quality over the duration of the escrow fund. For illustrative purposes, the NTMA estimates that in the current negative interest rate environment, the escrow fund could decline by 0.5% per annum. On a €14 billion fund, this would amount to a loss of c. €70 million per annum.

Over the past seven years approximately €7.5 million (including VAT) has been paid for external services relating to the case, of which approximately €3.9 million relates to the recovery process. This includes all legal costs, consultancy fees and other associated costs. These fees have been paid by the Department of Finance; the Revenue Commissioners; the NTMA; the Central Bank of Ireland; the Attorney General’s Office; and, the Chief State Solicitor’s Office.

The accounts of the Fund will be produced on an annual basis and information on the value of the Fund will not be provided outside this process.

Departmental Staff Data

Ceisteanna (64, 65)

Michael McGrath

Ceist:

64. Deputy Michael McGrath asked the Minister for Finance the number of open roles in his Department by functional area and position; the length of time the role has remained unfilled in each case; and if he will make a statement on the matter. [51019/19]

Amharc ar fhreagra

Michael McGrath

Ceist:

65. Deputy Michael McGrath asked the Minister for Finance the number of persons working in his Department by department or functional area; the number at the end of each year since 2015 by department or functional area; and if he will make a statement on the matter. [51020/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 64 and 65 together.

I wish to inform the Deputy that with regard to any vacancies in the Department of Finance, the Department is committed to the Civil Service Workforce Planning process and has a robust Recruitment and Selection policy which feeds into an ongoing Resource Review conducted and directed by the Executive Board. This process identifies on a case by case basis, both current and upcoming resource requirements in the Department and the best method to fill each vacancy. The timescale for filling vacancies from open or interdepartmental competitions varies and is dependent on the availability of panels from the Public Appointments Service (PAS). The absence of a PAS panel will generally delay the filling of a vacancy. Internally run competitions in the Department generally have a quicker turnaround time. To date in 2019 52 new staff have joined the Department and we currently have 9 vacancies as follows: 1 Principal Officer, 2 Administrative/Higher Executive Officer, 4 IGEES Administrative Officers and 2 Executive Officers. We are expecting to receive candidates to fill these posts in early 2020.

The Deputy should note that the structure of the Department of Finance has changed over the years and I am answering the Parliamentary Question as per the structure of the Department now. The number of persons working in the Department of Finance by functional area at the end of each year since 2015 to date is set out in the following table as Full Time Equivalents.

Number of persons working in the Department of Finance by functional area at the end of each year since 2015 to date:

Division

2019 (as at 2 Dec 2019)

2018

2017

2016

2015

Economic

32.4

33.2

30.7

27.6

23.8

Tax Policy

45.2

47.4

38.53

34.3

32.5

EU & International

21.5

21.33

24.9

21.7

19.4

Banking

32.56

31.33

31.13

24.93

21.93

Funds, Insurance, Markets & Pensions

29.5

30.8

30.8

30.6

27.5

Shareholding & Financial Advisory

16

18.6

19.5

18.5

19.5

International Finance

22.4

23

24.47

33.67

29.77

Human Resources

13

13

11

12

13

Facilites Management Unit

37.4

37.8

38

38

40

Corporate Affairs (including Secretary General's and Minister Offices)

41.23

40.03

35.6

22

22

Exchequer, Accounts

19.85

25.64

26.5

37

36

Total

311.0

322.1

311.1

300.3

285.4

Banking Sector

Ceisteanna (66)

Michael McGrath

Ceist:

66. Deputy Michael McGrath asked the Minister for Finance when legislation will be introduced to bring in the senior executive accountability regime; and if he will make a statement on the matter. [51022/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

As the Deputy will be aware, the Senior Executive Accountability Regime (SEAR) is a key element of the planned Central Bank (Amendment) Bill. My officials continue to work on this complex piece of legislation as the Bill's provisions must provide for an Individual Accountability Framework on the basis of sound principles so as to drive a better culture in the banking sector and wider financial sector.

My officials will be engaging with the Attorney General's Office in advance of submitting draft heads of Bill to Government so as to ensure that the correct balance between additional powers for the Central Bank and the protection of individuals' constitutional rights is struck and that the provisions of the Bill are constitutionally sound in the event of legal challenge.

It remains my intention to bring forward draft heads of Bill to Government for approval by the end of the year, however, this is a challenging schedule. This timetable remains subject to other competing legislative priorities, including any Brexit-related matters that may arise.

Central Bank of Ireland Data

Ceisteanna (67)

Michael McGrath

Ceist:

67. Deputy Michael McGrath asked the Minister for Finance the number of open roles in the Central Bank by functional area and position; the length of time the role has remained unfilled in each case; and if he will make a statement on the matter. [51024/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am informed by the Central Bank that it has 86 open roles as at the end of November, which are at varying stages of the recruitment process. The average time to hire is currently nine weeks. I refer the Deputy to the following table which provides a full breakdown of active vacancies by Pillar and Directorate.

Pillar name

Directorate

# Active Vacancies

Central Banking

Economics and Statistics

3

Central Banking

Corporate Affairs

8

Central Banking

Financial Stability

2

Total

13

Pillar name

Directorate

# Active Vacancies

Financial Conduct

Consumer Protection

10

Financial Conduct

Enforcement

2

Financial Conduct

Policy and Risk

8

Financial Conduct

Securities & Markets Supervision

3

Total

23

Pillar name

Directorate

# Active Vacancies

Prudential Regulation

Asset Management Supervision

3

Prudential Regulation

Credit Institutions

9

Prudential Regulation

Insurance

9

Prudential Regulation

Office of Deputy Governor

1

Prudential Regulation

Prudential Analysis & Inspections

10

Total

32

Pillar name

Directorate

# Active Vacancies

Chief Operations Officer

Human Resources

13

Chief Operations Officer

Information Management Training

5

Total

18

Overall total

86

Central Bank of Ireland Data

Ceisteanna (68)

Michael McGrath

Ceist:

68. Deputy Michael McGrath asked the Minister for Finance the number of licence applications made to the Central Bank between 2014 and 2019 by the type of financial services provider, that is, retail credit firm and so on; and if he will make a statement on the matter. [51025/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The Central Bank informs me that as a general point, the Bank cannot comment on regulatory relationships or applications for authorisation. The Central Bank is committed to providing a clear, open and transparent authorisation process while ensuring a rigorous assessment of the applicable regulatory standards. To support this, on a semi-annual basis, the Central Bank publishes a Regulatory Service Standards Performance Report, which is up to date to H1 2019. The document sets out the Central Bank’s performance against Service Standards that it has committed to in respect of authorisation of FSPs and Investment Funds processing of PCF IQ applications and contact management. These reports can be found on the Bank's website in the following link: https://www.centralbank.ie/docs/default-source/regulation/how-we-regulate/authorisation/service-standards-performance-reports/regulatory-service-standards-performance-report-h2-2018.pdf

The Central Bank can, however, more broadly comment on the number of licences granted on an ongoing basis. Information on these is provided in the following table, categorised by type of provider.

2014

2015

2016

2017

2018

2019 (to date)

Retail Intermediaries, including

- Investment Intermediaries

- Insurance/Reinsurance Intermediaries

- Mortgage Intermediaries

194

214

180

231

139

144

Money Transmitters and Bureaux de Change

0

2

0

0

0

1

Moneylenders*

38

39

39

39

38

35

Retail Credit Firms & Home Reversion Firms

1

3

3

2

0

1

Credit Servicing Firms

N/A

N/A

N/A**

8

1

0***

Payment Institutions

0

1

0

1

1

4

Electronic Money Institutions

0

1

1

0

0

8

Debt Management Firms

1

2

3

2

0

0

Funds (including sub-funds)

807

953

775

828

1123

625

Internally Managed AIFMs

18

5

1

1

0

0

ICAV registrations

N/A

129

145

144

125

60

Banking licenses

0

1

0

0

0

1

Insurance and reinsurance undertaking

7

9

2

6

6

8

Trust or Company Service Providers

30

7

5

27

4

1

MiFID - Investment firms

4

4

2

1

10

20

MiFID - Branches of overseas firms

5

7

1

1

0

5

Non-Retail Investment Business Firms

0

2

0

0

0

0

Fund Service Providers

8

8

8

8

19

15

AIFMs - Authorised External AIFMs

54

10

4

7

17

17

AIFMs - Registered External AIFMs

25

6

8

13

6

5

Post Authorisation Extensions****

-

-

-

10

7

14

Acquiring Transactions

52

47

71

59

52

51

*A moneylender’s licence is valid for a 12 month period and must be renewed annually prior to expiry. This category includes licences issued for the first time and renewals.

**Part V of the Central Bank Act, 1997 was amended by the Consumer Protection (Regulation of Credit Servicing) Act 2015 to provide for a regulatory regime in respect of credit servicing firms, bringing such firms within the Central Bank’s regulatory remit. The first authorisations were issued in 2017.

***37 Credit Servicing Firms have notified the Central Bank that they wish to avail of the transitional provisions provided for under Section 34FA(1) of the Central Bank Act, 1997 as further amended by the Consumer Protection (Regulation of Credit Servicing) Act 2018 in H1 2019.

**** Refers to existing authorised firms that extended their regulatory permissions during the period.

Central Bank of Ireland Data

Ceisteanna (69)

Michael McGrath

Ceist:

69. Deputy Michael McGrath asked the Minister for Finance the number of open licence applications with the Central Bank; the length of time these applications have remained open; the type of financial services provider in each case; and if he will make a statement on the matter. [51026/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The Central Bank cannot comment publicly on individual regulatory relationships or the applications for authorisation of specific firms.

Information relating to the number of applications that have been processed by the Central Bank is published on its website, available at: https://centralbank.ie/regulation/how-we-regulate/authorisation/service-standards

The Central Bank publishes Regulatory Service Standards Performance reports twice a year.

The H1 2019 report is available at: https://centralbank.ie/docs/default-source/regulation/how-we-regulate/authorisation/service-standards-performance-reports/regulatory-service-standards-performance-report-h1-2019.pdf

The report for H2 2019 will be published in early 2020.

For the Deputy's convenience, the H1 2019 information is summarised in the table in the following link.

HI Information

*Number of submissions received in relation to all applications. An application will typically have multiple submissions prior to being cleared/authorised.

During the period January to June 2019, there were:

35 applications / submissions withdrawn by the applicant firm, and

21 applications / submissions deemed dormant due to lack of engagement from the applicant firm.

Revenue Commissioners Data

Ceisteanna (70, 74)

Michael McGrath

Ceist:

70. Deputy Michael McGrath asked the Minister for Finance the number of open roles in the Revenue Commissioners by functional area and position; the length of time the role has remained unfilled in each case; and if he will make a statement on the matter. [51027/19]

Amharc ar fhreagra

Michael McGrath

Ceist:

74. Deputy Michael McGrath asked the Minister for Finance the number of persons employed by the Revenue Commissioners each month since the start of 2016 by functional area; and if he will make a statement on the matter. [51031/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 70 and 74 together.

I am advised by Revenue that its Vote for 2019 provides for a Whole Time Equivalent (WTE) staff complement of 6,384, this includes funding for 270 of the additional 600 staff that Revenue had determined would be required on a phased basis in the period up to the end of December 2020, for an orderly Brexit including a transition period for withdrawal of the UK from the EU. Following the Government decision in December 2018 to give greater priority to preparations for a ‘No Deal’ Brexit, it was agreed to accelerate Revenue’s recruitment plans. Revenue continuously adjusts its recruitment, training and deployment of staff in response to business needs including Brexit -related developments. Revenue’s current serving permanent staff number (as at 30 November 2019), is 6,638 (WTE). Therefore, there are no vacancies at this time. To date in 2019, the average weekly serving permanent staff number is 6,443 (WTE).

To date in 2019, Revenue has appointed over 1,040 staff from open and interdepartmental competitions, at all levels and across a range of functions and specialist areas including tax; information technology; accounting and legal professionals; data analysts; economists; and for Brexit-related roles including Trade Facilitation. Revenue recruitment is an iterative process, critical posts are filled to meet business requirements and recruitment is undertaken to maintain and enhance capability. Revenue is currently recruiting or has recruitment plans in place to fill all critical posts in the context of projected retirements and business needs in 2020.

Revenue have also advised me that its Vote for each of the years 2016, 2017 and 2018 provided for a staff complement of 5,924, 6014 and 6,114 WTE respectively and the average weekly serving WTE in each of those years was 5,911, 6,008 and 6,085 WTE respectively. Revenue’s structure has evolved over time with a focus on ensuring that appropriate resources are applied in response to tax and duty risk. In particular, during 2018, Revenue changed its structure to align resources with risk in five new national Divisions. These changes are reflected in the tables in the following link, which set out the WTE staff complement by functional area, by month, from 2016 to date.

Payments

Tax Appeals Commission

Ceisteanna (71)

Michael McGrath

Ceist:

71. Deputy Michael McGrath asked the Minister for Finance the number of open roles in the Tax Appeals Commission by functional area and position; the length time the role has remained unfilled in each case; and if he will make a statement on the matter. [51028/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

There has been a significant increase in staffing at the Tax Appeals Commission (TAC) since its establishment in March 2016, increasing from 2 Commissioners and 5 administrative staff at end 2016 to 5 Commissioners and 22 administrative staff in 2019

This increase in staffing follows in large part from an independent review of the workload and operations of the Tax Appeals Commission that I commissioned in 2018. The resulting O’Donoghue report, published with Budget 2019, recommended that the appropriate staffing complement at the TAC should be 33 persons. Sanction and funding for these posts was provided in the TAC’s 2019 budget allocation and recruitment has been ongoing throughout the year within the TAC for technical and administrative posts.

I have also appointed three new Temporary Appeal Commissioners (2.5 full-time equivalent), two of whom took up office in September, with the third due to commence in the coming weeks. Finally, legislative change was required in order to create the role and responsibilities of the Chair of the TAC, as recommended by the O’Donoghue report. The necessary legislation has now completed scrutiny in the Oireachtas and will be signed into law shortly, following which recruitment for the position can commence.

The Tax Appeals Commission has advised that the staffing vacancies within the Commission as at 3 December 2019 is presented in the following table and is reflective of the staff provisions as recommended by the O’Donoghue report:

Vacancies

Financial Services and Pensions Ombudsman Data

Ceisteanna (72)

Michael McGrath

Ceist:

72. Deputy Michael McGrath asked the Minister for Finance the number of open roles in the Financial Services and Pensions Ombudsman by functional area and position; the length time the role has remained unfilled in each case; and if he will make a statement on the matter. [51029/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

In December 2018 the Financial Services and pensions Ombudsman (FSPO) submitted a Workforce Plan for the period 2019 to 2023 to my Department, which included an objective analysis of the level of resources currently available to the FSPO against both current and future demand for its services. The Workforce Plan aims to address the large existing caseload which the Office inherited on 01 January 2018, along with the sustained pattern of increased demand which the office continues to experience.

Following a review of this work force plan, on the 26th March 2019, I approved a substantial increase in staff for the recruitment of an additional 35 staff members as per the following details:

Additional Posts Sanctioned (2019)

Assistant Principal

Higher Executive Officer

Executive Officer

Clerical Officer

Total

5

11

15

4

35

The sanction to recruit an additional 35 posts brings the overall approved sanction for the FSPO to 90.2. Where possible, existing panels have been used to fill vacancies as they have arisen. In addition, recruitment campaigns were undertaken in May 2019, for the grades of Executive Officer and Higher Executive Officer, and in September 2019 for the grades of Executive Officer and Clerical Officer.

Priority is being given to the filling of vacancies within the following functional areas:

- Dispute Resolution / Mediation

- Investigation / Adjudication / Legal Services

The FSPO recently filled the position of Principal Officer for the Corporate and Communications Service. The recruitment of additional resources is at an advanced stage and it is envisaged that the majority of vacancies will be filled by the 31st January 2020, as set out in the following table.

There is also a vacancy, since April 2019, for the position of Deputy Financial Services and Pensions Ombudsman, and it is expected that this will be filled early in the New Year.

-

Recruitment complete – Due to be filled by 31.01.20

Not yet recruited

SOH

1

0

Principal Officer

1

0

Assistant Principal

0

3

HEO

2

0

EO

13

4

CO

6

0

Total

23

7

Central Bank of Ireland Data

Question No. 74 answered with Question No. 70.

Ceisteanna (73)

Michael McGrath

Ceist:

73. Deputy Michael McGrath asked the Minister for Finance the number of persons employed by the Central Bank each month since the start of 2016 by functional area; and if he will make a statement on the matter. [51030/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Details on the number of persons employed by the Central Bank in each month since the start of 2016 by functional area have been provided by the Bank in the following spreadsheet in response to the Deputy's question.

Employee Numbers

Question No. 74 answered with Question No. 70.

Tax Appeals Commission

Ceisteanna (75)

Michael McGrath

Ceist:

75. Deputy Michael McGrath asked the Minister for Finance the number of persons employed by the Tax Appeals Commission each month since the start of 2016 by functional area; and if he will make a statement on the matter. [51032/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The Tax Appeals Commission (TAC) was established on 21st March 2016, taking over from the former Office of the Appeal Commissioners. Since its establishment, staffing at the Commission has grown from two Commissioners and four administrative staff, to five Commissioners and twenty three administrative staff at various grades as of end-October 2019. The following tables provide details of the number of persons, by grade, employed by the TAC each month.

Staff

NAMA Accounts

Ceisteanna (76)

Michael McGrath

Ceist:

76. Deputy Michael McGrath asked the Minister for Finance the projected surplus from the National Asset Management Agency; the return on investment this will represent; if the surplus will be received into the Exchequer when NAMA is wound up; and if he will make a statement on the matter. [51033/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

As part of its Annual Report for 2018, NAMA revised its projected surplus to be returned to the State to €4 billion, subject to prevailing market conditions. This figure was reaffirmed in the Section 53 Annual Statement 2020 which was laid before the Houses of the Oireachtas in October 2019. The realisation of the surplus depends on the success of NAMA’s ongoing deleveraging and the completion of its Dublin Docklands SDZ and residential funding programmes.

NAMA’s €4 billion surplus represents a projected entity return on investment (EROI) of 37%. The EROI is based on the comparison of NAMA’s projected terminal surplus position with NAMA’s initial investment, as adjusted to exclude the €5.6 billion in State Aid which NAMA was required to pay to the participating institutions as part of the loan acquisition price. NAMA’s EROI target benchmark, as approved by its Board in 2014, is 20%.

It is important to note that the surplus has yet to fully crystallise and that the transfer of surplus funds to the Central Fund can only begin after NAMA's remaining subordinated debt and equity obligations have been repaid in full, which is expected to be in mid-2020. It is envisaged that €2 billion will be transferred to the Exchequer in 2020 with a further €2 billion being transferred in 2021. This timeline is contingent on NAMA’s projected surplus of €4 billion remaining unchanged and prevailing market conditions that may determine the timing and disposal proceeds of residual assets.

Any NAMA surplus paid, while Exchequer positive, will not impact the general government balance, in line with Eurostat rules. It will be a decision for the Government as to how any surplus returned by NAMA will be utilised within the framework of the fiscal rules at that time. The intention has always been to use such receipts from the resolution of the financial sector crisis to pay down our national debt and reduce our debt servicing costs.

Revenue Commissioners Data

Ceisteanna (77, 78)

Michael McGrath

Ceist:

77. Deputy Michael McGrath asked the Minister for Finance the annual cost of the research and development tax credit for the past five years including 2019; the number of companies that availed of the scheme in each of the years, by multinational and SME companies; and if he will make a statement on the matter. [51034/19]

Amharc ar fhreagra

Michael McGrath

Ceist:

78. Deputy Michael McGrath asked the Minister for Finance the annual cost of the knowledge development box in each year since its creation; the number of companies that availed of the scheme in each of the years, by multinational and SME companies; and if he will make a statement on the matter. [51035/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 77 and 78 together.

I am advised by Revenue that the annual cost of the Research and Development (R&D) tax credit and the number of companies that availed of it for years up to 2017, the most recent year for which data is available, is published on the Revenue website at the following link:

https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/r-and-d-tax-credits.aspx.

The available information in respect of multinational and SME companies is split between companies administered by Revenue’s Large Corporates Division (LCD) and non-LCD companies. Most of the companies administered by LCD are multinational companies. Also shown is the distribution of the R&D claims by the number of employees of the claimant companies.

The Deputy will be aware that I am introducing a number of amendments to the R&D tax credit as part of this year’s Finance Bill, including additional supports for micro and small companies which will be subject to State aid approval.

In relation to the Knowledge Development Box (KDB), the number of claimants and cost are published in Revenue’s paper on 2018 Corporation Tax payments and 2017 tax returns, which is available on the Revenue website at the following link: https://www.revenue.ie/en/corporate/documents/research/ct-analysis-2019.pdf Table 13 of the paper shows the KDB claims. Due to the small numbers of taxpayers claiming KDB, Revenue cannot comment further on the size of the claimant companies.

The Deputy may be aware that a claimant company has a period of up to 24 months to make a claim for KDB relief. It is anticipated that companies will make use of the 24 month time frame available. Final figures in respect of 2017 and preliminary figures in respect of 2018 will become available in 2020, following analysis of corporation tax returns by Revenue.

Tax Reliefs Data

Ceisteanna (79)

Michael McGrath

Ceist:

79. Deputy Michael McGrath asked the Minister for Finance the annual cost of the entrepreneurial relief in each year since its establishment including 2018; the number of companies that availed of the scheme in each of the years, by multinational and SME companies; and if he will make a statement on the matter. [51036/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I assume the Deputy is referring to Capital Gains Tax Entrepreneur Relief provided for in section 597AA of the Taxes Consolidation Act 1997.

I am advised by Revenue that the number of claims and the cost of this Relief for 2016 to 2017 are published at the following link on Revenue's website:

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

I am also informed by Revenue that 2017 is the most recent year for which data are available in respect of the Deputy's query.

As the Relief is claimed by individuals, information in respect of multinational and SME companies is not applicable.

Revenue Commissioners Data

Ceisteanna (80)

Michael McGrath

Ceist:

80. Deputy Michael McGrath asked the Minister for Finance the annual cost of the special assignee relief programme for the past five years including 2018; the number of companies that availed of the scheme in each of the years, by multinational and SME companies; and if he will make a statement on the matter. [51037/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am informed by Revenue that the annual cost of the Special Assignee Relief Programme (SARP) for 2012 to 2017 (the most recent year for which data are available) is as follows:

Year

€m

2012

0.1

2013

1.9

2014

5.9

2015

9.5

2016

18.1

2017

28.1

Further information can be found at the following link:

https://www.revenue.ie/en/corporate/documents/research/sarp-report-2017.pdf.

For individuals to qualify for SARP, they must be an employee of a multinational company, so a breakdown in respect of multinational and SME companies is not applicable.

Revenue Commissioners Data

Ceisteanna (81)

Michael McGrath

Ceist:

81. 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. [51038/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Revenue advise me that the Foreign Earnings Deduction (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 data on the number of companies associated with employees availing of the scheme, or to give a breakdown down by multinational and SME.

I am advised by Revenue that the annual cost of the incentive for 2013 to 2017, the latest year for which data are currently available, is as follows:

Year

Cost €M

2017

3.9

2016

3.5

2015

3.2

2014

1.1

2013

1

This information is also available at the following link:

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

Departmental Programmes

Ceisteanna (82)

Michael McGrath

Ceist:

82. Deputy Michael McGrath asked the Minister for Finance the take-up of the key employee engagement programme in each month since its establishment; the number of companies that availed of the scheme in each of the years by multinational and SME companies; and if he will make a statement on the matter. [51039/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by Revenue that 10 companies granted share options qualifying for the Key Employee Engagement Programme (KEEP) to 87 key employees during 2018 (the first year of the scheme). I understand that a breakdown by month is not possible.

Generally, a key employee must hold the option for 12 months prior to exercise and therefore 2019 will be the earliest date that individuals are likely to exercise their options to acquire shares in the qualifying companies. Returns for 2019 will not be filed with Revenue until 2020. KEEP is only available to SMEs, so a breakdown in respect of multinational and SME companies is not applicable.