Dáil Éireann Debate, Tuesday - 16 June 2020
55. Deputy Cormac Devlin asked the Minister for Finance the estimated full-year yield from standard rating all discretionary tax reliefs and expenditures that cost in excess of €5 million per year in revenue; the breakdown of each tax relief and expenditure; and if he will make a statement on the matter. [10516/20]
Amharc ar fhreagraI am informed by Revenue that the estimated yields from standard-rating discretionary tax reliefs and expenditures currently available at the marginal rate that cost in excess of €5 million per year are as shown in the following table. These yields are based on 2017 data. The estimates are tentative and do not account for alterations in taxpayer behaviour.
|
Relief or Expenditure |
Full Year Yield (€m) |
|
Employee Pension Contribution |
381 |
|
Carry forward of excess relief under the High-Income Earners Restriction |
46 |
|
Exemption of Interest on Savings Certificates, National Instalment Saving & Index Linked Saving Bonds |
27 |
|
Approved Profit-Sharing Schemes |
24 |
|
Donations to Charities and Approved Bodies |
12 |
|
Employment and Investment Incentive |
10 |
|
Health Expenses (Nursing Homes) |
7 |
|
Dispositions such as Maintenance Payments |
6 |
|
Rental Deduction for Leasing of Farm Land |
5 |
|
Employing a Carer |
3 |
|
Exemption of Certain Earnings of Writers, Composers and Artists |
5 |
|
Stock Relief (General) (S,666 Taxes Consolidation Act 1997) |
2 |
|
Exempt Income Rent A Room |
0.7 |
Further details on the costs of tax reliefs and expenditures, which may be of interest to the Deputy, are published on Revenue’s website at https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/index.aspx.
