Dáil Éireann Debate, Wednesday - 9 September 2020
104. Deputy Ged Nash asked the Minister for Finance the tax reliefs exempted from the high-income individual restriction; the estimated additional yield if those reliefs were not exempted; and if he will make a statement on the matter. [22937/20]
Amharc ar fhreagraRevenue prepares an annual report on the High Income Individuals’ Restriction (HIIR), which is published at https://www.revenue.ie/en/corporate/information-about-revenue/research/statistical-reports/high-income-earners-reports.aspx. Table 3 on page 10 of the analysis for 2017 shows, in relation to each specified relief, the number of individuals subject to the Restriction who declared that they used the relief. It also includes the amount of the relief declared as used by those individuals. I expect that report for 2018 will be published shortly.
I am advised by Revenue that it is not possible to assess the implications of the extension of the restriction to other reliefs, as such reliefs are not reported on HIIR returns filed by the relevant individuals. In any event, the purpose of the HIIR is to limit reliefs so that the relevant cohort of high earning taxpayers is paying a minimum effective rate. The HIIR analysis published by Revenue indicates that this outcome is already being achieved. The limiting of further reliefs in the manner suggested would therefore have no effect on the yield of the HIIR since the restriction only applies up to the point where an individual meets the minimum effective rate and not beyond that point.
