Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

This measure was introduced in the Finance Act 2016. It would be very sudden to remove the measure just one year after its implementation. Doing so would negatively affect Ireland's international messaging on the certainty of our tax system, which is crucially important to investment.

Signalling the change one year in advance will help to address any negative effect this change might have regarding confidence and certainty in the tax system.

The provision was put in place this time last year. It is being removed this year and rather than have a very disruptive alteration as quickly as that, we think it is right to give an opportunity to others to assess the impact the provision will have on their investment.