Oireachtas Joint and Select Committees

Tuesday, 15 November 2022

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2022: Committee Stage (Resumed)

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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I thank the Deputy for the question he has put to me. The last time this measure was examined was in 2019. At that time, the review stated the policy objective of assisting firms in Ireland to diversify their exports remained valid and did not raise any issues that merited a significant change to the scheme. Indeed, it recommended its extension until 2024. That said, the Deputy is raising an important matter. We do not have any evidence of issues that lead us to claim the relief is being abused in the way the Deputy has mentioned. The Department intends to review the scheme again in 2024. When that occurs, in just over a year, I have little doubt that the matter will be examined to determine whether any activity is being carried out in the foreign markets that should be carried out at home.