Financial Resolution No. 31 is w section 248 of the Taxes Consolidation Act 1997 which was introduced in 1974 to incentivise individuals to invest in Irish companies by giving them tax relief in respect of interest paid on moneys borrowed to purchase an interest in or make a loan to a company. The relief was reviewed by the Department of Finance in 2005 when there was a general review of tax incentives. The findings at the time included that there was little evidence to show that the relief led to increased employment or had any notable effect on economic growth. It was also found that companies benefiting from the relief were not in general operating in sectors being actively supported by the State through Enterprise Ireland and that the majority of those individuals using the relief earned in excess of €200,000.

See this item in context