Paul Gogarty (Dublin Mid West, Green Party)
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Question 120: To ask the Minister for Finance if he has considered establishing an annual review of all tax reliefs, incorporating cost benefit analyses measuring each relief's fiscal, economic, social and environmental effects the results of which would be put into the public domain; and if he will make a statement on the matter. [13374/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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Tax reliefs and incentives are regularly placed under review as part of the budget and Finance Bill process. The tax strategy group, whose papers are largely put into the public domain, has from the time of its establishment routinely reviewed tax expenditures and incentive relief provisions.

Second, as the Deputy is aware, I announced in my Budget Statement that my Department and the Office of the Revenue Commissioners would undertake a detailed review of certain tax incentive schemes and tax exemptions in 2005. This review is now underway and is evaluating their impact and operation, including their economic and social benefits for the different locations and sectors involved and to the wider community. In addition, the review is examining the question of horizontal measures which would balance the benefits of the reliefs and incentives with the degree to which these schemes allow high income individuals to reduce their tax liabilities.

The review involves a public consultation process, which was publicly advertised, and the views of public representatives and of the Social Partners were also requested. Some 80 submissions were received by mid-April and are being examined.

My Department has recently appointed external consultants to review certain property based tax incentive schemes. It is envisaged that the consultancy review of these various reliefs will be completed by end July 2005.

Finally, the review will also involve the examination by my Department and the Revenue Commissioners of certain other tax exemptions, for example, stallions, woodlands, artists and patent income. The aim is to have all these examinations completed by the autumn so that the various issues can be examined in the context of the 2006 budget next December.