Written answers
Wednesday, 1 July 2009
Department of Finance
Tax Code
11:00 pm
Michael McGrath (Cork South Central, Fianna Fail)
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Question 108: To ask the Minister for Finance the position regarding tax incentives (details supplied). [26542/09]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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In my Budget speech on 14th October 2008, I announced the introduction of a new tax incentive scheme to facilitate the relocation of Seveso-listed industrial facilities which hinder the residential and commercial regeneration of Docklands in urban areas. The EU Seveso Directive seeks to protect public safety by placing land-use restrictions on new residential and commercial development near locations where potentially dangerous activities are undertaken.
The Deputy will also be aware that I indicated in my speech that this scheme will be subject to clearance by the European Commission from a State Aids perspective. Contact has been made with the EU Commission on the scheme and it is understood that it is currently being examined by the Commission as to whether it constitutes a State Aid.
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