Written answers
Tuesday, 6 July 2010
Department of Finance
Fiscal Policy
10:00 am
Joan Burton (Dublin West, Labour)
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Question 130: To ask the Minister for Finance further to Parliamentary Question No. 94 of 17 June 2010, the number of cost benefit analysis that have been carried out since 2006 on major tax expenditure schemes; and if he will make a statement on the matter. [29321/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Deputy will be aware that the following reviews were carried out in 2005 and 2006 as follows (1) Indecon Review of Property-based Tax Incentive Schemes; (2) Goodbody Review of Area-Based Tax Incentive Schemes and (3) an Internal Review of Certain Tax Schemes by the Department of Finance. Furthermore Goodbody Economic Consultants carried out a review of the Proposed Shannon Corridor Tourism Infrastructure Scheme in 2006. The Deputy will also be aware that my Department has recently completed a Report on a cost-benefit analysis of Tax Expenditures provided for in Finance Act 2010, setting out the costs of the tax forgone, and the benefits in terms of job creation or otherwise.
The focus in recent years has been, in line with the recommendations of the Commission on Taxation to further restrict and where appropriate terminate major tax expenditures. All expenditure projects are subject to in depth analysis, consultation with key stakeholders, and a rigorous examination at the introductory stage. My Department monitors large expenditure projects and regularly carries out reviews.
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