Willie O'Dea (Limerick City, Fianna Fail)
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Question 216: To ask the Minister for Finance if he has introduced a special assignee release programme; if not, when this will be completed; and if he will make a statement on the matter. [20082/12]

Michael Noonan (Limerick City, Fine Gael)
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Section 14 of Finance Act 2012 provides for the Special Assignee Relief Programme (SARP). The Act was signed into law by the President on 31 March 2012. The programme provides for an exemption from income tax on 30% of salary between €75,000 and €500,000 for employees that are assigned for a minimum of 1 year. The exemption is available for a maximum of 5 years. The scheme will operate through the PAYE system as a deduction from income tax, but USC will continue to be payable on the full income amount. Social Insurance will also be payable.

The scheme has been introduced for an initial three-year period ending on 31 December 2014, in order to allow for review. Any assignee that avails of the scheme during this time will have access to the relief for the period of their assignment, up to the maximum 5 years.