Written answers
Tuesday, 30 September 2014
Department of Finance
Employment Investment Incentive Scheme
Peadar Tóibín (Meath West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source
182. To ask the Minister for Finance to state the level of investment that has been generated through the employment and investment incentive on an annual basis, the number of enterprises that have benefitted, the number of jobs that have been created and the cost to the Exchequer. [36623/14]
Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source
I am informed by the Revenue Commissioners that the available information regarding the Employment and Investment Incentive (EII) is as set out in the table below for the years 2012 and 2013 (the latest years available).
| Year | Amount Invested €m | Companies Benefitting | Tax Cost €m |
|---|---|---|---|
| 2012 | 13.4 | 78 | 4 |
| 2013 | 41.5 | 186 | 12.4 |
Data in relation to the number of jobs supported should become available at a later stage. Under the terms of the scheme, relief in respect of 30% of the amount invested in a qualifying company is granted to the investor in the year of investment while the balance is only due where it has been proven that employment levels have increased at the company at the end of the holding period (3 years) or where evidence is provided that the company used the capital raised for expenditure on research and development. Claims for the balance of the relief will be due from 2015.
No comments