Michael McGrath (Cork South Central, Fianna Fail)
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69. To ask the Minister for Finance in relation to the existing employment and investment incentive scheme, the cost of increasing the €150,000 annual investment limit for individuals to €200,000; €250,000 and €500,000; and if he will make a statement on the matter. [33831/15]

Michael McGrath (Cork South Central, Fianna Fail)
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70. To ask the Minister for Finance in relation to the existing employment and investment incentive scheme, the cost of permanently removing the scheme from the high earners’ restriction; and if he will make a statement on the matter. [33832/15]

Michael McGrath (Cork South Central, Fianna Fail)
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71. To ask the Minister for Finance in relation to the existing employment and investment incentive scheme, the cost of providing full income tax, universal social charge and pay related social insurance relief in the year of investment, rather than over two stages, as currently provided; and if he will make a statement on the matter. [33833/15]

Michael McGrath (Cork South Central, Fianna Fail)
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72. To ask the Minister for Finance in relation to the existing employment and investment incentive scheme, the cost of the tax expenditure in relation to the scheme in each year since it was established; the number of jobs it supports; and if he will make a statement on the matter. [33834/15]

Michael McGrath (Cork South Central, Fianna Fail)
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73. To ask the Minister for Finance in relation to the existing employment and investment incentive scheme, the cost of increasing the investment period to five years; and if he will make a statement on the matter. [33835/15]

Michael McGrath (Cork South Central, Fianna Fail)
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74. To ask the Minister for Finance in relation to the existing employment and investment incentive scheme, the cost of increasing the €10 million company investment life-time limit to €15 million; €20 million and €25 million; and if he will make a statement on the matter. [33836/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 69 to 74, inclusive, together.

The cost of increasing the €150,000 annual investment limit for individuals to €200,000, €250,000 and €500,000 would depend on future investment levels in excess of the existing annual investment level but there is no information available from returns filed with Revenue to predict these levels. It should be noted that in 2014, the most recent year available, it is estimated that over 70 individuals claimed relief under the Employment and Investment Incentive (EII) for investments at or near the limit of €150,000. This does not take into account individuals who invest via a fund.

The Deputy should note that it is not possible to state the cost of permanently removing the EII from the High Earners restriction as the effect of including the scheme in the restriction is to delay the relief rather than disallow it. This means the effect of removing it from the restriction would only lead to a temporary cash flow gain which could be in the region of €1 million each year from 2018. There would be no cash flow for earlier years as the scheme is not included in the restriction for investments before 1 January 2017.

The estimated cash flow cost of providing full Income Tax relief in the year of investment, rather than over two stages, as currently provided, would be in the region of €7 million to €10 million in the first year of introduction. The incentive does not provide relief from Universal Social Charge and Pay Related Social Insurance, so this has not been costed.

I am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' Statistics web page: . In particular, the tax expenditure section of the web page includes the cost of the scheme: .

Data in relation to the number of jobs supported will 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 3 year holding period 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.

In relation to increasing the investment period to five years, it is not possible to accurately estimate the impact of the tax cost but presumably there would be a disincentive effect on investment in the scheme which would likely lower the tax cost.

The cost of increasing the €10 million company investment lifetime limit to €15 million, €20 million and €25 million would depend on the ability of companies to secure investment in excess of the existing scheme. No company has utilised the full limit of €10 million so far.