Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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44. To ask the Minister for Finance if he will review corporate tax reliefs; and if he will make a statement on the matter. [21491/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy will be aware, a comprehensive review of the Irish Corporate Tax system, undertaken by Mr Seamus Coffey as an independent expert, was published in 2017.

The terms of reference for the Review of Ireland’s Corporation Tax Code included: tax transparency; avoiding preferential treatment; further implementing Ireland’s international commitments; delivering tax certainty; maintaining competitiveness; and maintaining the 12.5% corporation tax rate.

The Review was followed by a public consultation on the review's recommendations and on the implementation of the Anti-Tax Avoidance Directive (ATAD).  Implementation of the measures agreed at EU level under the ATAD, which include the introduction of Controlled Foreign Corporation rules, anti-hybrid rules, a new interest limitation ratio, the revision of exit tax provisions and review of the general anti-abuse rule, is a very significant undertaking which will substantially transform the corporate tax system over the coming years.

With regards to targeted tax reliefs, the Irish corporation tax regime contains a small number of specifically targeted tax reliefs.  The focus of these reliefs is on the creation of additional employment, as is consistent with current government policy, and on innovation, with a view to generating high value-added economic activity in the country.  My Department carries out regular reviews of targeted tax reliefs in line with the Department of Finance’s Tax Expenditure Guidelines published in 2014.  For example in the current year, reviews of the 3 Year Start-Up Relief and the Film Relief are in progress.