Written answers
Tuesday, 16 April 2019
Department of Finance
Tax Reliefs Abolition
Billy Kelleher (Cork North Central, Fianna Fail)
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142. To ask the Minister for Finance the estimated amount of revenue that would be generated if the abolition of tax relief for private health insurance premiums and the capping of such relief at 12% were introduced. [17414/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that, based on 2016 data, the latest year for which a complete set of data are available, the annual yield to the Exchequer from the abolition of tax relief for private health insurance premiums is tentatively estimated to be of the order of €325 million.
The estimated yield to the Exchequer from reducing the current rate of tax relief from the standard rate of 20% to 12% would be of the order of €130 million per year.
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