Written answers
Thursday, 11 July 2019
Department of Finance
Tax Deduction Systems
Michael McGrath (Cork South Central, Fianna Fail)
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178. To ask the Minister for Finance the annual cost of the foreign earnings deduction for the past five years including 2018; the number of companies that availed of the scheme in each of the years by multinational companies and SME companies; and if he will make a statement on the matter. [30805/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that the annual costs of the Foreign Earnings Deduction (FED) for 2012 to 2016, the latest year for which figures are currently available, are as follows:
| 2016 €m | 2015 €m | 2014 €m | 2013 €m | 2012 €m |
|---|---|---|---|---|
3.5 | 3.2 | 1.1 | 1 | 0.8 |
.
Revenue further advise me that FED is an allowance applied for by employees through their own tax returns and is not returned at a company level, therefore it is not possible to provide the data on the number of companies associated with employees availing of the scheme broken down by multinational and SMEs.
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