Written answers

Thursday, 11 July 2019

Department of Finance

Tax Deduction Systems

Photo of Michael McGrathMichael 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]

Photo of Paschal DonohoePaschal 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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