Thursday, 11 July 2019
Department of Finance
Tax Deduction Systems
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]
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:
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.