Written answers
Wednesday, 2 October 2019
Department of Finance
Employment and Investment Incentive Scheme
Robert Troy (Longford-Westmeath, Fianna Fail)
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119. To ask the Minister for Finance further to Parliamentary Question No. 164 of 4 December 2018, the updated cost of adapting the employment and investment incentive scheme (details supplied) in tabular form. [40109/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that the estimated cost to the Exchequer of increasing the current allowable tax relief cap of €150,000, available to individual investors under the Employment and Investment Incentive (EII) Scheme, in the manner described by the Deputy is set out in the following table.
| Threshold | Cost (€m) |
|---|---|
| €200,000 | 0.4 |
| €300,000 | 0.7 |
| €400,000 | 0.8 |
| €500,000 | 0.9 |
| €600,000 | 1.0 |
| €700,000 | 1.0 |
| €800,000 | 1.1 |
| €900,000 | 1.2 |
| €1M | 1.2 |
| €1.1M | 1.3 |
| €1.2M | 1.4 |
| €1.3M | 1.4 |
This costing assumes a maximum of relief of 30% and does not include the additional 10% relief that is currently available under the Scheme after a period of 4 years from the initial investment. It is based on actual data relating to the operation of scheme in 2017 and assumes that there are no behavioural changes as a result of the increased caps on the relief.
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