Written answers
Wednesday, 16 October 2019
Department of Finance
Budget 2020
Robert Troy (Longford-Westmeath, Fianna Fail)
Link to this: Individually | In context | Oireachtas source
84. To ask the Minister for Finance the first year and full year costs of changes announced in budget 2020 to schemes (details supplied). [42369/19]
Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source
In Budget 2020 I announced policy changes to a number of taxation measures with the objective of supporting Enterprise, SMEs and the Agri-sector. This package of measures included the Key Employee Engagement Programme (KEEP), the Employment and Investment Incentive (EII), the Special Assignee Relief Programme (SARP), the Foreign Earnings Deduction (FED) and the Research and Development tax credit, amongst others.
Details of the costs of these policy measures are provided in the following table.
| Measure | 2020 Cost (€M) | Full Year Cost (€M) |
|---|---|---|
| Key Employee Engagement Programme Enhancements to the programme plus cost of measure in existing form | 0.5 | 10 |
| Employment and Investment Incentive Enhancements to the programme | 21 | 25 |
| Special Assignee Relief Programme Extension in its present form until 31 December 2022* | 0 | 20 |
| Foreign Earnings Deduction Extension in its present form until 31 December 2022* | 0 | 3.5 |
| R&D Tax Credit - Enhancements to credit for small and micro companies - Increased third level outsourcing limit | 0 | 23 |
The figures outlined in the above table are set out in Ireland’s Draft Budgetary Plan as submitted to the European Commission on 15 October 2019 and are reflected in the revised ‘Budget 2020 – Tax Policy Changes’ book, as laid before both Houses on the same date.
*As matters stand currently, this relief has a sunset clause of 31 December 2020.
No comments