Robert Troy (Longford-Westmeath, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

86. To ask the Minister for Finance the first year and full year costs following the changes announced in budget 2020 of equalising the earned income credit with PAYE credit. [42371/19]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by Revenue that the first and full year costs of further increasing the Earned Income Tax Credit by €150, to equalise the level with the PAYE Credit, are estimated to be in the order of €20m and €35m respectively.

Robert Troy (Longford-Westmeath, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

87. To ask the Minister for Finance the first year and full year cost to the Exchequer following the changes announced in budget 2020 of the change to the research and development tax credit (details supplied) in tabular form. [42372/19]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

It is assumed that the Deputy is referring to the Budget 2020 change to increase the Research and Development (R&D) tax credit from 25% to 30% on qualifying expenditure for relevant micro and small companies. This measure is being introduced subject to State aid approval.

I am advised by Revenue that the estimated cost of increasing the rate from 30% to the levels indicated by the Deputy, for micro and small companies only, is set out in the following table. These costs do not include the impact of any behavioural change.