Donnchadh Ó Laoghaire (Cork South Central, Sinn Fein)
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50. To ask the Minister for Finance further to Parliamentary Question No. 124 of 17 December 2019, if further consideration has been given to enhanced or expanded tax relief or other forms of incentives on teleconferencing equipment with the objective of reducing emissions by minimising unnecessary travel to meetings in view of recent developments and changes in the way in which society works in terms of employment; and if he will make a statement on the matter. [7062/20]

Paschal Donohoe (Dublin Central, Fine Gael)
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As I indicated to the Deputy in the question to which he refers, it is established Government practice to use exemptions or incentives in the tax system in limited circumstances where there are demonstrable market failures and where a tax-based incentive is more efficient than a direct expenditure intervention.

Despite the recent developments brought about by the Covid-19 pandemic, it is not clear that the circumstances indicate that an intervention specifically in relation to teleconferencing equipment would be appropriate.

That said, I am advised by Revenue that an annual allowance (known as a wear and tear allowance) is available for capital expenditure incurred on the provision of machinery or plant for business purposes. The allowances are granted at a rate of 12.5% per annum over 8 years. The item of plant or machinery must be in use at the end of the period for which the allowance is being claimed. Expenditure incurred on teleconferencing equipment would be eligible for the allowance provided such equipment is used for business purposes.