Written answers
Tuesday, 16 June 2020
Department of Finance
Tax Data
Cormac Devlin (Dún Laoghaire, Fianna Fail)
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55. To ask the Minister for Finance the estimated full-year yield from standard rating all discretionary tax reliefs and expenditures that cost in excess of €5 million per year in revenue; the breakdown of each tax relief and expenditure; and if he will make a statement on the matter. [10516/20]
Paschal Donohoe (Dublin Central, Fine Gael)
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I am informed by Revenue that the estimated yields from standard-rating discretionary tax reliefs and expenditures currently available at the marginal rate that cost in excess of €5 million per year are as shown in the following table. These yields are based on 2017 data. The estimates are tentative and do not account for alterations in taxpayer behaviour.
| Relief or Expenditure | Full Year Yield (€m) |
|---|---|
| Employee Pension Contribution | 381 |
| Carry forward of excess relief under the High-Income Earners Restriction | 46 |
| Exemption of Interest on Savings Certificates, National Instalment Saving & Index Linked Saving Bonds | 27 |
| Approved Profit-Sharing Schemes | 24 |
| Donations to Charities and Approved Bodies | 12 |
| Employment and Investment Incentive | 10 |
| Health Expenses (Nursing Homes) | 7 |
| Dispositions such as Maintenance Payments | 6 |
| Rental Deduction for Leasing of Farm Land | 5 |
| Employing a Carer | 3 |
| Exemption of Certain Earnings of Writers, Composers and Artists | 5 |
| Stock Relief (General) (S,666 Taxes Consolidation Act 1997) | 2 |
| Exempt Income Rent A Room | 0.7 |
Further details on the costs of tax reliefs and expenditures, which may be of interest to the Deputy, are published on Revenue’s website at .
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