Gerald Nash (Louth, Labour)
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180. To ask the Minister for Finance the revenue accrued from the deemed disposal tax in 2018, 2019 and 2020, respectively; and if he will make a statement on the matter. [11007/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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It is assumed the Deputy is referring to deemed disposals under exit tax provisions contained in section 627 of the Taxes Consolidation Act 1997. In line with Ireland's commitments under the Anti-Tax Avoidance Directive(ATAD), an ATAD compliant exit tax regime was introduced as part of Finance Act 2018. The exit tax applies at a rate of 12.5% on unrealised gains arising where a company migrates or transfers assets offshore such that they leave the scope of Irish tax.

I am informed by Revenue that information in respect of section 627 is separately recorded on Corporation Tax returns from 2019 onwards. As returns for 2019 were only due in late 2020 for many companies, the data is still being analysed and is provisional at this stage. The provisional data for 2019 does not show any disposals under section 627. Information in respect of 2020 is not yet available as the filing deadlines for most accounting periods ending in 2020 have not yet passed.