Peadar Tóibín (Meath West, Aontú)
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147. To ask the Minister for Finance when a decision on extending and increasing the banking levy will be made. [34392/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, the Bank Levy was introduced for the three-year period 2014 to 2016 with the purpose of enabling the banking sector to contribute to economic recovery. In the Finance Act 2016, the Levy was extended until 2021. In order to protect the annual €150 million yield based on the financial institutions DIRT liability, the rate payable has increased from 35% in 2014 to 308% for 2021.

The Bank Levy is due to cease this year and my officials are examining the available options. As yet, I have made not made my decision as to whether the levy should continue beyond 2021 or the format, if any, it may take.