Pearse Doherty (Donegal, Sinn Fein)
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213. To ask the Minister for Finance the estimated value deferred tax assets yet to be utilised by banks (details supplied) respectively. [9573/23]

Michael McGrath (Cork South Central, Fianna Fail)
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Section 851A of the Taxes Consolidation Act 1997 precludes the Revenue Commissioners from directly or indirectly disclosing taxpayer information to third parties unless this is specifically provided for in legislation. Therefore, neither Revenue nor I can comment on the tax affairs of any individual or company, so I can only refer to publicly available information.

The latest data available for the estimated value of the relevant banks’ deferred tax assets is from their 2021 annual reports. According to their year ended 31 December 2021 financial statements, the deferred tax assets (DTAs) being held in relation to trading losses forward are as follows:

In 2018, Department of Finance officials produced a detailed technical note for the Committee on Finance, Public Expenditure and Reform, and Taoiseach on the subject of both bank losses and corporation tax losses more generally (see www.gov.ie/en/publication/436ff7-technical-note-on-the-potential-consequences-of-changes-to-the-treat/). The technical note considered in some detail the potential implications of restricting the use of losses carried forward, or the introduction of a specific time limit or “sunset clause” on loss relief, for Irish banks, for the wider banking sector, or for the corporate sector as a whole.