Jennifer Murnane O'Connor (Carlow-Kilkenny, Fianna Fail)
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100. To ask the Minister for Finance the number of persons who availed of the stay-and-spend scheme; the value of receipts uploaded to the scheme; the cost to the State of the scheme; and if he will make a statement on the matter. [11305/23]

Michael McGrath (Cork South Central, Fianna Fail)
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The purpose of the Stay and Spend Tax Credit scheme was to provide targeted support to businesses within the hospitality sector whose operations were likely to be most affected by public health restrictions that were in place as a result of the Covid-19 pandemic. The scheme terminated on 30 April 2021.

I am advised by Revenue that In respect of the period from the 1 October 2020 to 31 December 2020, 21,175 taxpayers availed of the scheme with a total value of receipts uploaded in the amount of €5,963,384. In respect of the period from the 1 January 2021 to the 30 April 2021, 3,453 taxpayers availed of the scheme with a total value of receipts in the amount of €650,198. The related tax cost associated with both periods is in the order of €1.3 million.

These figures may increase over time as not all Income Tax Returns have been filed for the relevant years and PAYE taxpayers have up to four years to claim credits they may be entitled to. Subsequent to claims being made in respect of this scheme and any other relief or deduction, verification of such reliefs and deductions forms part of Revenue’s comprehensive risk assessment programme.

It is not possible currently to determine the final cost to the exchequer of this scheme as it was operated as a tax credit available against an individual’s final Income Tax or USC liability which is affected by numerous factors, including other credits and or reliefs to which a person may be entitled.