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Employment Investment Incentive Scheme

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Questions\Written Answers\Employment Investment Incentive Scheme

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Employment Investment Incentive Scheme

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Minister for Finance (Deputy Paschal Donohoe)

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Minister for Finance (Deputy Paschal Donohoe)

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Snippet Contents:

I am informed by the Revenue that based on 2016 data, the estimated cost to the Exchequer from increasing the current allowable tax relief cap of €150,000 available to an individual investor under the EII scheme in the manner described by the Deputy is as set out in the following table.
Threshold€M
€200,0000.9
€300,0002.2
€400,0002.9
€500,0003.4
€600,0003.8
€700,0004.2
€800,0004.5
€900,0004.8
€1,000,0005.0
€1,100,0005.2
€1,200,0005.3
€1,300,0005.4

This costing assumes a maximum of relief of 30% and does not include the additional 10% relief that is currently available under this scheme after a period of 4 years from the initial investment. It is based on actual 2016 investments and assumes that there are no behavioural changes as a result of the increased caps on the relief.
The Deputy may wish to note that, following on from the recent Indecon Report and the priority reform action that I am taking in Finance Bill 2018, my Department will carry out further work in 2019 in conjunction with other relevant Departments to examine what further changes might be warranted to ensure that the scheme fulfils its objectives in an efficient and effective manner. Among other things, this work will include consideration of the appropriate rate of relief that should apply under the scheme.