I am advised by Revenue that the table below provides details on tax reliefs allowed at rates higher than the standard rate and sets out estimates associated with standard-rating the relief allowed.
The table also includes a categorisation of the current cost of each relief into ‘>€5m’ and ‘>€10m’ as requested by the Deputy.
All figures relate to 2023 unless otherwise stated.
|
Expenditures
|
Estimated Tax yield from standard-rating €m
|
Categorisation of current Tax cost
|
|
Allowance for Seafarers
|
0.1
|
<€5m
|
|
Dispositions such as Maintenance Payments
*
|
6
|
>€10m
|
|
Donations to Approved Sporting Bodies
|
0.3
|
<€5m
|
|
Employing a Carer
|
3.7
|
>€5m and <€10m
|
|
Health Expenses (Nursing Homes)
|
10
|
>€10m
|
|
Employee Pension Contribution
|
776
|
>€10m
|
|
Rental Deduction for Leasing of Farm Land
|
12
|
>€10m
|
|
Relief for expenditure on significant buildings and gardens
|
0.9
|
<€5m
|
|
Stock Relief (General) (S666 Taxes Consolidation Act 1997)
|
2.4
|
>€5m and <€10m
|
|
Stock Relief (for Young Trained Farmers) (S667B Taxes Consolidation Act 1997)
|
0.1
|
<€5m
|
|
Stock Relief (for Registered Farm Partnerships) (S667C Taxes Consolidation Act 1997)
|
0.05
|
<€5m
|
|
Permanent Health Benefit Premiums
|
2.2
|
<€5m
|
|
Foreign Earnings Deduction
|
2.2
|
<€5m
|
|
Donations to Charities and Approved Bodies
|
15
|
>€10m
|
|
Total
|
831
|
|
*data relates to 2019, the latest year for which data is available for analysis.
