Dáil Éireann Debate, Tuesday - 24 June 2025
306. Deputy Séamus McGrath asked the Minister for Finance the average time taken to process claims and issue refunds to applicants under the employment and incentive investment scheme; and when refunds were made on average relating to applications in 2023 and 2024. [34057/25]
Amharc ar fhreagraThe Employment Investment Incentive (EII), is provided for under Part 16 of the Taxes Consolidation Act 1997. The relief helps to provide SMEs and start-ups with alternative funding sources.
I am advised by Revenue that taxpayers may be entitled to tax relief under the EII for qualifying investments, subject to meeting the various requirements and conditions as set out on the Revenue website at www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-16/16-00-02.pdf.
I am advised by Revenue that there is no dedicated EII return or application that needs to be made in order to claim this tax relief. Taxpayers claim eligible relief on their Form 11 or Form 12 tax return, alongside claiming other deductions, reliefs or tax credits that they may be entitled to. These tax returns are processed in the normal way and the taxpayer is notified in due course of any overpayment or underpayment of tax that arises.
I am advised by Revenue that the average time to process Form 12 tax returns for 2024 and issue a statement of liability to the taxpayer is approximately 3 days. I am further advised that the average processing time for the self-assessed Form 11 is one working day.
