A programme which gives income tax relief to senior executives of foreign companies with operations in Ireland has been criticised as 'not fair'.
During the Committee stage of the Finance Bill before the Select Committee on Finance, Public Expenditure and Reform, Sinn Féin Spokesperson on Finance Pearse Doherty said the SARP programme was "costing us a fortune".
SARP is the Special Assignee Relief Programme (SARP) and gives relief of 30% on income over €75,000 and under €1m to executives from foreign owned companies who are re-located to Ireland for a number of years.
It was proposed that SARP be extended for another two years in Budget 2020. It cost the Exchequer €28.1m in tax foregone in 2017 and benefitted 1,084 employees.
The Minister for Finance, Paschal Doherty, defended the policy as necessary in continuing to attract foreign direct investment.
He told the Committee that other countries had similar programmes.
An amendment opposing the extension of SARP was defeated.
