Dáil Éireann Debate, Thursday - 9 December 2021
201. Deputy John Paul Phelan asked the Minister for Finance the number of employees that have taken part in the key employee engagement scheme in 2019; the cost of same; and if he will make a statement on the matter. [60907/21]
View answerI am advised by Revenue that the first year the Key Employee Engagement Scheme (KEEP) became available was 2018. Generally, a qualifying employee must hold any share options granted under the scheme for at least 12 months prior to exercise. Therefore, 2019 was the earliest year that individuals could exercise their options to acquire shares in qualifying companies.
The number of employees exercising KEEP share options in 2019 was less than 10 (the exact number of claims is not provided due to Revenue’s obligation to protect taxpayer confidentiality). The approximate cost of the scheme was approximately €0.1m.
Updates for 2020 and later years, once available, will be included in Revenue’s Costs of Tax Expenditures publication (credits, allowances and reliefs), which is available on the Revenue website.
