58. Deputy Áine Collins asked the Minister for Finance the costs arising from a reduction in capital gains tax to 10% on the first €10 million of gains arising on chargeable business assets acquired from 1 January 2017 and held for five years, in each of the years 2017 to 2021; and if he will make a statement on the matter. [2630/16]

59. Deputy Áine Collins asked the Minister for Finance the costs arising from a reduction in capital gains tax from the application of a lower rate of 20% from 1 January 2017 to gains arising on investment in companies availing of the employment and investment incentive; and if he will make a statement on the matter. [2631/16]

I propose to take Questions Nos. 58 and 59 together.

I am informed by the Revenue Commissioners that there is no basis from returns filed or other information available to Revenue to estimate the level of chargeable business assets that may be acquired from 1 January 2017 and held for five years. Therefore, no estimate is available of the cost of introducing a rate of 10% on the first €10 million of gains on chargeable business assets acquired from 1 January 2017 and held for five years.

I am further informed by the Revenue Commissioners that as information in respect of potential gains from investments in the Employment and Investment Incentive scheme is not available, it is not possible to indicate the potential cost of lowering the CGT rate to 20%.