I move:—
That liability to income tax (including sur-tax) shall be imposed where benefits (including benefits which are to be enjoyed only on the happening of particular contingencies) are or are to be procured or provided by bodies for or in respect of persons who, as directors or otherwise, are taking part or are to take part or have taken part in the management of their affairs, or by such bodies for or in respect of persons who are or are to be or have been their employees.
This is another case where an employer or a company provides for money to be paid to a person either by way of an annuity or a lump sum at some future time. If there is any condition attached, it is impossible for the Revenue Commissioners to take it into account in a person's income. For instance, the condition might be that as long as the person remains in employment he will get it at some future date. That would make it impossible for the Revenue Commissioners to assess. It is, of course, in the employer's statement of expenses, expenditure and so on but if that money is paid out, when the person retires, by way of lump sum, there is no tax liability. If it was paid out by way of annuity, it would be subject to tax, and this provision is intended also to make the law right on that particular item.
