asked the Minister for Finance if the Revenue Commissioners are now applying the provisions of the 1967 Act which enables them to assess as income a company car supplied to an individual; and if tax is now being charged on this notional income from 1967 retrospectively.
Ceisteanna—Questions. Oral Answers. - Company Car Tax.
46.
Section 117 of the Income Tax Act, 1967, provides that benefits in kind, including an employee's private use of a company car, are chargeable to tax under Schedule E.
Where an employee enjoying the use of a company car has not disclosed this fact in his statutory return of income assessments are being raised to recover the tax chargeable for earlier years. I understand, however, that assessments are not being made for years earlier than 1971-72.
The remaining questions will appear on tomorrow's Order Paper.