Vol. 510 No. 4
53 Mr. Bell asked the Minister for Finance the plans, if any, he has to repeal section 19 of the Finance Act, 1994, having regard to the fact that only one taxpayer has availed of the concessions offered by the section; and if he will make a statement on the matter. [22703/99]
Section 236 of the Taxes Consolidation Act, 1997 – formerly section 19 of the Finance Act, 1994 – provides a relief which exempts specified benefits provided to an individual by his employer from the benefit-in-kind income tax charge under section 118 of the Taxes Consolidation Act, 1997 – formerly section 117 of the Income Tax Act, 1967 – and a similar income tax charge under section 436 of the Taxes Consolidation Act, 1997 – formerly section 96 of the Corporation Tax Act, 1976. The exempted benefit relates to the loan to an individual of certain art objects owned by his or her employer and which are available for viewing by the public.
I have no plans to repeal this section.
