Dáil Éireann Debate, Friday - 7 September 2018
98. Deputy Michael McGrath asked the Minister for Finance if the Revenue Commissioners invoke section 122(3) of the Taxes Consolidation Act 1997 in circumstances (details supplied); and if he will make a statement on the matter. [35581/18]
View answerI would like to draw the Deputy’s attention to my reply to Parliamentary Question No. 188 of 29 May 2018 and to Parliamentary Question No. 171 of 10 July 2018 which are relevant to this matter.
I am advised by Revenue, and as I have stated in the replies to which I have referred, where an employer can show to the satisfaction of Revenue that the employee (current or former) has no loans on preferential terms and that the outcome of the write off would be the same for the employee or former employee as it would be for a non-employee customer of the bank, then any write off will not attract a tax liability in accordance with section 122(3) of the Taxes Consolidation Act 1997.
