Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I refer to the distinction between a resident and non-resident non-executive director. Why is such a distinction drawn in the tax treatment of such directors? They have the same responsibilities under the Companies Acts and the same fiduciary duties. They play an equal role in terms of board oversight and so forth. A lot of indigenous and start-up companies here rely on Irish non-executive directors to provide expertise to them.

As I understand it, this section relates to vouched expenses. The question of why vouched expenses would be taxed in the first place is one I also have to put. I ask the Minister to focus primarily on the distinction between the tax treatment of resident and non-resident executive directors in the Bill.