Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

As expenses which are currently taxable cannot be separately identified from the salary of a non-executive director, it is not possible to provide an estimate of the cost to the Exchequer. It affects a small number of people.

For the further information of the Deputy, section 886 of the Taxes Consolidation Act requires records to be maintained relating to all sums of money expended in the course of carrying on a business and to retain these records for a period of six years. This means that employers are required to maintain records and receipts relating to any payments made by them to their employees. Therefore, it is not necessary to make specific provision for the keeping of records in section 195B. That is the reason I am not accepting the amendment.