Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Let us consider a hypothetical case. I understand it is not that uncommon in some of these companies for an individual's partner and child to be included in the insurance policy. If a policy costing €3,000 is provided by the company, that €3,000 is seen as benefit-in-kind and therefore taxable at a rate of approximately 48% when USC etc. is included. Is that correct? This individual will have an additional tax burden of €1,400 or €1,500. How will that be paid? Will it be paid weekly or at the end of the year? Many of these people will be PAYE employees and completely unaware that this additional tax bill will be coming down the line just before Christmas.