Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I have another question. In AIB's annual accounts there is reference to a share bonus scheme which is going to be introduced for senior personnel within the bank. I was scratching my head trying to figure out how this would work. There was not a huge amount of detail on it. How can that work given that there is a 45% USC charge on any bonuses paid to personnel in banks which have been bailed out by the State? That provision exists in Irish tax law and it means that any bonus paid to either the CEO or any senior official would be subject to an effective tax rate of approximately 89%. Is the intention in respect of the share bonus scheme that personnel would pocket the 10% or 11% or is the bank hoping that we as legislators will remove that provision from the Irish tax code?