Dáil debates
Wednesday, 5 December 2007
Financial Resolution No. 4: Income Tax
9:00 pm
Eamon Gilmore (Dún Laoghaire, Labour)
Will the Minister set out the current position? I understand from her that the difference between the preferential rate of interest and the market rate is deemed to be a benefit-in-kind and is therefore taxable. What tax liability applies to somebody who gets a loan from a particular source at a rate of interest other than the market rate?
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