Financial Resolution No. 28 gives statutory effect to the budget announcement that tax relief for certain share option schemes will cease from 24 November 2010, the date of publication of the national recovery plan. Employees who are given options to purchase shares in their employer company at a predetermined price can make a gain when they purchase shares that have increased in value since the option was vented. Such gains are exempt from income tax where the employer company meets certain conditions and receives formal approval for the scheme from the Revenue Commissioners.

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