Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

Benefit-in-kind is a non-cash benefit given to an employee by an employer. It has a monetary value and is deemed to be a taxable income. There are approximately 150,000 company cars in the country and if those drivers have a benefit-in-kind, the vast majority pay the amount due themselves. In the case of the CEO of Bord na Móna, because the original market value of his car is €130,000, the benefit-in-kind is €22,000. The benefit-in-kind for his health insurance is €9,000. I have no issue with company cars or health insurance but I have an issue with a semi-state company paying the tax on those benefits. For 2022, the cost to Bord na Móna was €64,000 and over a four-year period, the cost was almost €250,000. While the ordinary Joe Soap is paying benefit-of-kind of €60 to €100 per week, it is unacceptable for the company in question to continue to pay the additional amount. I ask for this practice to be reviewed by the Government. While it is legal and proper in that respect, it is unacceptable and should change.

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