Alice-Mary Higgins (Independent) | Oireachtas source

To clarify two points on which questions were put, Senator Horkan referred to the amount of tax advantage granted under the section. The reason I phrased the recommendation that way was because that is wording from the Bill. Paragraph 8 on page 19 specifically states that a qualifying company shall, when required to do so, by notice in writing by the Revenue Commissioners, furnish information, including the name, the address of the company and the amount of tax advantage granted under this section. I am focusing on that because that is information we know Revenue is appropriately entitled to collect. I would welcome that.

I do not believe there is a problem with people accruing stocks and shares. Co-operative measures are positive. There were schemes in place previously, including the APPS and the save as you earn, SAYE, scheme. However, this is quite a sea change. The problem with this measure is that we could see quite a large shift. A ceiling is set in terms of companies with a threshold of €3 million, but those are still large companies. I am concerned about tracking this, and it is not necessarily to say that people should not be part of a company. That is important, but it is around transparency.