Timmy Dooley (Clare, Fianna Fail)
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170. To ask the Minister for Finance if his Department has considered methods to include part-time workers under the tax saver scheme currently in place for full-time workers; and if he will make a statement on the matter. [45768/14]

Michael Noonan (Limerick City, Fine Gael)
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My response to the Deputy last week (PQ 45319/14 of 25^thNovember, Question No. 190) outlined how this scheme works. There is no provision in the legislation intended to prevent a part-time worker participating. That said, it is open to employers to decide whether or not they wish to operate the scheme. While I would like to see it offered to any employee who wishes to avail of it by means of an approved transport provider, ultimately it is not compulsory for employers to make it available.

Timmy Dooley (Clare, Fianna Fail)
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171. To ask the Minister for Finance further to Parliamentary Question No. 137 of 15 January 2014, if he will provide an update on the Revenue Commissioners' current view regarding the taxation status of crypto-currencies, including Bitcoin; and if he will make a statement on the matter. [45769/14]

Michael Noonan (Limerick City, Fine Gael)
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As noted in my reply to the Question cited by the Deputy, if Bitcoin (or another digital or crypto-currency) is received as payment in commerce, then the same rules in place for payments received in other foreign currencies also apply. If speculation on Bitcoin occurs, then the taxation rules that would apply to any gain are applicable.

More specifically, VAT is generally chargeable on the total consideration for goods and services, including all taxes, commissions, costs, and charges (excluding the VAT chargeable in respect of that supply). This general rule is based on the EU VAT Directive. Where the consideration does not consist of, or does not consist wholly of, an amount of money, VAT is chargeable by reference to what might reasonably be expected to be the open-market (arm's length) price of the goods or services supplied. The VAT Regulations require that the amount of tax included on an invoice be expressed in Euro. The exchange rate to be used for non-Euro currency transactions is either the latest selling rate for the foreign currency recorded by the European Central Bank or an alternative method of determining the exchange rate that is agreed with Revenue.

I am advised that Revenue has continued to monitor developments in Bitcoin (and other such currencies) during 2014. This includes using international fora to follow progress in other countries, in particular other Member States of the EU. However, as Bitcoin features a combination of some factors that constitute a commodity and some that constitute a currency, the implications for taxation are varied and there is as yet no consensus on the "best practice" approach for a tax administration. Bitcoin also requires a coordinated response between Revenue, my Department and the Central Bank of Ireland.

While Bitcoin has the potential to be misused and lead to instances of non-compliance and tax evasion, I am advised that, at this point in time, the threat posed to the Exchequer is likely to be small. It is probable too that for some evaders, it represents a new opportunity for existing non-compliance, rather than a new form of evasion.

I am confident that the Revenue Commissioners are proactively following developments in digital currencies and will act to advance their position publicly should events require this.