Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

74. To ask the Minister for Finance if he will provide, in tabular form, the number of Employee Share Ownership Trust Schemes approved by the Revenue Commissioners at the end of each year from 2010 to 2014; the number of beneficiaries of such Schemes; and if he will make a statement on the matter. [24304/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

An Employee Share Ownership Trust (ESOT) is a trust established by a company for the purpose of placing shares into the hands of employees. It operates in tandem with a Revenue Approved Profit Sharing Scheme (APSS). Shares are transferred to employees from the ESOT through the APSS.  Under Revenue approved ESOTs and APSSs any shares appropriated are exempt from income tax in the hands of the beneficiaries at the time they are appropriated.

I am advised by the Revenue Commissioners that there were no Employee Share Ownership Trusts approved by Revenue in the years 2010 to 2014 inclusive. 2008 was the last year in which an Employee Share Ownership Trust was approved.