Brendan Griffin (Kerry, Fine Gael)
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166. To ask the Minister for Finance if the budget 2016 measure of doubling the tax free gift certificate for employees from €250 to €500 is applicable to previously existing gift cert schemes within organisations or if it is only applicable to new schemes; if the latter is the case, if this is an unintended consequence; if the matter will be addressed in the forthcoming budget to allow existing schemes to benefit from the change; and if he will make a statement on the matter. [26693/16]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by Revenue that section 112B of the Taxes Consolidation Act 1997 provides that employers may provide tax free benefits to employees once a year provided the benefit does not exceed €500 in value and is not in the form of cash.  This new exemption replaces the previous concession operated by Revenue known as the small benefits exemption which applied to benefits up to €250 in value.

The exemption applies to all vouchers or benefits granted on or after 22 October 2015, subject to the €500 limit and regardless of whether there already was a scheme in existence within the relevant company.  Any benefit granted up to and including 21October 2015 will be subject to the €250 limit and no employee may receive more than one benefit in a tax year.