Revenue Tax Briefing Issue 66, July 2007
The 2007 Finance Act was enacted on 2 April 2007. The following pages highlight some of the changes introduced in the Act.
Section 12 exempts from tax, travel and subsistence expenses paid to certain members of non-commercial bodies, in both the public and private sectors, in respect of the attendance at meetings of such bodies. The work of these members must generally be carried out at periodic meetings of the bodies. To qualify for the exemption the member must be a non-executive member of the body and not be in receipt of emoluments (excluding the expenses) from the body in excess of 24,000 per annum in the case of the Chairperson and 14,000 in the case of other members. The exemption covers expenses up to the civil service rates. Where the expenses paid exceed those rates the excess will continue to be taxable.