The Re-imbursement of Travel & Subsistence Expenses of an Irish Resident Non-Executive Director?

The Finance Act 2016 provides for an exemption from Income Tax in respect of certain expense payments made by a company to, or on behalf of, an Irish Resident Non-Executive Director of that company.

This exemption applies to Travel and Subsistence Expenses incurred on or after the 1st January 2017 by an Irish Resident Non-Executive Director solely for the purposes of attending a relevant meeting of the company.

A relevant meeting of the company is any meeting held in the state and attended by the Non-Executive Director for the purposes of the conduct of the company's affairs. Travel expenses include travel by car, taxi, bus, train or by air for the purposes of attendance at the meeting. Any payments for mileage or subsistence must not exceed the Civil Service approved rates. The annualised payments made to the Irish Resident Non-Executive Director must not exceed €5,000.

Any questions on the above, feel free to contact me.

Timothy Kelliher

Chartered Accountant

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