S.L. 123.55 Art. 37Value of share option scheme benefit.

(1) The value of a benefit referred to in rule 36 shall be the excess, if any, of the price which the shares in question would fetch if sold in the open market on the date when the benefit is provided over the price paid or payable by the beneficiary for those shares.

(2) The income represented by the value of the benefit shall constitute chargeable income separate and distinct from any other chargeable income of the beneficiary for the relative year of assessment and shall be subject to tax at the rate of fifteen cents for every euro.