ESB employees avoid universal social charge on shares after Government deal

It has reported today that ESB employees do not have to pay the universal social charge on their company shares under an agreement with the Government.

The Sunday Business Post claims that the deal reached in 2011 cost the State €10m in lost taxes, in the space of one year.

Workers in ESB had faced the prospect of paying a 7% USC charge when they sell their shares.

However it has emerged that representatives of over 10,000 ESB staff lobbied the government for exemption from the tax.