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Amendment of section 112B of Principal Act (granting of vouchers)
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8. (1) Section 112B of the Principal Act is amended—
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(a) in subsection (1), by the substitution of the following definition for the definition of “qualifying incentive”:
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“ ‘qualifying incentive’ means a relevant incentive that is the first, second, third, fourth or fifth relevant incentive given to an employee in a year of assessment where—
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(a) in the case of a first relevant incentive, the value does not exceed €1,500,
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(b) in the case of a second relevant incentive, the cumulative value of the first and second relevant incentives does not exceed €1,500,
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(c) in the case of a third relevant incentive, the cumulative value of the first, second and third relevant incentives does not exceed €1,500,
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(d) in the case of a fourth relevant incentive, the cumulative value of the first, second, third and fourth relevant incentives does not exceed €1,500, and
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(e) in the case of a fifth relevant incentive, the cumulative value of the first, second, third, fourth and fifth relevant incentives does not exceed €1,500;”,
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and
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(b) by the insertion of the following subsection after subsection (2):
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“(3) This section shall cease to have effect for the year of assessment 2030 and subsequent years of assessment.”.
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(2) Subject to subsection (3) (inserted by subsection (1)(b)) of section 112B of the Principal Act, subsection (1)(a) applies for the year of assessment 2025 and each subsequent year of assessment.
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