Finance Act 2024

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Number 43 of 2024

FINANCE ACT 2024

CONTENTS

PART 1

Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax

Chapter 1

Interpretation

Section

1. Interpretation (Part 1)

Chapter 2

Universal Social Charge

2. Amendment of section 531AN of Principal Act (rate of charge)

Chapter 3

Income Tax

3. Rate of charge and personal tax credits

4. Amendment of section 472BB of Principal Act (sea-going naval personnel credit)

5. Amendment of section 473B of Principal Act (rent tax credit)

6. Amendment of section 473C of Principal Act (mortgage interest tax relief)

7. Amendment of section 477C of Principal Act (Help to Buy)

8. Amendment of section 112B of Principal Act (granting of vouchers)

9. Amendment of section 118 of Principal Act (benefits in kind: general charging provision)

10. Amendment of section 121 of Principal Act (benefit of use of car)

11. Amendment of section 121A of Principal Act (benefit of use of van)

12. Employer contributions to PRSAs and PEPPs

13. Pensions (standard fund threshold)

14. Automatic enrolment retirement savings system

15. Automatic enrolment retirement savings system (amendments consequential on insertion of Chapter 2E in Part 30)

16. Amendment of Part 3 of Schedule 26A to Principal Act (approval of body as eligible charity)

17. Amendment of Chapter 1 of Part 7 of Principal Act

18. Amendment of section 235 of Principal Act (bodies established for promotion of athletic or amateur games or sports)

19. Exemption for certain sporting national governing bodies

20. Amendment of section 847A of Principal Act (donations to certain sports bodies)

21. Deduction for donations to National Governing Bodies

22. Amendment of Schedule 13 to Principal Act (accountable persons for purposes of Chapter 1 of Part 18)

23. Amendment of section 822 of Principal Act (split year residence)

24. Amendment of section 192A of Principal Act (exemption in respect of certain payments under employment law)

25. Amendment of section 204A of Principal Act (exemption in respect of annual allowance for reserve members of the Garda Síochána)

26. Amendment of section 990 of Principal Act (assessment of tax due)

27. Exemption in respect of certain expenses of members of Disabled Drivers Medical Board of Appeal

28. Amendment of section 520 of Principal Act (interpretation (Chapter 1))

29. Amendment of section 986 of Principal Act (regulations)

Chapter 4

Income Tax, Corporation Tax and Capital Gains Tax

30. Exemption in respect of CervicalCheck payments

31. Exemption in respect of Stardust ex-gratia payments

32. Amendment of section 285C of Principal Act (acceleration of wear and tear allowances for gas vehicles and refuelling equipment)

33. Amendment of Part 11C of Principal Act (emissions-based limits on capital allowances and expenses for certain road vehicles)

34. Amendment of certain references relating to de minimis aid

35. Amendment of section 97A of Principal Act (pre-letting expenditure in respect of vacant premises)

36. Amendment of section 480C of Principal Act (residential premises rental income relief)

37. Amendment of Part 16 of Principal Act (relief for investment in corporate trades)

38. Amendment of Chapter 2 of Part 23 of Principal Act (farming: relief for increase in stock values)

39. Repeal of certain provisions of Part 23 of Principal Act (farming and market gardening)

40. Amendment of Part 2 of Schedule 35 to Principal Act

41. Amendment of section 766C of Principal Act (research and development corporation tax credit)

42. Deduction for stock exchange listing expenditure

43. Amendment of certain tax exemption provisions of Principal Act

44. Taxation of leases

45. Amendment of Part 35A of Principal Act (transfer pricing)

46. Amendment of section 817U of Principal Act (outbound payments defensive measures)

Chapter 5

Corporation Tax

47. Amendment of section 835AY of Principal Act (interest limitation)

48. Amendment of section 481 of Principal Act (relief for investment in films)

49. Tax credit for expenditure on unscripted production

50. Participation exemption for certain foreign distributions

51. Amendment of section 486C of Principal Act (relief from tax for certain start-up companies)

52. Amendment of section 835YA of Principal Act (non-cooperative jurisdictions: modified application of sections 835T, 835U and 835V)

Chapter 6

Capital Gains Tax

53. Repeal of section 46 of Finance (No. 2) Act 2023

54. Relief for investment in innovative enterprises

55. Amendment of section 599 of Principal Act (disposals within family of business or farm)

56. Amendment of section 613 of Principal Act (miscellaneous exemptions for certain kinds of property)

PART 2

Excise

Chapter 1

E-Liquid Products Tax

57. Definitions

58. Charging and rates of e-liquid products tax

59. Liability to pay e-liquid products tax

60. Registration of e-liquid product suppliers

61. Returns and payment by e-liquid product suppliers

62. Records

63. Returned e-liquid product

64. Repayments of e-liquid products tax

65. Offence and penalty

66. Regulations

67. Care and management

68. Commencement

Chapter 2

Miscellaneous

69. Amendment of Chapter 1 of Part 2 of Finance Act 2003 (alcohol products tax)

70. Amendment of Schedule 2 to Finance Act 2005 (rates of tobacco products tax)

71. Amendment of section 64 of Finance Act 2002 (interpretation)

72. Amendment of section 67 of Finance Act 2002 (betting duty)

73. Amendment of section 67A of Finance Act 2002 (application of betting duty to remote bookmakers)

74. Amendment of section 68A of Finance Act 2002

75. Amendment of Chapter 1 of Part 2 of Finance Act 2002 (licence duty)

76. Amendment of section 132 of Finance Act 1992 (charge of excise duty)

PART 3

Value-Added Tax

77. Interpretation (Part 3)

78. Amendment of section 2 of Principal Act

79. Amendment of section 46 of Principal Act (rates of tax)

80. Amendment of section 59 of Principal Act (deduction for tax borne or paid)

81. Amendment of section 60 of Principal Act (general limits on deductibility)

82. Amendment of section 76 of Principal Act (returns and remittances)

83. Amendment of section 86 of Principal Act (special provisions for tax invoiced by flat-rate farmers)

84. Amendment of section 115 of Principal Act (penalties generally)

85. Amendment of paragraph 6(2) of Schedule 1 to Principal Act (other exempted activities)

86. Amendment of paragraphs 4 and 6 of Schedule 2 to Principal Act (zero-rated goods and services)

87. Amendment of Schedule 2 to Principal Act (zero-rated goods and services)

88. Amendment of Schedule 3 to Principal Act (goods and services chargeable at the reduced rate)

PART 4

Stamp Duties

89. Interpretation (Part 4)

90. Amendment to stamp duty rates in respect of residential property

91. Amendment of section 31E of Principal Act (stamp duty on certain acquisitions of residential property)

92. Farming reliefs

93. Stamp duties modernisation

94. Provisions in relation to repayment of stamp duty

95. Banking levies modernisation

96. Amendment of section 126AB of Principal Act (further levy on certain financial institutions)

PART 5

Capital Acquisitions Tax

97. Interpretation (Part 5)

98. Amendment of section 46 of Principal Act (delivery of returns)

99. Amendment of Schedule 2 to Principal Act (computation of tax)

100. Further provisions relating to agricultural property

101. Amendments consequential on insertion of section 89A in Principal Act

PART 6

Miscellaneous

102. Interpretation (Part 6)

103. Amendment of section 891J of Principal Act (return of certain information by Reporting Platform Operators)

104. Amendment of section 891L of Principal Act (Implementation of Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation in relation to joint audits)

105. Amendment of section 991B of Principal Act (Covid-19: special warehousing and interest provisions)

106. Amendment of section 1080B of Principal Act (Covid-19: special warehousing and interest provisions (income tax))

107. Amendment of section 28C of Emergency Measures in the Public Interest (Covid-19) Act 2020 (Covid-19: special warehousing and interest (relevant tax due under section 28(9)))

108. Amendment of section 28D of Emergency Measures in the Public Interest (Covid-19) Act 2020 (Covid-19: special warehousing and interest (relevant tax due under section 28B(11)))

109. Amendment of section 114B of Value-Added Tax Consolidation Act 2010 (Covid-19: special warehousing and interest provisions)

110. Amendment of section 17C of Social Welfare Consolidation Act 2005 (Covid-19: special warehousing and interest provisions for contributions)

111. Repayment of tax in case of ceased company: double taxation relief

112. Amendment of Schedule 24A to Principal Act (arrangements made by the Government with the government of any territory outside the State in relation to affording relief from double taxation and exchanging information in relation to tax)

113. Amount of vacant homes tax

114. Residential zoned land tax

115. Amendment of Part 4A of Principal Act (Implementation of Council Directive (EU) 2022/2523 of 15 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union)

116. Miscellaneous technical amendments in relation to tax

117. Care and management of taxes and duties

118. Short title, construction and commencement

SCHEDULE 1

E-Liquid Products Tax

SCHEDULE 2

Miscellaneous Technical Amendments in Relation to Tax

Acts Referred to

Automatic Enrolment Retirement Savings System Act 2024 (No. 20)

Betting (Amendment) Act 2015 (No. 7)

Betting Act 1931 (No. 27)

Capital Acquisitions Tax Consolidation Act 2003 (No. 1)

CervicalCheck Tribunal Act 2019 (No. 31)

Civil Service Regulation Act 1956 (No. 46)

Climate Action and Low Carbon Development (Amendment) Act 2021 (No. 32)

Companies Act 2014 (No. 38)

Disability Act 2005 (No. 14)

Emergency Measures in the Public Interest (Covid-19) Act 2020 (No. 2)

Finance (No.2) Act 2023 (No. 39)

Finance Act 1989 (No. 10)

Finance Act 1992 (No. 9)

Finance Act 2002 (No. 5)

Finance Act 2003 (No. 3)

Finance Act 2005 (No. 5)

Finance Act 2022 (No. 44)

Historic and Archaeological Heritage and Miscellaneous Provisions Act 2023 (No. 26)

Irish Horseracing Industry Act 1994 (No. 18)

Medical Practioners Act 2007 (No. 25)

Mother and Baby Institutions Payment Scheme Act 2023 (No. 20)

National Asset Management Agency Act 2009 (No. 34)

Petroleum and Other Minerals Development Act 1960 (No. 7)

Planning and Development (Housing) and Residential Tenancies Act 2016 (No. 17)

Social Welfare Consolidation Act 2005 (No. 26)

Stamp Duties Consolidation Act 1999 (No. 31)

Statistics Act 1993 (No. 21)

Taxes Consolidation Act 1997 (No. 39)

Value-Added Tax Consolidation Act 2010 (No. 31)

Number 43 of 2024

FINANCE ACT 2024

An Act to provide for the imposition, repeal, remission, alteration and regulation of taxation, of stamp duties and of duties relating to excise and otherwise to make further provision in connection with finance; to make provision for supports to employers and certain businesses and for that purpose to amend the Taxes Consolidation Act 1997 , the Social Welfare Consolidation Act 2005 , the Value-Added Tax Consolidation Act 2010 and Part 7 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 ; and to provide for related matters.

[12th November, 2024]

Be it enacted by the Oireachtas as follows: