Finance Act, 1999

In short

This law, the Finance Act, 1999, primarily deals with various aspects of taxation in Ireland, including income tax, corporation tax, capital gains tax, and customs and excise duties. It introduces new provisions, amends existing ones, and sets out rates and reliefs for different types of taxes.

What it regulates

• Income Tax, Corporation Tax, and Capital Gains Tax.
• Dividend Withholding Tax.
• Savings-Related Share Option Schemes and Employee Share Schemes.
• Customs and Excise, specifically Mineral Oil Tax.

Who it concerns

• Individuals subject to income tax, including employees, self-employed persons, and those receiving certain benefits or annuities.
• Companies subject to corporation tax, including those involved in specific trades, investments, or with particular asset structures.
• Persons involved in the production, sale, or use of mineral oil.

Key points

• It alters rates of income tax and provides for various personal reliefs.
• It introduces a dividend withholding tax and provisions for distributions to certain non-residents.
• It sets out rules for savings-related share option schemes and employee share schemes.
• It details the charge, rates, and reliefs for mineral oil tax, including specific provisions for horticultural production and passenger road services.