Finance Act, 2000

In short

This law, the Finance Act, 2000, primarily deals with various aspects of taxation, including income tax, corporation tax, and capital gains tax, as well as customs and excise duties. It introduces amendments to existing tax provisions and outlines new regulations concerning financial matters.

What it regulates

• Income Tax, Corporation Tax and Capital Gains Tax
• Dividend Withholding Tax
• Customs and Excise duties
• Reliefs for renewal and improvement of certain towns

Who it concerns

• Individuals subject to income tax, corporation tax, and capital gains tax.
• Companies and businesses, particularly those involved in specific trading operations, manufacturing, or certain investments.

Key points

• It alters rates of income tax and amends various personal allowances, such as those for age, widowed persons, incapacitated children, and dependent relatives.
• It introduces a dividend withholding tax and amends provisions related to distributions to certain non-residents.
• It provides for capital allowances for vehicles, computer software, and buildings used for certain childcare purposes.
• It makes changes to customs and excise duties, specifically regarding tobacco products, hydrocarbons, and mineral oil tax.