Finance Act, 1998

I mbeagán focal

This law, the Finance Act, 1998, primarily deals with changes to various taxes in Ireland, including income tax, corporation tax, capital gains tax, customs, and excise duties, as well as Value-Added Tax. It introduces new reliefs, amends existing tax provisions, and updates regulations across different financial sectors.

Cad a rialaíonn sé

• Income Tax, Corporation Tax, and Capital Gains Tax.
• Customs and Excise duties, including Vehicle Registration Tax and duties on hydrocarbons and tobacco products.
• Value-Added Tax.
• Reliefs and allowances for specific activities like investment in films, renewable energy, and certain urban and rural developments.

Cé dó a mbaineann sé

• Individuals subject to income tax, capital gains tax, or those receiving certain benefits or making specific investments.
• Companies liable for corporation tax, including life assurance companies and credit unions.
• Businesses and individuals involved in activities subject to customs and excise duties, such as vehicle registration, betting, and the sale of hydrocarbon oil and tobacco products.

Príomhphointí

• It alters rates of income tax and introduces personal reliefs.
• It provides capital allowances for airport buildings, private nursing homes, and certain sea fishing boats.
• It includes provisions for relief for the long-term unemployed and for gifts made to designated schools.
• It amends various sections of the Principal Act concerning tax credits, foreign pensions, and the taxation of collective investment undertakings.