Finance Act 2004

In short

This law, the Finance Act 2004, primarily deals with various aspects of taxation in Ireland, including income tax, corporation tax, capital gains tax, excise duties, value-added tax, stamp duties, and capital acquisitions tax. It introduces new provisions and amends existing tax laws.

What it regulates

• Income Tax, Corporation Tax, and Capital Gains Tax.
• Excise duties on products like alcohol, tobacco, and mineral oil.
• Value-Added Tax (VAT) provisions.
• Stamp duties and Capital Acquisitions Tax.

Who it concerns

• Individuals subject to income tax, corporation tax, and capital gains tax.
• Businesses and industries involved in alcohol, tobacco, and mineral oil products.
• Persons involved in transactions subject to VAT, stamp duties, and capital acquisitions tax.

Key points

• It includes provisions for age exemption and employee tax credits.
• It addresses reliefs for trade union subscriptions and insurance against illness expenses.
• It details amendments related to occupational pension schemes and investment in corporate trades.
• It outlines rates of excise duty on tobacco products and mineral oil.