The Fi­nance Bill At a glance

The Irish Times - Friday - The Ticket - - BUSINESS NEWS -

Taxmea­sure­san­nouncedin bud­get,in­clud­ingchangesto theto­pra­te­ofin­cometaxand ex­cise­du­ty­hike on­ci­garettes, getle­gal ef­fectwhenBill en­acted.

Taxres­i­den­cyrules for in­com­ing­com­pa­nieswere changed­to­close­off“Dou­ble Ir­ish” loop­hole.

Pro­vi­sio­nen­suresthat small­share­hold­ers in­Voda­fonewil­l­not­facean­in­cometax bil­lasare­sulto­fare­cent “re­turnof­value”.

Thereis­re­li­ef­fromDir­ton sav­ing­sused­by­first-time house­buy­ers.

VATchargeswere­abol­ishe­do­ngreen­feesin­mem- ber-owned­gold­clubs.

Mea­sureswere­pro­posedto close­off­tax­avoid­ance schemes­linked­totheuseof Ap­provedRe­tire­men­tFunds and“vested”Per­son­alRe­tire­men­tSav­ingsAc­counts.

Spe­cial­taxre­lief­scheme­for for­eignex­ec­u­tives­takingup rolesh­erew­ere­ex­pandedand ex­tended.

Taxre­lie­fonthe pur­chaseof newhy­brid­elec­tricve­hi­cles wa­sex­tend­e­dun­til2016.

Base-year­restric­tion­for R&Dtax­cred­itswas­re­moved.

Def­i­ni­tionoftea, forthe pur­pos­eso­faze­roVATrate, waswidened­toin­clude­herbal teasan­dother fruit­in­fu­sions.

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