1. Irish Financial Services Law
  2. Legislation (IE)
  3. Acts
  4. 1997
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  1. Taxes Consolidation Act, 1997 (No. 39)
  2. Income Tax and Corporation Tax: The Main Provisions (ss. 32-531)
  3. Part 15 Personal Allowances and Reliefs and Certain Other Income Tax and Corporation Tax Reliefs (ss. 458-487)
  4. Chapter 2 Income tax and corporation tax: reliefs applicable to both (ss. 481-485B)
  5. 484.Objectives of section 485, purposes for which its provisions are enacted and certain duty of Minister for Finance respecting those provisions' operation.
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 December 2021 - onwards
  Version 5 of 5    

484.Objectives of section 485, purposes for which its provisions are enacted and certain duty of Minister for Finance respecting those provisions' operation.

(1)

(a) The objectives of section 485 are to -

(i) provide the necessary stimulus to the economy (in addition to that provided by Part 7 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 and the Financial Provisions (Covid-19) (No. 2) Act 2020) so as to mitigate the effects, on the economy, of Covid-19, and

(ii) if, as of 1 January 2021, no agreement stands entered into between the European Union and the United Kingdom (with respect to the future relations between them on the relevant matters), mitigate the effects on the economy which are apprehended may arise therefrom.

(b) In paragraph (a) 'relevant matters' means the matters described in Part II of the Political declaration setting out the framework for the future relationship between the European Union and the United Kingdom [OJ No. C384I, 12.11.2019, p.178].

(c) The purposes for which the several provisions of section 485 (in this section referred to as the 'Covid Restrictions Support Scheme') are, in furtheran

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