Section 121A of the Taxes Consolidation Act 1997 is amended, in subsection (2)(b) -

(a) in subparagraph (vi), by the substitution of "€50,000," for "€50,000, and",

(b) in subparagraph (vii) -

(i) in clause (I), by the insertion of "subject to subparagraph (viii)," before "€35,000", and

(ii) in clause (III), by the substitution of "2025, and" for "2025.",

and

(c) by the insertion of the following subparagraph after subparagraph (vii):

"(viii) the cash equivalent of the benefit of a van ascertained under subsection (3), for the year of assessment 2023, shall -

(I) where subparagraph (vii)(I) applies, be computed on the original market value of the van reduced by -

(A) the amount specified in subparagraph (vii)(I), and

(B) €10,000,

and

(II) in any other case, be computed on the original market value of the van reduced by €10,000.".