340 Designated areas, designated streets and enterprise areas

Summary

The Minister for Finance, following consultation with the Minister for Environment and Local Government, may by order direct that certain areas and streets are to be “designated areas”, “designated streets” or “enterprise areas” for the purposes of the Chapter. In relation to any area or street so described by order, the Minister for Finance may also set down in the order the period which is to be treated as the “qualifying period” in relation to that area or street, but no such period may begin before 1 August, 1994 or end after 31 July, 1997 or such other date to which this termination date is extended by virtue of section 339(2).

The Minister for Finance, following consultation with the Minister for Public Enterprise, may also direct by order that certain locations adjacent to certain regional airports are to be “enterprise areas” for the purposes of this Chapter. In relation to any area so described by order, the Minister for Finance may also set down in the order the period which is to be treated as the “qualifying period” in relation to that area, but no such period may begin before 1 August, 1994 or end after 31 December, 1999, or 31 December 2000, in certain circumstances.

Details

Designated areas, designated streets and certain enterprise areas

(1) The Minister for Finance is empowered, after consultation with the Minister for the Environment and Local Government, to direct by order that an area or street is to be a designated area, a designated street or an enterprise area for the purposes of this Chapter. In relation to any such area or street, the qualifying period for the scheme of reliefs is to be the period as set out in the order, but no such period may begin before 1 August, 1994 or end after 31 July, 1997 or such other date to which this termination date is extended by virtue of section 339(2).

Enterprise areas adjacent to regional airports

(2) The Minister for Finance may by order direct that areas immediately adjacent to certain regional airports are to be treated as enterprise areas for the purposes of this Chapter. Before making any such order, the Minister for Finance must consult with the Minister for Public Enterprise and must also have received a proposal from or on behalf of a company wishing to set up qualifying trading operations (that is, manufacturing qualifying for the 10 per cent rate of corporation tax or internationally traded services as designated under the Industrial Development Act, 1986, for example, research and development services). The airports concerned are Cork, Donegal, Galway, Kerry, Knock, Sligo and Waterford. In relation to areas designated as enterprise areas under this provision, the qualifying period for relief is to be the period as set out in the order, but no such period may begin before 1 August, 1994 or end after:

• 31 December, 1999, or
• 31 December 2000, where the relevant local authority certifies by 31 May 2000, in accordance with Department of Environment guidelines, that at least 50 per cent of the project costs had been incurred by 31 December 1999.

Ministerial orders to be laid before Dáil Éireann

(3) Orders made by the Minister for Finance under this section must be laid before Dáil Éireann in the normal manner.

Relevant Date: Finance Act 2021