88 Deduction for gifts to Enterprise Trust Ltd

Section 88 repealed by Taxes Consolidation Act 1997 section 848A(13) (which was inserted by Finance Act 2001 section 45) with effect from 6 April 2001.

Summary

This section, together with section 472A, provides tax incentives, for both employers and employees, to help the long term unemployed to return to employment. Employers may claim a double deduction in computing the profits of the trade or profession in respect of the first 3 years wages paid to qualifying employees. This double deduction may also be claimed in respect of the employers’ PRSI contribution on such wages.

Both incentives apply in respect of individuals who have been unemployed for at least 12 months and in receipt of a specified social welfare payment or who are in a category approved of for the purposes of the scheme by the Minister for Social, Community and Family Affairs with the consent of the Minister for Finance.

Relevant Date: Finance Act 2025