Taxes Consolidation Act, 1997 (Number 39 of 1997)
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372K Provision against double relief.
Where relief is given by virtue of any provision of this Chapter in relation to capital expenditure or other expenditure incurred on, or rent payable in respect of, any building, structure or premises, relief shall not be given in respect of that expenditure or that rent under any other provision of the Tax Acts.”.
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372KNon-application of relief in certain cases and provision against double relief.
(1) Notwithstanding any other provision of this Chapter, sections 372C and 372D shall not apply—
(a) in respect of expenditure incurred on the construction or refurbishment of a building or structure or a qualifying premises—
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(aa) in respect of expenditure incurred on or after 6 April 2001 on the construction or refurbishment of a building or structure or a qualifying premises the site of which is wholly within a qualifying area where any part of such expenditure has been or is to be met, directly or indirectly, by [4]>grant assistance from the State or from any other person<[4][4]>grant assistance or any other assistance which is granted by or through the State, any board established by statute, any public or local authority or any other agency of the State<[4],
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(i) where a property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and
(ii) either the person referred to in subparagraph (i) or a person connected (within the meaning of section 10) with that person incurred the expenditure on the construction or refurbishment of the building, structure or premises concerned,
(b) in respect of expenditure incurred on the construction or refurbishment of a building or structure or a qualifying premises where such building or structure or premises is in use for the purposes of a trade, or any activity treated as a trade, carried on by the person who is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure and such trade or activity is carried on wholly or mainly—
(i) in the sector of agriculture, including the production, processing and marketing of agricultural products,
(ii) in the coal industry, fishing industry or motor vehicle industry, or
(iii) in the transport, steel, shipbuilding, synthetic fibres or financial services sectors,
or
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(c) in relation to any building or structure or qualifying premises which is provided for the purposes of a project, the regional aid for which is limited under the “Multisectoral framework on regional aid for large investment projects”1 prepared by the Commission of the European Communities.
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(c) in respect of expenditure incurred on or after 1 January 2003 on the construction or refurbishment of any building or structure or qualifying premises provided for the purposes of a project which is subject to the notification requirements of—
(i) the “Multisectoral framework on regional aid for large investment projects”1 prepared by the Commission of the European Communities and dated 7 April 1998, or
(ii) the “Multisectoral framework on regional aid for large investment projects”2 prepared by the Commission of the European Communities and dated 19 March 2002,
as the case may be, unless approval of the potential capital allowances involved has been received from that Commission by the Minister for Finance, or by such other Minister of the Government, agency or body as may be nominated for that purpose by the Minister for Finance.
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(2) For the purposes of [5]>sections 372C, 372D, 372G and 372H<[5][5]>sections 372C and 372D<[5], where the site of any part of a building or structure is situate outside the boundary of a qualifying area and where expenditure incurred or treated as having been incurred in the qualifying period is attributable to the building or structure in general, such an amount of that expenditure shall be deemed to be attributable to the part which is situate outside the boundary of the qualifying area as bears to the whole of that expenditure the same proportion as the floor area of the part situate outside the boundary of the qualifying area bears to the total floor area of the building or structure.
(3) Where relief is given by virtue of any provision of this Chapter in relation to capital expenditure or other expenditure incurred on, or rent payable in respect of, any building, structure or premises, relief shall not be given in respect of that expenditure or that rent under any other provision of the Tax Acts.
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Substituted by FA02 s26(1)(a). This section applies as respects expenditure incurred on or after 7 February 2002.