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Taxes Consolidation Act, 1997 (Number 39 of 1997)

377 Limit on deductions, etc. for hiring cars.

[FA73 s27]

Where apart from this section the amount of any expenditure on the hiring (otherwise than by means of hire-purchase) of a vehicle to which this Part applies would be allowed to be deducted or taken into account as mentioned in section 375, and the retail price of the vehicle at the time it was made exceeded the specified amount, the amount of that expenditure shall be reduced in the proportion which the specified amount bears to that price.