Taxes Consolidation Act, 1997 (Number 39 of 1997)
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669M Exemption for licence holder in respect of certain crew payments
(1) This section shall apply where a licence holder is chargeable to tax under Case IV of Schedule D in respect of the portion of the Brexit compensation sum which comprises the crew payment amount.
(2) Notwithstanding any provision of the Tax Acts, the total crew payment amount paid to the licence holder shall be exempt from income tax and corporation tax and shall not be reckoned in computing total income for the purposes of the Income Tax Acts.
(3) The crew payment amount paid to a licence holder shall not be deductible in computing the amounts of profits or gains chargeable to tax under Case IV of Schedule D.
(4) A licence holder shall not be entitled to an exemption under this section for the chargeable period concerned unless the crew payment amount is paid to the crew member concerned within 3 months of its receipt by the licence holder.
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Inserted by FPCovid22 s15(1)(a). Comes into operation on such day or days as the Minister may appoint by order or orders either generally or with reference to any particular purpose or provision and different days may be so appointed for different purposes or different provisions.