Legalize / Ireland / Act

Finance (No. 2) Act 2023

Type Act

Publication 2023-12-18

State In force

Source Irish Statute Book

articles 102

Reform history JSON API

(i) by the deletion of “by the donee or successor”, and

(ii) by the substitution of “the valuation date of the gift or inheritance” for “the date of the gift or inheritance”,

and

(b) by the substitution of “, by virtue of the return delivered in respect of the gift or inheritance being defective in a material respect, an additional return shall be delivered to the Commissioners, and any outstanding tax paid, in accordance with section 46(9)” for “tax shall be payable accordingly”.

(4) Subsection (1) (b) (i) (I) (B), paragraphs (a) and (b) of subsection (2) and subsection (3) (a) (ii) shall not apply in relation to gifts or inheritances taken before 1 January 2024.

PART 6 Miscellaneous

82. **Interpretation (Part 6)**

82. In this Part, “Principal Act” means the Taxes Consolidation Act 1997.

83. Amendment of section 895 of Principal Act (returns in relation to foreign accounts)

83. Section 895 of the Principal Act is amended—

(a) in subsection (1), by the insertion of the following definitions:

“ ‘specified foreign account’ means a foreign account, opened in a territory outside the State that is not a listed territory within the meaning of section 835YA, the details of which are required to be—

(a) in the case of a foreign account opened in the United States of America, exchanged with the State under the Agreement (within the meaning of section 891E),

(b) in the case of a foreign account opened in a jurisdiction that has entered into an agreement with the State pursuant to Article 6 of the Convention on Mutual Administrative Assistance in Tax Matters done at Strasbourg on 25 January 1988 and the Protocol amending the Convention done at Paris on 27 May 2010, exchanged with the State in accordance with the standard (within the meaning of section 891F), or

(c) in the case of a foreign account opened in a Member State other than the State, communicated to the State under the Directive (within the meaning of section 891G);

‘specified individual’, in respect of a year in which a specified foreign account is opened, means an individual who—

(a) but for the provisions of this section, would not be a chargeable person (within the meaning of Part 41A),

(b) is not an accountable person (within the meaning of section 1 of the Stamp Duties Consolidation Act 1999), and

(c) is not accountable for the payment of gift tax or inheritance tax in accordance with section 45 of the Capital Acquisitions Tax Consolidation Act 2003;”,

and

(b) by the insertion of the following subsection after subsection (6):

“(7) Subsection (6) shall not apply to a specified individual in respect of the opening of a specified foreign account.”.

84. Amendment of section 3 of Principal Act (Interpretation of Income Tax Acts)

84. Section 3 of the Principal Act is amended—

(a) in subsection (1), by the substitution of the following definition for the definition of “incapacitated person”:

“ ‘incapacitated person’ shall be construed in accordance with subsection (5);”,

and

(b) by the insertion of the following subsection after subsection (4):

“(5) References in the Income Tax Acts to an incapacitated person shall, except where the contrary intention appears, be construed as references to a person who is—

(a) a person who lacks capacity within the meaning of the Assisted Decision-Making (Capacity) Act 2015, or

(b) a minor.”.

85. Amendment of section 92 of Finance Act 1989

85. Section 92 of the Finance Act 1989 is amended, in subsection (1), by the substitution of “the Minister for Transport” for “the Minister for the Environment”.

86. Amendment of Part 38 of Principal Act (returns of income and gains, other obligations, etc.)

86. Part 38 of the Principal Act is amended—

(a) in section 891E—

(i) in subsection (8)—

(I) in paragraph (a), by the substitution of “Subject to subsection (8A), section 898O” for “Section 898O”, and

(II) in paragraph (b), by the substitution of “Subject to subsection (8A), a person who” for “A person who”,

and

(ii) by the insertion of the following subsection after subsection (8)—

“(8A) (a) Where a trust or partnership would, but for the operation of this subsection, be liable to a penalty pursuant to paragraph (a) or (b) of subsection (8), the liable person of the trust or partnership shall be liable to the penalty.

(b) For the purpose of paragraph (a), and subject to paragraph (c), ‘liable person’ means, in relation to—

(i) a partnership, the precedent partner (within the meaning of section 1007) of the partnership,

(ii) a trust which is not an investment undertaking, the trustees of the trust, and

(iii) a trust which is an investment undertaking, the trustees of the trust, the management company or other such person, as the case may be, who, in the circumstances of the investment undertaking concerned—

(I) is authorised to act on behalf, or for the purposes, of the investment undertaking in respect of its investment activities, and

(II) habitually does so.

(c) Where a liable person identified pursuant to paragraph (b) is a partnership or trust, paragraph (b) shall be applied in respect of the partnership or trust until a liable person who is not a partnership or trust is identified pursuant to that paragraph.

(d) In this subsection, ‘investment undertaking’ has the same meaning as it has in section 739B.”,

(b) in section 891F—

(i) in subsection (7)—

(I) in paragraph (a), by the substitution of “Subject to subsection (7A), section 898O” for “Section 898O”, and

(II) in paragraph (b), by the substitution of “Subject to subsection (7A), a person who” for “A person who”,

and

(ii) by the insertion of the following subsection after subsection (7)—

“(7A) (a) Where a trust or partnership would, but for the operation of this subsection, be liable to a penalty pursuant to paragraph (a) or (b) of subsection (7), the liable person of the trust or partnership shall be liable to the penalty.

(b) For the purpose of paragraph (a), and subject to paragraph (c), ‘liable person’ means, in relation to—

(i) a partnership, the precedent partner (within the meaning of section 1007) of the partnership,

(ii) a trust which is not an investment undertaking, the trustees of the trust, and

(iii) a trust which is an investment undertaking, the trustees of the trust, the management company or other such person, as the case may be, who in the circumstances of the investment undertaking concerned—

(I) is authorised to act on behalf, or for the purposes, of the investment undertaking in respect of its investment activities, and

(II) habitually does so.

(d) In this subsection, ‘investment undertaking’ has the same meaning as it has in section 739B.”,

and

(i) in subsection (7)—

(I) in paragraph (a), by the substitution of “Subject to subsection (7A), section 898O” for “Section 898O”, and

(II) in paragraph (b), by the substitution of “Subject to subsection (7A), a person who” for “A person who”,

and

(ii) by the insertion of the following subsection after subsection (7)—

(b) For the purpose of paragraph (a), and subject to paragraph (c), ‘liable person’ means, in relation to—

(i) a partnership, the precedent partner (within the meaning of section 1007) of the partnership,

(ii) a trust which is not an investment undertaking, the trustees of the trust, and

(I) is authorised to act on behalf, or for the purposes, of the investment undertaking in respect of its investment activities, and

(II) habitually does so.

(d) In this subsection, ‘investment undertaking’ has the same meaning as it has in section 739B.”.

87. Administrative cooperation

87. The Principal Act is amended—

(a) in section 817REA—

(i) by the substitution of the following subsection for subsection (1):

“(1) Subject to subsections (2) and (3), an authorised officer may make such enquiries as he or she considers necessary for the purpose of satisfying himself or herself as to whether information—

(a) included in a return made in accordance with section 817RC or 817RD, as appropriate, was correct and complete, or

(b) not included in such a return was correctly not so included.”,

and

(ii) by the insertion of the following subsection after subsection (1) (as amended by subparagraph (i)):

“(1A) An authorised officer may, at all reasonable times, enter any premises or place of business of an intermediary or relevant taxpayer for the purpose of carrying out the enquiries referred to in subsection (1).”,

and

(b) in section 891I—

(i) in subsection (2)—

(I) by the insertion of “ ‘effective qualifying competent authority agreement’,” after “ ‘consideration’,”, and

(II) by the insertion of “ ‘qualified relevant activities’,” after “ ‘qualified non-union platform operator’,”,

(ii) in subsection (3)—

(I) by the insertion of the following paragraphs after paragraph (c):

“(ca) A platform operator shall, when registering with the Revenue Commissioners pursuant to paragraph (c), provide the following:

(i) the name of the platform operator;

(ii) the postal address of the platform operator;

(iii) the electronic address, including website addresses, of the platform operator;

(iv) any TIN that has been issued to the platform operator;

(v) a statement with information about the identification of that platform operator for VAT purposes within the European Union, pursuant to Title XII, Chapter 6, Sections 2 and 3 of Council Directive 2006/112/EC[^20];

(vi) the Member States in which reportable sellers are resident.

(cb) Where a platform operator has registered with the Revenue Commissioners pursuant to paragraph (c) prior to 1 January 2024, the platform operator shall provide the information specified in paragraph (ca) to the Revenue Commissioners not later than 31 January 2024.

(cc) Where there is a change in any of the information specified in paragraph (ca) provided to the Revenue Commissioners by a platform operator, the platform operator shall notify the Revenue Commissioners of the change not later than the last day of the month following the month in which the change occurred.”,

and

(II) by the substitution of the following paragraph for paragraph (g):

“(g) Where—

(i) a platform operator’s Platform Operator ID has been revoked under paragraph (e), or

(ii) the equivalent of a Platform Operator ID assigned by the competent authority of another Member State has been revoked under a provision similar to paragraph (e) in force in the other Member State, the Platform Operator ID shall not be reinstated, or a new Platform Operator ID shall not be issued to the platform operator, until the platform operator demonstrates, by way of documentary evidence to the satisfaction of the Revenue Commissioners, and provides the Revenue Commissioners with a written assurance, that it will comply with the obligations imposed under this section, the regulations made under this section and such similar provisions as may be in force in any other Member State.”,

(iii) in subsection (5), by the substitution of “Subject to subsection (5A), a return made under subsection (4)” for “A return made under subsection (4)”,

(iv) by the insertion of the following subsection after subsection (5):

“(5A) Notwithstanding subsection (5), a reporting platform operator that has registered with the Revenue Commissioners as a platform operator under subsection (3)(c) shall not be required to provide the information specified in subsection (5) with respect to qualified relevant activities covered by an effective qualifying competent authority agreement that provides for the automatic exchange of equivalent information with a Member State on reportable sellers in the Member State.”,

(v) in subsection (7)—

(I) by the substitution of the following paragraph for paragraph (b):

“(b) Where a reportable seller does not provide the relevant information to the reporting platform operator, the reporting platform operator shall on the day immediately following the expiration of the period referred to in paragraph (c)(ii) (referred to in paragraph (ba) as ‘the relevant date’) and until such time as the relevant information has been provided—

(i) either—

(I) subject to paragraph (ba), withhold payment of any consideration due to the reportable seller, or

(II) close the account of the reportable seller and prevent the reportable seller from reopening the account,

and

(ii) prevent the reportable seller from opening a new account with the reporting platform operator.”,

and

(II) by the insertion of the following paragraph after paragraph (b) (amended by clause (I)):

“(ba) Where a reporting platform operator has withheld payment of consideration due to a reportable seller pursuant to clause (I) of paragraph (b)(i), and the reportable seller does not provide the relevant information to the reporting platform operator within 24 months of the relevant date, the reporting platform operator shall pay to the reportable seller any consideration withheld in accordance with that clause and, until such time as the relevant information has been provided, take the actions specified in clause (II) of paragraph (b)(i) in respect of the reportable seller concerned.”,

(vi) in subsection (10)(d)—

(I) by the substitution of the following subparagraph for subparagraph (ii):

“(ii) closes the account of a reportable seller and prevents a reportable seller from reopening the account pursuant to paragraph (b)(i)(II) or (ba) of subsection (7)”,

(II) in subparagraph (iii), by the substitution of “subsection (7)(b)(ii), or” for “subsection (7)(b)(i)(III),”,

(III) in subparagraph (iv), by the substitution of “subsection (7)(ba)” for “subsection (7)(b)(i)(A)”, and

(IV) by the deletion of subparagraphs (v) and (vi), and

(vii) in subsection (16)(b)(ii), by the substitution of “paragraphs (b) and (ba) of subsection (7)” for “subsection (7)(b)”.

88. Implementation of Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation in relation to joint audits

88. Part 38 of the Principal Act is amended by the insertion of the following section after section 891K:

“891L. (1) In this section—

‘authorised officer’ means an authorised officer within the meaning of section 905;

‘competent authority’ means the authority designated as such by a Member State for the purposes of the Directive and, in relation to the State, means the Revenue Commissioners;

‘Directive’ means Council Directive 2011/16/EU of 15 February 2011[^21] as amended by Council Directive 2014/107/EU of 9 December 2014[^22], Council Directive (EU) 2015/2376 of 8 December 2015[^23], Council Directive (EU) 2016/881 of 25 May 2016[^24], Council Directive (EU) 2016/2258 of 6 December 2016[^25], Council Directive (EU) 2018/822 of 25 May 2018[^26], Council Directive (EU) 2020/876 of 24 June 2020[^27] and Council Directive (EU) 2021/514 of 22 March 2021[^28];

‘foreign tax official’ means an official of a requesting authority who is—

(a) authorised by the requesting authority to exercise the power specified in paragraph (3)(a) of Article 12a of the Directive to interview individuals and examine records on behalf of the Member State concerned, or

(b) authorised by the requesting authority under the Directive to assist or represent the official referred to in paragraph (a) in the performance of his or her functions;

‘joint audit’ means an administrative enquiry—

(a) jointly conducted by the Revenue Commissioners and the competent authority of another Member State, and

(b) linked to one or more persons of common or complementary interest to the Revenue Commissioners and that competent authority;

‘nominated officer’ means a foreign tax official authorised by the Revenue Commissioners under subsection (5) to be a nominated officer;

‘records’ has the same meaning as it has in section 905;

‘Revenue officer’ means an officer of the Revenue Commissioners.

(2) A requesting authority may request the Revenue Commissioners to conduct a joint audit.

(3) The Revenue Commissioners shall respond to a request under subsection (2) within 60 days of the date of receipt of that request.

(4) Where a joint audit is requested under subsection (2), the Revenue Commissioners may reject such a request where there are justified grounds for doing so.

(5) The Revenue Commissioners may, by authorisation issued in writing (in this section referred to as a ‘written authorisation’), authorise a foreign tax official to be a nominated officer in respect of a joint audit and to perform any of the functions conferred on a nominated officer under this section for the purposes of the joint audit.

(6) A written authorisation shall contain—

(a) the name of the foreign tax official,

(b) a statement to the effect that the foreign tax official is—

(i) a tax official of a specified requesting authority, and

(ii) a nominated officer,

(d) particulars of the authorisation under this section of the foreign tax official,

(e) the duration of the written authorisation,

(f) the name of the person who is the subject of the joint audit concerned,

(g) a hologram showing the logo of the Office of the Revenue Commissioners, and

(h) the facsimile signature of a Revenue Commissioner.

(7) Where a request for a joint audit under subsection (2) is accepted by the Revenue Commissioners, the joint audit shall be conducted in a pre-agreed and coordinated manner, including linguistic arrangements, by the Revenue Commissioners and the competent authority of the requesting State, in accordance with this Act, any other law of the State and any procedural requirements applicable to such an audit in the State.

(8) The Revenue Commissioners shall, for the purposes of a joint audit, appoint an authorised officer to be responsible for supervising and co-ordinating the joint audit in the State.

(9) Subject to subsections (10), (11) and (12), a nominated officer may—

(a) accompany an authorised officer during a joint audit, and

(b) for the purposes of conducting the joint audit—

(i) interview individuals, and

(ii) examine records.

(10) A nominated officer shall not perform any function under this section that would exceed the scope of the functions granted to the nominated officer under the laws of the requesting authority.

(11) Nothing in this section shall be construed as requiring any person to disclose to a nominated officer—

(a) information with respect to which a claim to legal professional privilege could be maintained in legal proceedings,

(b) information of a confidential medical nature, or

(c) professional advice of a confidential nature given to a client (other than advice given as part of a dishonest, fraudulent or criminal purpose).

(12) A nominated officer shall not, without the consent of the occupier, enter any premises, or that portion of any premises, which is occupied wholly and exclusively as a private residence, except on production by an authorised officer of a warrant issued under subsection (2A) of section 905 in which the nominated officer is named pursuant to paragraph (c) of that subsection.

(13) A person who does not comply with any requirement of a nominated officer in the performance of the nominated officer’s functions under this section shall be liable to a penalty of €4,000.

(14) A nominated officer when performing his or her functions under this section shall on request produce—

(a) his or her written authorisation, and

(b) his or her authorisation from the requesting authority stating his or her identity and official capacity.

(15) Where, in the performance of any functions under this section, a nominated officer is requested to produce or show his or her authorisation for the purposes of this section, the production by the nominated officer of his or her written authorisation—

(a) shall be taken as evidence of authorisation under this section, and

(b) shall satisfy an obligation under this section which requires the nominated officer to produce such authorisation on request.

(16) A written authorisation shall be valid for the duration specified in the authorisation, and in any event, for no longer than the duration of the joint audit in respect of which it is issued, and may at any time be withdrawn by the Revenue Commissioners.

(17) The Revenue Commissioners and the competent authority of the requesting state shall, in relation to a joint audit, endeavour to agree—

(a) the facts and circumstances relevant to the joint audit, and

(b) the tax position of the person the subject of the joint audit, based on the results of the joint audit.

(18) (a) The authorised officer responsible for a joint audit and such nominated officer as may be authorised in respect of the joint audit, shall, at the conclusion of the joint audit, prepare a final report detailing the findings of the joint audit, including issues on which the authorised officer and the nominated officer agree.

(b) The person the subject of a joint audit shall be informed of the outcome of the joint audit and provided with a copy of the final report in respect of the joint audit within 60 days of the issuance of the final report.

(19) In determining the actions, if any, to be taken following the conclusion of a joint audit, the Revenue Commissioners shall take into account the issues on which agreement has been reached as part of the joint audit.

(20) A person subject to a joint audit shall have the same rights and obligations as in the case of an enquiry carried out by Revenue officers only, including in the course of any process of complaint, review or appeal relating to the joint audit.

(21) The Revenue Commissioners may delegate to any of their officers any of the functions to be performed by the Revenue Commissioners under this section as the competent authority of the State.

(22) A word or expression which is used in this section and which is also used in the Directive has, unless the context otherwise requires, the same meaning in this section as it has in the Directive.

(23) (a) Section 851A shall apply to a nominated officer, or a person who was formerly a nominated officer, as it applies to an authorised officer, subject to the modification that references to a ‘Revenue officer’ in—

(i) the definition, in subsection (1) of that section, of ‘taxpayer information’,

(ii) subsections (2), (3) and (4) of that section,

(iii) subsection (8) of that section, insofar as it applies to paragraphs (b), (c), (d) and (i) of that subsection, and

(iv) subject to paragraph (b), subsection (9) of that section,

shall be construed as including a reference to a nominated officer (within the meaning of this section) and a person who was formerly a nominated officer (within the said meaning).

(b) Paragraph (a)(iv) shall not operate to permit the due disclosure in the course of duties of taxpayer information (within the meaning of section 851A) by a service provider (within the said meaning) to a nominated officer or a person who was formerly a nominated officer.

(24) This section shall apply in respect of periods (within the meaning of section 1077F) beginning on or after 1 January 2024.”.

89. Amendment of references to credit institutions in certain provisions of Principal Act

89. The Principal Act is amended—

(a) in section 891B(1), in the definition of “financial institution”—

(i) in paragraph (aa), by the substitution of “State savings products, or” for “State savings products,”,

(ii) in paragraph (b), by the substitution of “the Central Bank Act 1971;” for “the Central Bank Act 1971, or”, and

(iii) by the deletion of paragraph (c),

(b) in section 906A(1), in the definition of “financial institution”—

(i) in paragraph (a), by the substitution of “section 9, or” for “section 9,”,

(ii) in paragraph (b), by the substitution of “the Central Bank Act 1971;” for “the Central Bank Act 1971, or”, and

(iii) by the deletion of paragraph (c),

(i) in paragraph (a), by the substitution of “section 9, or” for “section 9,”,

(ii) in paragraph (b), by the substitution of “the Central Bank Act 1971;” for “the Central Bank Act 1971, or”, and

(iii) by the deletion of paragraph (c),

(d) in section 908B(1), in the definition of “financial institution”—

(i) in paragraph (a), by the substitution of “section 9, or” for “section 9,”,

(ii) in paragraph (b), by the substitution of “the Central Bank Act 1971;” for “the Central Bank Act 1971, or”, and

(iii) by the deletion of paragraph (c), and

(e) in section 1002(1), in the definition of “financial institution”—

(i) in paragraph (b), by the substitution of “the Central Bank Act 1971, or” for “the Central Bank Act 1971,”, and

(ii) by the deletion of paragraph (c).

90. Amendment of Part 22B of Principal Act (vacant homes tax)

90. (1) The Principal Act is amended by the substitution of the following section for section 653AP:

“Amount of vacant homes tax

653AP. (1) The amount of vacant homes tax to be charged in respect of a residential property for the chargeable period commencing on 1 November 2022 shall be the amount represented by ‘A’ in the formula—

A = B x 3

where ‘B’ is the amount of local property tax payable in respect of the residential property in relation to the liability date of 1 November 2022 calculated in accordance with section 17 of the Act of 2012 (before any adjustment is made in accordance with section 20 of that Act).

(2) The amount of vacant homes tax to be charged in respect of a residential property for the chargeable period commencing on 1 November 2023 and for each subsequent chargeable period shall be the amount represented by ‘A’ in the formula—

A = B x 5

where ‘B’ is the amount of local property tax payable in respect of the residential property in relation to the liability date falling in the year in which the chargeable period commences calculated in accordance with section 17 of the Act of 2012 (before any adjustment is made in accordance with section 20 of that Act).”.

(2) Section 653BH of the Principal Act is amended by the substitution of the following subsection for subsection (2):

“(2) Part 37 shall apply to vacant homes tax subject to the following modifications:

(a) in sections 849, 861, 863, 864, 866, 872 and 874, a reference to income tax shall be construed as a reference to vacant homes tax;

(b) in section 863, a reference to a year shall be construed as a reference to a chargeable period;

(c) in sections 851, 852, 856, 860, 861, 862, 864, 867, 868, 869, 870, 873 and 874, a reference to the Tax Acts shall be construed as a reference to this Part;

(d) in section 870, the reference to the Income Tax Acts shall be construed as a reference to this Part.”.

(3) Section 653AN of the Principal Act is amended, in subsection (1), by the insertion of the following definition:

“ ‘chartered engineer’ means a chartered engineer included on the register referred to in section 7 of The Institution of Civil Engineers of Ireland (Charter Amendment) Act, 1969;”.

(4) Section 653BC of the Principal Act is amended, in paragraph (f)(i), by the insertion of “or chartered engineer” after “registered professional”.

91. Amendment of section 1003 of Principal Act (payment of tax by means of donation of heritage items)

91. Section 1003 of the Principal Act is amended, in subsection (2)(c)(ii), by the substitution of “€8,000,000” for “€6,000,000”.

92. Residential zoned land tax

92. (1) Section 653B of the Principal Act is amended by the insertion of the following paragraph after paragraph (ii):

“(iia) the development of which would not conform with—

(I) in a case in which the land is zoned in a development plan, the phased basis in accordance with which development of land is to take place under the plan, as detailed in the core strategy included in that plan in accordance with section 10(2A)(d) of the Act of 2000, or

(II) in a case in which the land is zoned in a local area plan, the objective, consistent with the objectives and core strategy of the development plan for the area in respect of which the local area plan is prepared, of development of land on a phased basis, included in the local area plan in accordance with section 19(2) of the Act of 2000,

on the date on which satisfaction of the criteria in this section is being assessed,”.

(2) Section 653I of the Principal Act is amended—

(a) by the substitution of the following subsection for subsection (1):

“(1) A person, who is the owner of such lands, may make a submission in writing—

(a) before 1 January 2023, to a local authority on a draft map published in accordance with section 653C,

(b) before 1 June 2023, to a local authority on a supplemental map published in accordance with section 653F, or

(c) before 31 May 2024, to a local authority on a draft map published in accordance with section 653C(2), as applied, in accordance with section 653M(2)(a), for the purpose of the revision of a final map for the year 2025 in accordance with section 653M(1),

requesting a change to the zoning of lands included in the draft map or supplemental map, as the case may be.”,

and

(b) by the substitution of the following subsection for subsection (4):

“(4) Where a submission is made in accordance with subsection (1), the local authority shall—

(a) evaluate the submission,

(b) consider whether to propose to make a variation under section 13 of the Act of 2000 or to reject the request for a change to the zoning of the lands, and

(c) in a case in which a submission is made under subsection (1)(c), not later than 31 July 2024, notify the owner concerned of its decision to—

(i) reject the request for a change to the zoning of lands, or

(ii) propose to make a variation to a development plan under section 13 of the Act of 2000.”.

(3) The Principal Act is amended by the substitution of the following section for section 653K:

“Final map

653K. A local authority shall—

(a) taking into account the inclusion of sites in the supplemental map prepared by it,

(b) having given due consideration to the submissions, if any, received by it in accordance with sections 653D and 653G regarding the date on which land constituting a site first satisfied the relevant criteria,

(c) reflecting the determinations, if any, made under section 653E and 653H or, where any such determination has been appealed under section 653J, the decision in the appeal relating to that determination,

(d) reflecting changes to the zoning of land as a result of—

(i) a review of the development plan concerned carried out under section 11 of the Act of 2000,

(ii) the variations, if any, made to the development plan concerned under section 13 of the Act of 2000, or

(iii) the making or amendment of a local area plan under section 20 of the Act of 2000,

since the publication by the local authority of a draft map in accordance with section 653C, as a result of which the land is no longer land which satisfies the relevant criteria,

(e) reflecting the determination of applications, if any, made—

(i) to retain unauthorised development, pursuant to section 34(12C) of the Act of 2000, or

(ii) for substitute consent, in accordance with section 177E of the Act of 2000,

and

(f) reflecting the effect of any changes in service capacity as regards water supply or wastewater treatment, as the case may be, as detailed in a register published by a statutory undertaker (within the meaning of the Act of 2000) since the publication by the local authority of a draft map in accordance with section 653C, as a result of which land having previously satisfied the relevant criteria no longer satisfies the relevant criteria,

make such revisions to the draft map as it considers appropriate and publish, no later than 1 December 2023, a map (in this Part referred to as a ‘final map’) specifying—

(I) the date on which land identified on the map first satisfied the relevant criteria, where that date is after 1 January 2022, and

(II) the total area, in hectares, of land identified on the map.”.

(4) Section 653O(1) of the Principal Act is amended by the substitution of “published under section 653M” for “published under section 653K or 653M, as the case may be,”.

(5) Section 653Q(1)(a) of the Principal Act is amended by the substitution of “2025” for “2024”.

(6) Section 653X(1) of the Principal Act is amended—

(a) by the substitution of the following paragraph for paragraph (e):

“(e) for the purposes of section 653AH, in section 959AA(1)—

(i) ‘after the end of 4 years commencing at the end of the year in which a certificate of completion is lodged’ shall be substituted for ‘after the end of 4 years commencing at the end of the chargeable period in which the return is delivered’, and

(ii) in paragraph (ii), ‘after the end of 4 years commencing at the end of the year in which a certificate of completion is lodged’ shall be substituted for ‘after the end of a period of 4 years commencing at the end of the chargeable period for which the return is delivered’;”,

and

(b) by the substitution of the following paragraph for paragraph (f):

“(f) for the purposes of section 653AHA, in section 959AA(1)—

(i) ‘after the end of 4 years commencing at the end of the year in which the relevant contract (within the meaning of section 653AHA) expires’ shall be substituted for ‘after the end of 4 years commencing at the end of the chargeable period in which the return is delivered’, and

(ii) in paragraph (ii), ‘after the end of 4 years commencing at the end of the year in which the relevant contract (within the meaning of section 653AHA) expires’ shall be substituted for ‘after the end of a period of 4 years commencing at the end of the chargeable period for which the return is delivered’.”.

(7) Section 653Z(2) of the Principal Act is amended by the substitution of “due” for “due and payable”.

(8) Section 653AC(5) is amended by the substitution of “the error in the return is remedied” for “the error in the return of income is remedied”.

(9) Section 653AD is amended by the insertion of the following subsections after subsection (6):

“(7) This subsection applies where—

(a) this section and section 653AH apply in respect of a site, and

(b) the date specified in the notification under subsection (2) is before the date on which the commencement notice referred to in section 653AH(1)(c) is lodged.

(8) Where subsection (7) applies, on the making of a claim by the liable person, residential zoned land tax deferred in accordance with section 653AH in respect of a site shall not be due and payable in respect of the site, or part of the site, affected in the manner described in subsection (1).

(9) Where only part of the site is affected in the manner described in subsection (1), the amount of residential zoned land tax deferred in accordance with section 653AH that is not due and payable in accordance with subsection (8), shall be determined by the formula in subsection (6), subject to the following modifications:

C shall be the amount of deferred tax which is not due and payable,

T shall be the total amount of deferred residential zoned land tax in respect of the site,

Apart shall be the area, in square metres, of the part of the site affected in the manner described in subsection (1), and

Atotal shall be the total area, in square metres, of the site.”.

(10) Section 653AE(1) of the Principal Act is amended by the substitution of the following paragraph for paragraph (c):

“(c) a submission has been made under section 653I and the local authority has notified the owner concerned of its decision to propose to make a variation, but no variation has been made to the development plan as a consequence of that decision,”.

(11) Section 653AF(4) of the Principal Act is amended by the substitution of “that arose from the date on which the relevant appeal was made until such time as the relevant appeal is determined” for “until such time as the relevant appeal is determined”.

(12) Section 653AFA(4) of the Principal Act is amended by the substitution of “that arose from the date of the making of the application until such time as the application is determined” for “until such time as the application is determined”.

(13) Section 653AFB is amended—

(a) by the substitution of the following subsection for subsection (16):

“(16) Where—

(a) the application referred to in subsection (14) is determined by the local authority concerned such that permission to retain the unauthorised development is granted, or

(b) the application referred to in subsection (14) is determined by An Bord Pleanála such that substitute consent is granted,

the tax deferred on foot of the claim under subsection (6) or (7), as the case may be, shall not be due and payable.”,

and

(b) in paragraph (b) of subsection (18), by the substitution of “relevant appeal or relevant petition” for “relevant appeal”.

(14) Section 653AH of the Principal Act is amended, in subsection (7A), by the substitution of “subsections (3) or (7)(b)” for “subsection (7)(b)”.

(15) Section 653AI of the Principal Act is amended—

(a) in paragraph (b) of subsection (10), by the substitution of “653AF(4)” for “653AF(3),”,

(b) in paragraph (b) of subsection (11), by the substitution of “653AH(3)” for “653AH(4)”,

“(12) Notwithstanding subsection (9)(b), (10)(b), (10A)(b), (10B) or (11)(b), sections 653AE(4), 653AF(4), 653AFA(4), 653AFB(6) and (7) and 653AH(3) shall continue to apply to a beneficiary or beneficiaries, as the case may be, of a site to which section 653AE(4), or a relevant site to which section 653AF(4), 653AFA(4), 653AFB(6) or (7) or 653AH(3), was applicable at the end of the administration period, as if the beneficiary or beneficiaries were the liable person of that relevant site at the date of death of the deceased person.”,

and

(d) by the substitution of the following subsection for subsection (13):

“(13) Any charge on the land arising under subsections (9)(b), (10)(b), (10A)(b), (10B) or (11)(b) shall cease to apply where the residential zoned land tax to which the charge relates would not be payable by a beneficiary or beneficiaries, as the case may be, of the relevant site to which the charge relates, under section 653AE(5), 653AF(4)(a), 653AFA(5), 653AFB(9), 653AFB(13) or 653AH(7), as the case may be, had they been the liable person with respect to that relevant site at the date of death of the deceased person.”.

93. Amendment of Part 18E of Principal Act (defective concrete products levy)

93. (1) Part 18E of the Principal Act is amended—

(a) in section 531AAG—

(i) in the definition of “concrete”, by the substitution of “coarse or fine aggregate (or a combination thereof)” for “coarse and fine aggregate”,

(ii) in the definition of “concrete product”, by the substitution of the following paragraph for paragraph (b):

“(b) ready to pour concrete;”,

and

(iii) by the insertion of the following definitions:

“ ‘precast concrete product’ is a product which—

(a) contains concrete,

(b) is manufactured in a specially equipped facility through a process of—

(i) casting the concrete in a reusable mould or form, and

(ii) curing the concrete in a controlled environment,

(i) a premises or place in or on which the product will be made available for wholesale or retail sale,

(ii) a construction site, or

(iii) the final destination of use,

and

(d) is manufactured as part of a trade consisting of the manufacture of such products for supply to customers where that trade is ordinarily carried on in a facility in which the manufacturing process takes place;

‘specified person’ means a person who acquires a first supply of ready to pour concrete which is used by that person in the manufacture of a precast concrete product;

‘tax reference number’ means a tax reference number (within the meaning of section 891B) or a TIN (within the meaning of section 891F);”,

(b) in section 531AAJ(2)(b), by the deletion of “(within the meaning of section 891B) or TIN (within the meaning of section 891F)”,

“First supply of ready to pour concrete to specified person

531AAJA. (1) A specified person may make a declaration, satisfying the requirements specified in subsection (3), to a chargeable person in respect of—

(a) the first supply of ready to pour concrete that will be utilised in the manufacture of precast concrete products, or

(b) so much of the first supply of ready to pour concrete as will be so utilised.

(2) Where a declaration made under subsection (1) is made to the chargeable person concerned, the defective concrete products levy shall not be chargeable on the first supply or so much of that first supply as is utilised for the manufacture of precast concrete products, as the case may be, in respect of which the declaration is made.

(3) A declaration made under subsection (1) shall—

(a) be in respect of the first supply of ready to pour concrete supplied in an accounting period commencing on or after 1 January 2024,

(b) be in a form prescribed by the Revenue Commissioners, and

(i) the name, address (including the Eircode) and tax reference number of the specified person;

(ii) the name, address (including the Eircode) and tax reference number of the chargeable person;

(iii) the delivery address (including the Eircode) for the ready to pour concrete in respect of which the declaration is being made;

(iv) the date of supply of the ready to pour concrete in respect of which the declaration is being made;

(v) the amount of ready to pour concrete, in cubic metres, in respect of which the declaration is being made;

(vi) the open market value of the ready to pour concrete in respect of which the declaration is being made;

(vii) a declaration that the supply of ready to pour concrete in respect of which the declaration is being made is to be used in the manufacture of a precast concrete product;

(viii) a declaration that the particulars shown on the form are correct and complete;

(ix) such other information as the Revenue Commissioners may prescribe.

(4) Where requested to do so by the Revenue Commissioners, a specified person shall produce such documentary evidence as is necessary to verify to the satisfaction of the Revenue Commissioners that the ready to pour concrete in respect of which a declaration was made was used in the manufacture of precast concrete products.

(5) A chargeable person shall retain an original declaration provided to them by a specified person.

(6) A specified person shall retain a copy of a declaration provided by them to a chargeable person.

(7) Where ready to pour concrete is supplied to a person without the defective concrete products levy having been charged, levied and paid on the concrete as a result of a false, incorrect or misleading declaration having been made by the person under subsection (1) in respect of the concrete, the person shall be liable—

(a) to a penalty not exceeding €4,000, and

(b) to pay to the Revenue Commissioners an amount equal to the amount of the defective concrete products levy which would have been chargeable for the ready to pour concrete if a false, incorrect or misleading declaration had not been made.

(8) A person shall, without prejudice to any other penalty to which the person may be liable, be guilty of an offence under this section if the person—

(a) knowingly or wilfully delivers any incorrect declaration or statement, or knowingly or wilfully furnishes any incorrect information, in connection with the operation of this section or a declaration under subsection (1) in relation to any person, or

(b) knowingly aids, abets, assists, incites, or induces another person to make or deliver knowingly or wilfully any incorrect declaration or statement, or knowingly or wilfully furnish any incorrect information, in connection with the operation of this section or a declaration under subsection (1) in relation to any person,

and the provisions of subsections (3) to (10) of section 1078, and section 1079, shall, with any necessary modifications, apply for the purposes of this subsection as they apply for the purposes of offences in relation to tax within the meaning of section 1078.

(9) (a) Where a Revenue officer determines that a person is liable under subsection (7), the Revenue officer shall notify the person in writing accordingly.

(b) A person aggrieved by a determination under paragraph (a), may appeal the determination to the Appeal Commissioners, in accordance with section 949I, within the period of 30 days after the date on the notification of the determination.

(c) The reference to the Tax Acts in paragraph (a) of the definition of ‘Acts’ in section 949A shall be read as including a reference to this section.

Repayment of defective concrete products levy

531AAJB. (1) Where ready to pour concrete was utilised by a specified person in the manufacture of precast concrete products in the accounting period from 1 September 2023 to 31 December 2023, the specified person may make a claim to the Revenue Commissioners for a refund in the amount of the defective concrete products levy paid in respect of the ready to pour concrete.

(2) Subject to subsection (4), where a person making a claim under subsection (1)—

(a) establishes to the satisfaction of the Revenue Commissioners that—

(i) the person is a specified person, and

(ii) the person has utilised ready to pour concrete in the manufacture of precast concrete products in the accounting period from 1 September 2023 to 31 December 2023,

and

(b) has complied with the conditions specified in this section,

the person shall be entitled to be refunded an amount equal to the defective concrete products levy paid in respect of the ready to pour concrete referred to in paragraph (a)(ii).

(3) (a) A claim under subsection (1) shall be made by completing a form prescribed by the Revenue Commissioners.

(b) The form prescribed under paragraph (a) shall include—

(i) the name, address (including the Eircode) and tax reference number of the specified person,

(ii) the name of the chargeable person,

(iii) the date of supply of the ready to pour concrete in respect of which the claim is being made,

(iv) the amount of the refund being claimed,

(v) a declaration that the particulars shown on the form are correct and complete, and

(vi) such other information as the Revenue Commissioners may prescribe.

(c) A person shall provide the following, in respect of the ready to pour concrete in respect of which a claim is made under subsection (1), with the form prescribed under paragraph (a):

(i) the invoices or other documents, issued or given to the specified person for the purposes of Chapter 2 of Part 9 of the Value-Added Tax Consolidation Act 2010, in respect of each first supply;

(ii) the document issued under section 531AAH(3) or record made under section 531AAH(4), as the case may be, in respect of each such first supply.

(d) If requested to do so by the Revenue Commissioners, a person shall produce such documentary evidence as is necessary to verify to the satisfaction of the Revenue Commissioners that the ready to pour concrete in respect of which a claim is made was used in the manufacture of precast concrete products.

(4) A refund under subsection (2) shall not be made unless the claim is made within four calendar months of the end of the accounting period referred to in that subsection.

(5) A person who—

(a) makes a claim, under this section, for a refund in respect of ready to pour concrete which was not used in the manufacture of precast concrete products, or

(b) makes an incorrect or fraudulent claim under this section, shall be liable—

(i) to a penalty not exceeding €4,000 for each such claim, and

(ii) to pay to the Revenue Commissioners an amount equal to the amount the person received as a refund.

(6) A claim under subsection (1) shall be made only in respect of outlay involving a total amount of more than €125.

(7) A person shall, without prejudice to any other penalty to which the person may be liable, be guilty of an offence under this section if the person—

(a) knowingly or wilfully delivers any incorrect claim or statement, or knowingly or wilfully furnishes any incorrect information, in connection with the operation of this section or a claim under subsection (1) in relation to any person, or

(b) knowingly aids, abets, assists, incites, or induces another person to make or deliver knowingly or wilfully any incorrect claim or statement, or knowingly or wilfully furnish any incorrect information in connection with the operation of this section or a claim under subsection (1) in relation to any person,

(8) Any amount payable by the Revenue Commissioners to a specified person by virtue of this section shall be deemed to be an overpayment of tax, for the purposes of section 960H(2).

(9) (a) Where a Revenue officer determines that a person is liable under subsection (5), the Revenue officer shall notify the person in writing accordingly.

(c) The reference to the Tax Acts in paragraph (a) of the definition of ‘Acts’ in section 949A shall be read as including a reference to this section.”,

(d) in section 531AAK(2)—

(i) in paragraph (a), by the deletion of “and”,

(ii) in paragraph (b), by the substitution of “period,” for “period.”, and

(iii) by the insertion of the following paragraphs after paragraph (b):

“(c) the sum of the open market values, on the supply dates, of supplies of ready to pour concrete supplied by the chargeable person, and in respect of which a declaration under section 531AAJA was made, in the accounting period, and

(d) the number of specified persons that made a declaration under section 531AAJA in the accounting period in respect of ready to pour concrete supplied by the chargeable person.”,

(e) in section 531AAM—

(i) by the insertion of the following subsections after subsection (1):

“(1A) Any amount payable by a person under section 531AAJA(7)(b) shall carry interest from the supply date of the ready to pour concrete in respect of which the declaration concerned was made until payment for any day or part of a day during which the amount remains unpaid, at a rate of 0.0219 per cent.

(1B) Any amount payable by a person under section 531AAJB(5)(ii) shall carry interest from the date the refund concerned was paid to the person until payment for any day or part of a day during which the amount remains unpaid, at a rate of 0.0219 per cent.”,

and

(ii) in subsection (2), by the substitution of “subsections (1), (1A) and (1B)” for “subsection (1)”,

(f) in section 531AAN—

(i) by the substitution of the following subsection for subsection (1):

“(1) Chargeable persons and specified persons shall retain, or cause to be retained on behalf of the chargeable person or the specified person concerned, such records and linking documents as are required to enable a full and true return, claim or declaration to be made for the purposes of this Part.”,

(ii) in subsection (2)—

(I) in paragraph (b), by the deletion of “and”,

(II) in paragraph (c), by the substitution of “supply,” for “supply.”, and

(III) by the insertion of the following paragraphs after paragraph (c):

“(d) where applicable, a declaration made for the purposes of section 531AAJA(1), and

(e) where applicable, the documentary evidence that ready to pour concrete was used in the manufacture of precast concrete products in respect of which a declaration under section 531AAJA or a claim under section 531AAJB, as the case may be, was made.”,

(iii) in subsection (3), by the substitution of “this Part” for “this section”,

(iv) in subsection (4)—

(I) by the substitution of “the chargeable person or the specified person, as the case may be,” for “the chargeable person”, and

(II) by the substitution of “a return, claim or declaration, as the case may be,” for “a return”,

(v) in subsection (5), by the substitution of “the chargeable person or the specified person, as the case may be,” for “the chargeable person”, and

(vi) in subsection (6)—

(I) by the substitution of “a chargeable person or a specified person” for “a chargeable person”, and

(II) by the substitution of “the chargeable person or the specified person, as the case may be” for “the chargeable person”,

and

(g) in Schedule 29, by the insertion of “section 531AAK” after “section 531AF” in column (1).

94. Implementation of Council Directive (EU) 2022/2523 of 15 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union

94. The Principal Act is amended by the insertion of the following Part after section 111:

“PART 4A

IMPLEMENTATION OF COUNCIL DIRECTIVE (EU) 2022/2523 OF 15 DECEMBER 2022 ON ENSURING A GLOBAL MINIMUM LEVEL OF TAXATION FOR MULTINATIONAL ENTERPRISE GROUPS AND LARGE-SCALE DOMESTIC GROUPS IN THE UNION

CHAPTER 1

Interpretation and general (Part 4A)

Interpretation (Part 4A)

111A. (1) In this Part—

‘acceptable financial accounting standard’ means International Financial Reporting Standards and the generally accepted accounting principles of Australia, Brazil, Canada, a Member State, an EEA state, Hong-Kong (China), Japan, Mexico, New-Zealand, the People’s Republic of China, the Republic of India, the Republic of Korea, Russia, Singapore, Switzerland, the United Kingdom and the United States of America;

‘the Acts’ means the Tax Acts and the Capital Gains Tax Acts;

‘adjusted covered taxes’ has the meaning assigned to it in section 111U;

‘authorised financial accounting standard’ means, in respect of an entity, a set of generally acceptable accounting principles permitted by an authorised accounting body in the jurisdiction where that entity is located, where that authorised accounting body has legal authority in that jurisdiction to prescribe, establish or accept accounting standards for financial reporting purposes;

‘consolidated financial statements’ means—

(a) the financial statements prepared by an entity in accordance with an acceptable financial accounting standard, in which the assets, liabilities, income, expenses and cash flows of that entity, and of any entities in which it has a controlling interest are presented as those of a single economic unit,

(b) the financial statements of a group to which paragraph (b) of the definition in this subsection of ‘group’ applies prepared by an entity in accordance with an acceptable financial accounting standard,

(c) where an ultimate parent entity has prepared financial statements described in paragraphs (a) or (b), that are not prepared in accordance with an acceptable financial accounting standard, the financial statements of the ultimate parent entity that have been subsequently adjusted to prevent any material competitive distortions, and

(d) where an ultimate parent entity does not prepare financial statements as described in paragraph (a), (b) or (c), the financial statements that would have been prepared if the ultimate parent entity were required to prepare such financial statements in accordance with—

(i) an acceptable financial accounting standard, or

(ii) another financial accounting standard, provided such financial statements have been adjusted to prevent any material competitive distortions;

‘consolidated revenue test’ has the meaning assigned to it in section 111C;

‘consolidated revenue threshold’—

(a) in respect of a fiscal year of 12 months, means €750,000,000,

(b) in respect of a fiscal year which is less than 12 months, the amount referred to in paragraph (a) shall be decreased pro rata, and

(c) in respect of a fiscal year which is greater than 12 months, the amount referred to in paragraph (a) shall be increased pro rata;

‘constituent entity’ means—

(a) an entity that is a member of an MNE group or of a large-scale domestic group, or

(b) any permanent establishment of a main entity that is a member of an MNE group referred to in paragraph (a),

but does not include an entity that is an excluded entity within the meaning of section 111C;

‘constituent entity-owner’ means a constituent entity that owns, directly or indirectly, an ownership interest in another constituent entity of the same MNE group or the same large-scale domestic group;

‘controlled foreign company tax regime’ means a set of tax rules, other than a qualified IIR, under which an entity with a direct or indirect ownership interest in another entity which is not tax resident in the same jurisdiction as the first mentioned entity, or the main entity of a permanent establishment, is subject to taxation on its share of part or all of the income earned by that other entity or permanent establishment, irrespective of whether that income is distributed to the first mentioned entity;

‘controlling interest’ means an ownership interest in an entity whereby the interest holder—

(a) is required to consolidate the assets, liabilities, income, expenses and cash flows of the entity on a line-by-line basis, in accordance with an acceptable financial accounting standard, or

(b) would have been required to consolidate the assets, liabilities, income, expenses and cash flows of the entity on a line-by-line basis if the interest holder had prepared consolidated financial statements;

‘covered taxes’ has the meaning assigned to it in section 111T;

‘deferred tax expense’ means the amount of the net movement in the deferred tax assets and deferred tax liabilities of a constituent entity between the beginning and end of the fiscal year;

‘designated filing entity’ means the constituent entity, other than the ultimate parent entity, that has been appointed by the MNE group or large-scale domestic group to fulfil the filing obligations set out in section 111AAI on behalf of the MNE group or the large-scale domestic group;

‘Directive’ means Council Directive 2022/2523 of 15 December 2022[^29] on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union;

‘disqualified refundable imputation tax’ means any tax, other than a qualified imputation tax, accrued, or paid by a constituent entity that is—

(a) refundable to the beneficial owner of a dividend distributed by such constituent entity in respect of that dividend or creditable by the beneficial owner against a tax liability other than a tax liability in respect of such dividend, or

(b) refundable to the distributing company upon distribution of a dividend to a shareholder;

‘domestic top-up tax’ means a tax arising pursuant to section 111AAC;

‘EEA Agreement’ means the Agreement on the European Economic Area signed at Oporto on 2 May 1992 as adjusted by all subsequent amendments to that Agreement;

‘EEA state’ means a state which is a contracting party to the EEA Agreement;

‘eligible distribution tax system’ means a corporate income tax system that—

(a) imposes income tax on profits only when those profits are distributed or deemed to be distributed to shareholders, or when the company incurs certain non-business expenses,

(b) imposes tax at a rate equal to, or in excess of, the minimum tax rate, and

(a) any legal arrangement of whatever nature or form that prepares separate financial accounts, or

(b) any legal person other than an individual,

but does not include central, state or local government, or their administration or agencies that carry out government functions;

‘excluded entities’ has the meaning assigned to it in section 111C;

‘financial accounting net income or loss’ means the net income or loss determined for a constituent entity in preparing consolidated financial statements of the ultimate parent entity for a fiscal year before any consolidation adjustments eliminating intra-group transactions;

‘filing constituent entity’ means an entity filing a top-up tax information return in accordance with section 111AAI;

‘fiscal year’ means—

(a) the accounting period in respect of which the ultimate parent entity of an MNE group or of a large-scale domestic group prepares its consolidated financial statements, or

(b) if the ultimate parent entity does not prepare consolidated financial statements, the calendar year;

‘flow-through entity’ means an entity to the extent that it is fiscally transparent with respect to its income, expenditure, profit or loss in the jurisdiction where it was created unless it is tax resident and subject to a covered tax on its income or profit in another jurisdiction;

‘governmental entity’ means an entity that meets all of the following criteria—

(a) it is part of, or wholly-owned by, a government (including any political subdivision or local authority thereof),

(b) it does not carry on a trade or business (other than that of carrying out the activities referred to in subparagraph (ii)) and has the principal purpose of—

(i) fulfilling a government function, or

(ii) managing or investing that government’s or jurisdiction’s assets through the making and holding of investments, asset management, and related investment activities for that government’s or jurisdiction’s assets,

(c) it is accountable to a government on its overall performance, and provides annual information reporting to that government, and

(d) its assets vest in a government upon dissolution and, to the extent that it distributes net earnings, such net earnings are distributed solely to that government with no portion of its net earnings inuring to the benefit of any private person;

‘group’ means—

(a) all entities which are related through ownership or control for the purpose of the preparation of consolidated financial statements by the ultimate parent entity, including any entity that is excluded from the consolidated financial statements of the ultimate parent entity solely based on its small size, on materiality grounds, or on the grounds that it is held for sale, or

(b) an entity that has one or more permanent establishments, provided that the entity is not part of another group referred to in paragraph (a);

‘hybrid entity’ means an entity not treated as fiscally transparent in the jurisdiction where it is located but as fiscally transparent in the jurisdiction in which its owner is located;

‘income inclusion rule’ means the rules laid down in the Directive or, as regarding third country jurisdictions, the OECD Model Rules in accordance with which the parent entity of an MNE group or of a large-scale domestic group calculates and pays its allocable share of top-up tax in respect of the low-taxed constituent entities of that group;

‘IIR’ means the income inclusion rule;

‘IIR top-up tax’ means a tax arising pursuant to subsection (1) or (2) of section 111E, subsection (1) or (2) of section 111F, subsection (1) or (2) of section 111G or subsection (1) or (2) of section 111H, as the case may be;

‘insurance investment entity’ means an entity that would meet the definition in this subsection of an ‘investment fund’ or a ‘real estate investment vehicle’, if it had not been established in relation to liabilities under an insurance or annuity contract and if it were not wholly owned by an entity that is subject to regulation in the jurisdiction where it is located as an insurance company;

‘intermediate parent entity’ means a constituent entity that—

(a) owns, directly or indirectly, an ownership interest in another constituent entity in the same MNE group or large-scale domestic group, and

(b) is not an ultimate parent entity, a partially-owned parent entity, a permanent establishment or an investment entity;

‘International Financial Reporting Standards’ means International Financial Reporting Standards as adopted by the Union pursuant to Regulation (EC) No. 1606/2002 of the European Parliament and of the Council of 19 July 2002[^30] on the application of international accounting standards;

‘international organisation’ means an intergovernmental organisation, including a supranational organisation, or wholly-owned agency or instrumentality thereof, that—

(a) is comprised primarily of governments,

(b) has in effect a headquarters or substantially similar agreement with the jurisdiction in which it is established, such as arrangements that entitle the organisation’s offices or establishments in that jurisdiction to privileges and immunities, and

‘investment entity’ means—

(a) an investment fund or a real estate investment vehicle,

(b) an entity that is at least 95 per cent owned directly by an entity referred to in paragraph (a) or through a chain of such entities and that operates exclusively or almost exclusively to hold assets or invest funds for their benefit,

(c) an entity where a minimum of 85 per cent of its value is owned by an entity referred to in paragraph (a), provided that substantially all of its income is derived from dividends or equity gains or losses that are excluded from the calculation of the qualifying income or loss for the purposes of this Part, or

(d) an insurance investment entity;

‘investment fund’ means an entity or arrangement that—

(a) is designed to pool financial or non-financial assets from a number of investors, some of which are not connected,

(b) invests in accordance with a defined investment policy,

(d) has as its main purpose the generation of investment income or gains, or protection against a particular or general event or outcome,

(e) its investors have a right to return from the assets of the fund or income earned on those assets, based on the contribution they made,

(f) is, or its management is, subject to the regulatory regime, including appropriate anti-money laundering and investor protection regulation for investment funds in the jurisdiction in which it is established or managed, and

(g) is managed by investment fund management professionals on behalf of the investors;

‘joint venture’, ‘joint venture affiliate’ and ‘joint venture group’ have the meaning assigned to them, respectively, in section 111AO;

‘large-scale domestic group’ means a group of which all constituent entities are located in the same Member State and ‘member of a large-scale domestic group’ shall be construed accordingly;

‘local tangible assets’ means immovable property located in the same jurisdiction as the constituent entity and that jurisdiction shall be referred to in this Part as the ‘local tangible asset jurisdiction’;

‘low-tax jurisdiction’ means, in respect of an MNE group or of a large-scale domestic group in any fiscal year, a Member State or a third country jurisdiction in which the MNE group or the large-scale domestic group has qualifying income and is subject to an effective tax rate which is lower than the minimum tax rate;

‘low-taxed constituent entity’ means—

(a) a constituent entity of an MNE group or large-scale domestic group that is located in a low-tax jurisdiction, or

(b) a stateless constituent entity that, in respect of a fiscal year, has qualifying income and an effective tax rate which is lower than the minimum tax rate;

‘main entity’ means an entity that includes the financial accounting net income or loss of a permanent establishment in its financial statements;

‘marketable transferable tax credit’ has the meaning assigned to it in section 111V;

‘material competitive distortion’ means, in respect of the application of a specific principle or procedure under a set of generally acceptable accounting principles, an application that results in an aggregate variation of income or expense of more than €75,000,000 in a fiscal year as compared to the amount that would have been determined by applying the corresponding principle or procedure under International Financial Reporting Standards;

‘Member State’ means a member state of the European Union; ‘minimum tax rate’ means 15 per cent;

‘MNE’ means multinational enterprise;

‘MNE group’ means a group that includes at least one entity or permanent establishment which is not located in the jurisdiction of the ultimate parent entity and ‘member of an MNE group’ shall be construed accordingly;

‘net book value of tangible assets’ means the average of the beginning and end values of tangible assets after taking into account accumulated depreciation, depletion and impairment, as recorded in the financial statements;

‘non-marketable transferable tax credit’ has the meaning assigned to it in section 111V;

‘non-profit organisation’ means an entity that meets all of the following criteria—

(a) it is established and operated in its jurisdiction of residence—

(i) exclusively for religious, charitable, scientific, artistic, cultural, athletic, educational or other similar purposes, or

(ii) as a professional organisation, business league, chamber of commerce, labour organisation, agricultural or horticultural organisation, civil league or an organisation operated exclusively for the promotion of social welfare,

(b) substantially all the income from the activities mentioned in paragraph (a) is exempt from income tax in its jurisdiction of residence,

(d) the income or assets of the entity may not be distributed to, or applied for the benefit of, a private person or non-charitable entity other than—

(i) pursuant to the conduct of the entity’s charitable activities,

(ii) as payment of reasonable compensation for services rendered or for the use of property or capital, or

(iii) as payment representing the fair market value of property which the entity has purchased,

(e) upon termination, liquidation or dissolution of the entity, all of its assets are to be distributed or revert to a non-profit organisation or to the government (including any government entity) of the entity’s jurisdiction of residence or any political subdivision thereof, and

(f) it does not carry on a trade or business that is not directly related to the purposes for which it was established;

‘non-qualified refundable tax credit’ means a tax credit that is not a qualified refundable tax credit but that is refundable in whole or in part;

‘OECD Model Rules’ means the document entitled OECD (2021), Tax Challenges Arising from the Digitalisation of the Economy Global Anti-Base Erosion Model Rules (Pillar Two): Inclusive Framework on BEPS, OECD/G20 Base Erosion and Profit Shifting, OECD Publishing, Paris, approved on 14 December 2021 by the OECD/G20 Inclusive Framework on BEPS;

‘OECD Model Tax Convention on Income and Capital’ means the Model Tax Convention on Income and on Capital as published by the OECD on 21 November 2017;

‘ownership interest’ means any equity interest that carries rights to the profits, capital or reserves of an entity or of a permanent establishment;

‘parent entity’ means—

(a) an ultimate parent entity which is not an excluded entity,

(b) an intermediate parent entity, or

‘partially-owned parent entity’ means a constituent entity—

(a) that owns, directly or indirectly, an ownership interest in another constituent entity of the same MNE group or large-scale domestic group,

(b) for which more than 20 per cent of the ownership interest in its profits is held, directly or indirectly, by one or several persons that are not constituent entities of that MNE group or large-scale domestic group, and

‘pension fund’ means—

(a) an entity that is established and operated in a jurisdiction exclusively or almost exclusively to administer or provide retirement benefits and ancillary or incidental benefits to individuals where—

(i) that entity is regulated by that jurisdiction or one of its political subdivisions or local authorities, or

(ii) those benefits are secured or otherwise protected by national regulations and funded by a pool of assets held through a fiduciary arrangement or trustor to secure the fulfilment of the corresponding pension obligations against a case of insolvency of the MNE group or large-scale domestic group,

(b) a pension services entity;

‘pension services entity’ means an entity that is established and operated exclusively or almost exclusively to invest funds for the benefit of an entity referred to in paragraph (a) of the definition in this subsection of ‘pension fund’, or to carry out activities that are ancillary to the regulated activities referred to in the said paragraph (a), where the pension services entity forms part of the same group as the entities carrying out those regulated activities;

‘permanent establishment’ means—

(a) a place of business or a deemed place of business located in a jurisdiction where it is treated as a permanent establishment in accordance with a tax treaty provided that such jurisdiction taxes the income attributable to it, that income being attributable to it in accordance with a provision drafted in a like manner to Article 7 of the OECD Model Tax Convention on Income and Capital,

(b) if there is no applicable tax treaty, a place of business or a deemed place of business located in a jurisdiction which taxes the income attributable to such place of business on a net basis in a manner similar to which it taxes its own tax residents,

(c) if a jurisdiction has no corporate income tax system, a place of business or a deemed place of business located therein that would be treated as a permanent establishment in accordance with the OECD Model Tax Convention on Income and Capital, provided that such jurisdiction would have had the right to tax the income that would have been attributable to the place of business in accordance with Article 7 of that Convention, or

(d) a place of business or a deemed place of business, that is not referred to in paragraph (a), (b) or (c), through which operations are conducted outside the jurisdiction where the entity is located if such jurisdiction exempts the income attributable to such operations;

‘qualified domestic top-up tax’ means a top-up tax that is implemented in the domestic law of a jurisdiction, provided that such jurisdiction does not provide any benefits that are related to those rules, and that—

(a) provides for the determination of the excess profits of the constituent entities located in that jurisdiction in accordance with the rules laid down in the Directive or, as regards third country jurisdictions, the OECD Model Rules, and the application of the minimum tax rate to those excess profits for the jurisdiction and the constituent entities in accordance with the rules laid down in the Directive or, as regards third country jurisdictions, the OECD Model Rules, and

(b) is administered in a way that is consistent with the rules laid down in the Directive or, as regards third country jurisdictions, the OECD Model Rules;

‘qualified domestic top-up tax payable’ means the amount accrued by the constituent entities in a jurisdiction in respect of qualified domestic top-up tax for a fiscal year, except that such amount shall not include any amount of qualified domestic top-up tax that—

(a) the MNE group or large-scale domestic group directly or indirectly challenges in a judicial or administrative proceeding, or

(b) the tax authority of the jurisdiction has determined is not assessable or collectible,

based on—

(i) constitutional grounds,

(ii) other superior law, or

(iii) a specific agreement with the government of the qualified domestic top-up tax jurisdiction limiting the MNE group’s or large-scale domestic group’s tax liability, such as a tax stabilisation agreement, investment agreement or similar agreement;

‘qualified IIR’ means a set of rules implemented in the domestic law of a jurisdiction, provided that such jurisdiction does not provide any benefits that are related to those rules, and that is—

(a) equivalent to the rules laid down in the Directive or, as regarding third country jurisdictions, the OECD Model Rules in accordance with which the parent entity of an MNE group or of a large-scale domestic group calculates and pays its allocable share of top-up tax in respect of the low-taxed constituent entities of that group, and

(b) administered in a way that is consistent with the rules laid down in the Directive or, as regards third country jurisdictions, the OECD Model Rules;

‘qualified imputation tax’ shall be construed in accordance with subsection (6);

‘qualified refundable tax credit’ means—

(a) a refundable tax credit that is designed such that it is to be paid as a cash payment or a cash equivalent to a constituent entity within 4 years from the date when the constituent entity is entitled to receive the refundable tax credit under the laws of the jurisdiction granting the credit, or

(b) if the tax credit is refundable in part, the portion of the refundable tax credit that is payable as a cash payment or a cash equivalent to a constituent entity within 4 years from the date when the constituent entity is entitled to receive the partial refundable tax credit,

and shall not include any amount of tax creditable or refundable pursuant to a qualified imputation tax or a disqualified refundable imputation tax;

‘qualified UTPR’ means a set of rules implemented in the domestic law of a jurisdiction, provided that such jurisdiction does not provide any benefits that are related to those rules, and that is—

(a) equivalent to the rules laid down in the Directive or, as regards third country jurisdictions, the OECD Model Rules, in accordance with which a jurisdiction collects its allocable share of top-up tax of an MNE group that was not charged under the qualified IIR in respect of the low-taxed constituent entities of that MNE group, and

(b) administered in a way that is consistent with the rules laid down in the Directive or, as regards third country jurisdictions, the OECD Model Rules;

‘qualifying competent authority agreement’ means a bilateral or multilateral agreement or arrangement between two or more competent authorities that provides for the automatic exchange of top-up tax information returns;

‘qualifying entity’ shall be construed in accordance with section 111AAB;

‘qualifying income or loss’ has the meaning assigned to it in section 111O(1);

‘real estate investment vehicle’ means a widely held entity that—

(a) holds predominantly immovable property, and

(b) is subject to a tax system which is designed to achieve a single level of taxation on the income, gains or profits of the entity, either at the level of the entity or at the level of its interest holders, with the deferral of taxation on such income, gains or profits either at the level of the entity or at the level of its interest holders being no more than one year from the end of the accounting period in which the income, profits or gains arise;

‘stateless constituent entity’ means a constituent entity to which subsection (3)(b), (4)(d) or (6)(d)(i) of section 111D applies;

‘substance-based income exclusion amount’ shall be construed in accordance with section 111AE(2)(a);

‘tax treaty’ means an agreement for the avoidance of double taxation with respect to taxes on income and on capital;

‘third country jurisdiction’ means a jurisdiction that is not a Member State;

‘top-up tax’ means the top-up tax calculated for a jurisdiction or a constituent entity pursuant to section 111AD;

‘ultimate parent entity’ means—

(a) an entity that owns, directly or indirectly, a controlling interest in any other entity and that is not owned, directly or indirectly, by another entity with a controlling interest in it, or

(b) the main entity of a group referred to in paragraph (b) of the definition in this subsection of ‘group’;

‘undertaxed profit rule’ means the rules laid down in the Directive or, as regards third country jurisdictions, the OECD Model Rules, in accordance with which a jurisdiction collects its allocable share of top-up tax of an MNE group that was not charged under the qualified IIR in respect of the low-taxed constituent entities of that MNE group;

‘UTPR’ means the undertaxed profit rule;

‘UTPR top-up tax’ means a tax arising pursuant to section 111L(1), 111M(1) or 111AZ(1), as the case may be.

(2) For the purposes of this Part, a person or entity is connected with another person or entity if they are closely related within the meaning of Article 5(8) of the OECD Model Tax Convention on Income and Capital.

(3) For the purposes of this Part, an entity is fiscally transparent where its income, expenditure, profit or loss is treated by the laws of a jurisdiction as if it were derived or incurred by the direct owner of that entity in proportion to its interest in that entity.

(4) For the purpose of the definition of ‘controlling interest’ in subsection (1), a main entity is deemed to hold the controlling interests of its permanent establishment.

(5) For the purposes of this Part—

(a) a flow-through entity shall be—

(i) a tax transparent entity with respect to its income, expenditure, profit or loss to the extent that it is fiscally transparent in the jurisdiction in which its owner is located, and

(ii) a reverse hybrid entity with respect to its income, expenditure, profit or loss to the extent that it is not fiscally transparent in the jurisdiction in which its owner is located,

(b) an ownership interest in an entity or a permanent establishment that is a constituent entity shall be treated as held through a tax transparent structure if that ownership interest is held indirectly through a chain of tax transparent entities, and

(i) is not tax resident in any jurisdiction, and

(ii) is not subject to a covered tax or a qualified domestic top-up tax based on its place of management, place of creation or similar criteria,

shall be treated as a flow-through entity and a tax transparent entity in respect of its income, expenditure, profit or loss, to the extent that—

(I) its owners are located in a jurisdiction that treats the entity as fiscally transparent,

(II) it does not have a place of business in the jurisdiction where it was created, and

(III) its income, expenditure, profit or loss is not attributable to a permanent establishment.

(6) (a) In this Part, ‘qualified imputation tax’ means a covered tax accrued or paid by a constituent entity, including a permanent establishment, that is refundable or creditable to the beneficial owner of the dividend distributed by the constituent entity or, in the case of a covered tax accrued or paid by a permanent establishment, a dividend distributed by the main entity, to the extent that the refund is payable, or the credit is provided—

(i) by a jurisdiction other than the jurisdiction which imposed the covered taxes,

(ii) to a beneficial owner of the dividend that is subject to tax at a nominal rate that equals or exceeds the minimum tax rate on the dividend received under the domestic law of the jurisdiction which imposed the covered taxes on the constituent entity,

(iii) to an individual who is the beneficial owner of the dividend and tax resident in the jurisdiction which imposed the covered taxes on the constituent entity and who is subject to tax at a nominal rate that equals or exceeds the standard tax rate applicable to ordinary income, or

(iv) to a governmental entity, an international organisation, a resident non-profit organisation, a resident pension fund, a resident investment entity that is not part of an MNE group or of a large-scale domestic group, or a resident life insurance company to the extent that the dividend is received in connection with resident pension fund activities and is subject to tax in a similar manner as a dividend received by a pension fund.

(b) For the purposes of paragraph (a)—

(i) a non-profit organisation or pension fund is resident in a jurisdiction if it is created and managed in that jurisdiction,

(ii) an investment entity is resident in a jurisdiction if it is created and regulated in that jurisdiction, and

(iii) a life insurance company is resident in the jurisdiction in which it is located.

(7) A word or expression which is used in this Part and is also used in the Directive has, unless the context otherwise requires, the same meaning in this Part as it has in the Directive.

Principles for construing rules in accordance with OECD Pillar Two guidance

111B. (1) In this section—

‘Minister’ means the Minister for Finance; ‘OECD Pillar Two guidance’ means—

(a) the document entitled OECD (2022), Tax Challenges Arising from the Digitalisation of the Economy Commentary to the Global Anti-Base Erosion Model Rules (Pillar Two), First Edition: Inclusive Framework on BEPS, OECD Publishing, Paris published by the OECD on 14 March 2022,

(b) the document entitled OECD (2022), Tax Challenges Arising from the Digitalisation of the Economy Global Anti-Base Erosion Model Rules (Pillar Two) Examples, OECD, Paris published by the OECD on 14 March 2022,

(c) the document entitled OECD (2022), Safe Harbours and Penalty Relief: Global Anti-Base Erosion Rules (Pillar Two), OECD/G20 Inclusive Framework on BEPS, OECD, Paris published by the OECD on 20 December 2022,

(d) the document entitled OECD (2023), Tax Challenges Arising from the Digitalisation of the Economy Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two), OECD/G20 Inclusive Framework on BEPS, OECD, Paris published by the OECD on 2 February 2023,

(e) the document entitled OECD (2023), Tax Challenges Arising from the Digitalisation of the Economy Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two), OECD/G20 Inclusive Framework on BEPS, OECD, Paris published by the OECD on 17 July 2023,

(f) the document entitled OECD (2023), Tax Challenges Arising from the Digitalisation of the Economy GloBE Information Return (Pillar Two), OECD/G20 Inclusive Framework on BEPS, OECD, Paris published by the OECD on 17 July 2023, and

(g) such additional subsequent guidance published by the OECD, as may be designated by order made under subsection (3) by the Minister for the purposes of this Part.

(2) For the purpose of calculating and administering, in respect of any fiscal year or accounting period, IIR top-up tax, UTPR top-up tax or domestic top-up tax for a constituent entity or qualifying entity, as the case may be, this Part shall be construed so as to ensure, as far as practicable, consistency between the following:

(a) the effect which is to be given to this Part;

(b) the effect which would be given if the OECD Model Rules were to be applied, in accordance with the OECD Pillar Two guidance, to the calculation and administration of those taxes, for a constituent entity or qualifying entity, as the case may be, for a fiscal year or an accounting period,

other than where such an application of this section would be inconsistent with the Directive.

(3) The Minister may, for the purposes of this Part, by order designate any additional subsequent guidance referred to in paragraph (g) of the definition in subsection (1) of ‘OECD Pillar Two guidance’ as being comprised in the OECD Pillar Two guidance.

(4) Every order made by the Minister under subsection (3) shall be laid before Dáil Éireann as soon as may be after it is made and, if a resolution annulling the order is passed by Dáil Éireann within the next 21 days on which Dáil Éireann has sat after the order is laid before it, the order shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

Scope of Part 4A

111C. (1) Subject to subsection (2) and section 111AL, this Part shall apply for a fiscal year to constituent entities, located in the State, that are members of an MNE group or of a large-scale domestic group, where the following condition (in this Part referred to as ‘the consolidated revenue test’) is satisfied, namely, the revenue of the group (including that of any excluded entities within the meaning of subsection (2)) recorded in the group’s consolidated financial statements is no less than the consolidated revenue threshold for at least 2 of the 4 fiscal years immediately preceding that fiscal year.

(2) Subject to subsection (3), this Part shall not apply to the following entities (in this Part referred to as ‘excluded entities’):

(a) an entity which is—

(i) a governmental entity,

(ii) an international organisation,

(iii) a non-profit organisation,

(iv) a pension fund,

(v) an investment fund that is an ultimate parent entity, or

(vi) a real estate investment vehicle that is an ultimate parent entity;

(b) an entity where at least 95 per cent of the value of that entity is owned by one or more entities referred to in paragraph (a), directly or through one or more excluded entities, other than a pension services entity, that—

(i) operates exclusively, or almost exclusively, to hold assets or invest funds for the benefit of the entities referred to in paragraph (a), or

(ii) exclusively carries out activities ancillary to those performed by the entities referred to in paragraph (a);

(c) an entity where at least 85 per cent of the value of that entity is owned, directly or through one or more excluded entities, by one or more entities referred to in paragraph (a) other than a pension services entity, provided that substantially all of the income of the entity is derived from dividends or equity gains or losses that are excluded from the calculation of qualifying income or loss to which paragraph (b) or (c) of section 111P(2) applies.

(3) A member of a group that would otherwise be an excluded entity, by virtue of paragraph (b) or (c) of subsection (2), shall not be an excluded entity where a filing constituent entity makes an election, in accordance with section 111AAAD, that the entity is not to be an excluded entity.

(4) Nothing in the Acts shall prevent an entity or permanent establishment from being chargeable to IIR top-up tax, UTPR top-up tax or domestic top-up tax, as the case may be, under this Part.

Location of constituent entity

111D. (1) Subject to subsections (2) to (9), an entity, other than a flow-through entity, shall for the purposes of this Part, be located in the jurisdiction where it is considered to be resident for tax purposes based on its place of management, its place of creation or similar criteria.

(2) Where it is not possible to determine the location of an entity, other than a flow-through entity, based on where it is considered to be a tax resident in accordance with subsection (1), the entity shall be deemed to be located in the jurisdiction where it was created.

(3) (a) Where a constituent entity is a flow-through entity and that constituent entity is—

(i) an ultimate parent entity of an MNE group or of a large-scale domestic group, or

(ii) required to apply a qualified IIR,

then, that constituent entity shall be located in the jurisdiction where it was created.

(b) Where a constituent entity is a flow-through entity and paragraph

(a) does not apply, the constituent entity shall be considered to be stateless.

(4) Where a constituent entity is a permanent establishment referred to in—

(a) paragraph (a) of the definition in section 111A of ‘permanent establishment’, it shall be deemed to be located in the jurisdiction where it is treated as a permanent establishment and liable to tax under a tax treaty,

(b) paragraph (b) of the definition in section 111A of ‘permanent establishment’, it shall be deemed to be located in the jurisdiction where it is subject to income taxation based on its business presence,

(c) paragraph (c) of the definition in section 111A of ‘permanent establishment’, it shall be deemed to be located in the jurisdiction where it is situated, or

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Finance (No. 2) Act 2023

PART 6 Miscellaneous

82. Interpretation (Part 6)

83. Amendment of section 895 of Principal Act (returns in relation to foreign accounts)

84. Amendment of section 3 of Principal Act (Interpretation of Income Tax Acts)

85. Amendment of section 92 of Finance Act 1989

86. Amendment of Part 38 of Principal Act (returns of income and gains, other obligations, etc.)

87. Administrative cooperation

88. Implementation of Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation in relation to joint audits

89. Amendment of references to credit institutions in certain provisions of Principal Act

90. Amendment of Part 22B of Principal Act (vacant homes tax)

91. Amendment of section 1003 of Principal Act (payment of tax by means of donation of heritage items)

92. Residential zoned land tax

93. Amendment of Part 18E of Principal Act (defective concrete products levy)

94. Implementation of Council Directive (EU) 2022/2523 of 15 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union

CHAPTER 1

82. **Interpretation (Part 6)**