High Net Worth Individuals - EU/EEA/Swiss Nationals

L.N. 268 of 2014

INCOME TAX ACT

(CAP. 123)

High Net Worth Individuals - EU/EEA/Swiss Nationals

(Amendment) Rules, 2014

IN exercise of the powers conferred by articles 56(23) and 96 of

the Income Tax Act, the Minister for Finance has made the following

rules:-

(1) The title of these rules is the High Net Worth Citation and

Individuals – EU/EEA/Swiss Nationals (Amendment) Rules, 2014, commencement.

and these rules shall be read and construed as one with the High Net S.L. 123.129

Worth Individuals - EU/EEA/Swiss Nationals Rules, hereinafter

referred to as "the principal rules".

(2) These rules shall be deemed to have come into force with

effect from 1st July, 2013.

Rule 3 of the principal rules shall be amended as follows

Amends rule 3

of the principal

rules.

(a)

in sub-rule (1) thereof, for the words "that the

Minister may prescribe." there shall be substituted the words

"that the Minister may prescribe:", and immediately thereafter

there shall be added the following new proviso

"Provided that the Commissioner shall not receive

any applications for special tax status under these rules

after the date of publication of these rules.";

(b) in sub-rule (2) thereof, for the words "qualifies for

special tax status under these rules." there shall be substituted

the words "qualifies for special tax status under these rules:",

and immediately thereafter there shall be added the following

new proviso

"Provided that the Commissioner shall not issue

such determinations in writing after the date of publication

of these rules."; and

(c)

immediately after sub-rule (2) thereof, there shall be

added the following new sub-rule

"(3) A beneficiary in possession of special tax

status granted under these rules may request the

Commissioner to grant him special tax status under The

Residence Programme Rules, 2014. Upon receipt of such

request, the Commissioner shall issue a determination in

writing that such beneficiary has been granted special tax

status under The Residence Programme Rules, 2013. Such

a request is to be made through the services of an

authorised registered mandatary and shall make reference

to this rule

Provided that in those cases where an

application for special tax status has been made under

these rules, and the Commissioner had not yet issued a

determination in writing confirming such status as at the

date of publication of these rules, the applicant may

request the Commissioner to consider such an application

to have been made under The Residence Programme

Rules, 2013. Such a request is to be made through the

services of an authorised registered mandatary and shall

make reference to this rule.".

€0.18