Tax Rate (Construction Waste Recycling) (2020 - 2023)

L.N. 284 of 2020

INCOME TAX ACT

(CAP. 123)

Tax Rate (Construction Waste Recycling) (2020 - 2023)

(Amendment No. 2) Rules, 2020

IN EXERCISE of the powers conferred upon him by articles 12

(2) and 96 of the Income Tax Act, the Minister for Finance and

Financial Services has made the following rules:-

The title of these rules is the Tax Rate (Construction Waste

Recycling) (2020 - 2023) (Amendment No. 2) Rules, 2020, and these

rules shall be read and construed as one with the Tax Rate

(Construction Waste Recycling) (2020 - 2023) Rules, 2020, hereinafter

referred to as "the principal rules".

In the title of the principal rules, for the words "Tax Rate"

there shall be substituted the words "Tax Exemption".

In rule 1 of the principal rules, for the words "Tax Rate"

there shall be substituted the words "Tax Exemption".

For rule 3 of the principal rules there shall be substituted

the following

" Exemption

3. Income derived by an authorised person from

from tax on

qualifying services during a relevant year shall be exempt

income from

from the tax that would otherwise be chargeable on that

qualifying

services

income subject to the following conditions

(a) the income in question is declared in a tax

return filed in accordance with article 10 of the

Income Tax Management Act for the respective year

of assessment; and

(b) an amount of tax is paid equivalent to five

cents (€0.05) on every euro of that income ; and

(c) the tax on the chargeable income of the

authorised person for the respective year of

assessment shall be calculated at the rate or rates that

would apply if that income included also the income

exempted by these rules; and

(d) the authorised person produces such

documents or other evidence as the Commissioner

may require.".

€0.09