Pensions (Tax Exemption) Rules, 2022

L.N. 98 of 2022

INCOME TAX ACT

(CAP. 123)

Pensions (Tax Exemption) Rules, 2022

IN EXERCISE of the powers conferred by articles 12(2) and 96

of the Income Tax Act, the Minister for Finance and Employment has

made the following rules:-

The title of these rules is the Pensions (Tax Exemption)

Rules, 2022.

In these rules, unless the context otherwise requires

"pensions income" means income to which the Tax Rebate

(Pensioners) Rules apply.

Pensions income derived by an individual on or after 1

January 2022 shall be partially or fully exempt from tax as follows

Amount exempt

Applicability of the

exemption

Twenty per cent (20%)

Pensions income derived

in the year immediately

preceding

the

year

of

assessment 2023

Forty per cent (40%)

Pensions income derived

in the year immediately

preceding

the

year

of

assessment 2024

Sixty per cent (60%)

Pensions income derived

in the year immediately

preceding

the

year

of

assessment 2025

Eighty per cent (80%)

Pensions income derived

in the year immediately

preceding

the

year

of

assessment 2026

One hundred per cent

Pensions income derived

(100%)

in the year immediately

preceding

the

year

of

assessment 2027 and in

subsequent years

€0.09