Deduction (Income from Employment)

L.N. 358 of 2024

INCOME TAX ACT

(CAP. 123)

Deduction (Income from Employment)

(Amendment No. 2) Rules, 2024

IN EXERCISE of the powers conferred by articles 14(2) and 96

of the Income Tax Act, the Minister responsible for finance has made

the following rules:-

(1) The title of these rules is the Deduction (Income from

commencement.

Employment) (Amendment No. 2) Rules, 2024 and these rules shall be

read and construed as one with the Deduction (Income from

Employment) Rules, hereinafter referred to as the "principal rules".

(2) These rules shall apply with effect from the year of

assessment 2026.

In paragraph (a) of rule 2 of the principal rules the words

"does not exceed eleven thousand six hundred and twenty euro

(€11,620)" shall be substituted by the words "does not exceed twelve

thousand and fifty euro (€12,050)".

Rule 3 of the principal rules shall be amended as follows

(a)

in sub-rule (1) thereof the words "nine thousand one

hundred euro (€9,100)" shall be substituted by the words "twelve

thousand euro (€12,000)"; and

(b)

sub-rule (2) thereof shall be deleted.

€0.09