Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I move amendment No. 2:

In page 3, between lines 10 and 11, to insert the following: “Amendment of section 121A of Taxes Consolidation Act 1997

2.Section 121A of the Taxes Consolidation Act 1997 is amended, in subsection (2)(b)—

(a) in subparagraph (vi), by the substitution of “€50,000,” for “€50,000, and”,

(b) in subparagraph (vii)—

(i) in clause (I), by the insertion of “subject to subparagraph (viii),” before “€35,000”, and

(ii) in clause (III), by the substitution of “2025, and” for “2025.”,

and

(c) by the insertion of the following subparagraph after subparagraph (vii):

“(viii) the cash equivalent of the benefit of a van ascertained under subsection (3), for the year of assessment 2023, shall—

(I) where subparagraph (vii)(I) applies, be computed on the original market value of the van reduced by—

(A) the amount specified in subparagraph (vii)(I), and

(B) €10,000,

and

(II) in any other case, be computed on the original market value of the van reduced by €10,000.”.”.