Dara Calleary (Mayo, Fianna Fail)

Section 52 amends section 80A of the Taxes Consolidation Act 1997 so as to enable a leasing company engaged in the leasing of short-life assets by way of an operating lease to elect to be taxed on the accounting profit from these leases in certain circumstances. The amendment extends a similar tax treatment to operating leases as already applies for finance leases.