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Fisher tax credit
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6. (1) The Principal Act is amended by inserting the following after section 472B:
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“Fisher tax credit
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472BA. (1) In this section—
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‘aquaculture animal’ means an aquatic animal at all its life stages, including eggs, sperm and gametes, reared in a farm or mollusc farming area, including an aquatic animal from the wild intended for a farm or mollusc farming area;
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‘day at sea’ means a cumulative period of 8 hours within any 24 hour period during which the fisher undertakes fishing voyages;
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‘fisher’ means any person engaging in fishing on board a fishing vessel;
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‘fishing vessel’ means a vessel which is—
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(a) registered on the European Community Fishing Fleet Register in accordance with Commission Regulation (EC) No. 26/2004 of 30 December 20031
, and
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(b) is used solely for the purposes of sea-fishing,
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but does not include a vessel that is engaged in fishing or dredging solely for scientific, research or training purposes;
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‘fishing voyage’ means a fishing trip commencing with a departure from a port for the purpose of fishing, and ending with the first return to a port thereafter upon the conclusion of the trip, but a return due to distress only shall not be deemed to be a return if it is followed by a resumption of the trip;
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‘sea-fish’ means fish of any kind found in the sea, whether fresh or in other condition, including crustaceans and molluscs, but does not include salmon, fresh water eels or aquaculture animals;
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‘sea-fishing’ means fishing for or taking sea-fish.
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(2) Where for a year of assessment an individual to whom this section applies has spent not less than 80 days at sea actively engaged in sea-fishing, he or she shall be entitled to a tax credit (to be known as the ‘fisher tax credit’) of €1,270.
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(3) Where for a year of assessment an individual makes a claim under this section, relief shall not be given under section 472B for that year of assessment.
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(4) This section applies to an individual, resident in the State—
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(a) the profits or gains of whom in relation to their trade as a fisher are charged to tax under Schedule D, or
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(b) the emoluments of whom in relation to their employment as a fisher are charged to tax under Schedule E.”.
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(2) Subsection (1) applies for the year of assessment 2017 and each subsequent year of assessment.
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1OJ No. L5, 9.1.2004, p.25 |