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Amendment of section 121 of Principal Act (Benefit of use of car)
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7. Section 121 of the Principal Act is amended, in subsection (4A)—
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(a) in paragraph (aa)—
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(i) in subparagraph (ii), by the substitution of “subject to paragraph (ab), €35,000” for “€20,000”,
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(ii) in subparagraph (iii)—
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(I) by the substitution of “€35,000” for “€10,000”, and
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(II) by the substitution of “December 2025;” for “December 2025.”,
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and
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(iii) by the insertion of the following subparagraphs after subparagraph (iii):
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“(iv) €20,000 in respect of a car made available in the period 1 January 2026 to 31 December 2026;
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(v) €10,000 in respect of a car made available in the period 1 January 2027 to 31 December 2027.”,
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(b) in paragraph (ab)—
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(i) by the substitution of “years of assessment 2023 and 2024” for “year of assessment 2023”, and
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(ii) in subparagraph (i)—
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(I) by the substitution of “subparagraph (i) or (ii), as the case may be, of paragraph (aa)” for “paragraph (aa)(i)”, and
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(II) in clause (I), by the substitution of “subparagraph (i) or (ii), as the case may be, of paragraph (aa)” for “paragraph (aa)(i)”,
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and
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(c) in paragraph (ba), by the substitution of “years of assessment 2023 and 2024” for “year of assessment 2023”.
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