Finance (No.2) Act 2023
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Amendment of Part 22B of Principal Act (vacant homes tax) | ||
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90. (1) The Principal Act is amended by the substitution of the following section for section 653AP: | ||
“Amount of vacant homes tax | ||
653AP. (1) The amount of vacant homes tax to be charged in respect of a residential property for the chargeable period commencing on 1 November 2022 shall be the amount represented by ‘A’ in the formula— | ||
A = B x 3 | ||
where ‘B’ is the amount of local property tax payable in respect of the residential property in relation to the liability date of 1 November 2022 calculated in accordance with section 17 of the Act of 2012 (before any adjustment is made in accordance with section 20 of that Act). | ||
(2) The amount of vacant homes tax to be charged in respect of a residential property for the chargeable period commencing on 1 November 2023 and for each subsequent chargeable period shall be the amount represented by ‘A’ in the formula— | ||
A = B x 5 | ||
where ‘B’ is the amount of local property tax payable in respect of the residential property in relation to the liability date falling in the year in which the chargeable period commences calculated in accordance with section 17 of the Act of 2012 (before any adjustment is made in accordance with section 20 of that Act).”. | ||
(2) Section 653BH of the Principal Act is amended by the substitution of the following subsection for subsection (2): | ||
“(2) Part 37 shall apply to vacant homes tax subject to the following modifications: | ||
(a) in sections 849, 861, 863, 864, 866, 872 and 874, a reference to income tax shall be construed as a reference to vacant homes tax; | ||
(b) in section 863, a reference to a year shall be construed as a reference to a chargeable period; | ||
(c) in sections 851, 852, 856, 860, 861, 862, 864, 867, 868, 869, 870, 873 and 874, a reference to the Tax Acts shall be construed as a reference to this Part; | ||
(d) in section 870, the reference to the Income Tax Acts shall be construed as a reference to this Part.”. | ||
(3) Section 653AN of the Principal Act is amended, in subsection (1), by the insertion of the following definition: | ||
“ ‘chartered engineer’ means a chartered engineer included on the register referred to in section 7 of The Institution of Civil Engineers of Ireland (Charter Amendment) Act, 1969 ;”. | ||
(4) Section 653BC of the Principal Act is amended, in paragraph (f)(i), by the insertion of “or chartered engineer” after “registered professional”. |