S.I. No. 170/1975 - Income Tax (Employment) Regulations, 1975.


S.I. No. 170 of 1975.

INCOME TAX (EMPLOYMENT) REGULATIONS, 1975.

The Revenue Commissioners, in exercise of the powers conferred on them by section 127 of the Income Tax Act, 1967 (No. 6 of 1967), hereby make the following regulations:

1. These Regulations may be cited as the Income Tax (Employments) Regulations, 1975.

2. The reference to the standard rate in Regulation 49 (1) of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 ) inserted by the Income Tax (Employments) (No. 2) Regulations, 1960 ( S.I. No. 166 of 1960 ) shall, in respect of the standard rate of tax in relation to the year 1975-76, be construed as a reference to the standard rate increased by 10 per cent. of that rate.

GIVEN this 30th day of July, 1975.

J. F. RICHARDSON,

Revenue Commissioner.

EXPLANATORY NOTE.

These Regulations amend Regulation 49 (1) of the existing PAYE Regulations by providing that the reference therein to the "standard rate" is to mean, in relation to the year 1975-76, the standard rate for that year as increased by 10 per cent. The standard rate for 1975-76 was increased by 10 per cent. by the Finance (No. 2) Act, 1975 , in so far as it applied to individual taxpayers with taxable incomes exceeding £1,550. Regulation 49 authorises the deduction of tax under PAYE from the earnings of casual employees either at the reduced rate or at the standard rate as may be determined by the Inspector.