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Amendment of section 195 of Principal Act (exemption of certain earnings of writers, composers and artists)
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5. Section 195 of the Principal Act is amended—
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(a) by substituting the following for subsection (1):
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“(1) In this section—
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‘EEA Agreement’ means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement;
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‘EEA state’ means a state which is a contracting party to the EEA Agreement;
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‘work’ means an original and creative work which is within one of the following categories:
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(a) a book or other writing;
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(b) a play;
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(c) a musical composition;
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(d) a painting or other like picture;
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(e) a sculpture.”,
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(b) in subsection (2)(a) by substituting the following for subparagraph (i):
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“(i) who is—
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(I) resident in one or more Member States, or in another EEA state, and not resident elsewhere, or
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(II) ordinarily resident and domiciled in one or more Member States, or in another EEA state, and not resident elsewhere, and”,
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and
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(c) in subsection (3)(aa) by substituting “shall not exceed €50,000 for the year of assessment 2015” for “shall not exceed €40,000 for the year of assessment 2011”.
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