Finance Act 2019
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Amendment of section 99A of Finance Act 1999 (relief for qualifying road transport operators) | ||
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42. Section 99A of the Finance Act 1999 is amended by substituting the following for subsection (3): | ||
“(3) Subject to a maximum repayment rate of €75.00 per 1,000 litres, the amount to be repaid per 1,000 litres of gas oil under subsection (2) is determined— | ||
(a) where gas oil has been purchased before 1 January 2020, by the formula— | ||
A = (P - 1,000) x 0.3, | ||
or | ||
(b) where gas oil has been purchased on or after 1 January 2020— | ||
(i) when P is less than or equal to €1,070, by the formula— | ||
A = (P - 1,000) x 0.3, | ||
or | ||
(ii) when P is greater than €1,070, by the formula— | ||
A = 21 + [(P - 1,070) x 0.6], | ||
where— | ||
A is the amount to be repaid per 1,000 litres, and | ||
P is an estimate of the average price (exclusive of value-added tax) in euro per 1,000 litres of gas oil purchased by qualifying road transport operators during the repayment period, as determined in accordance with subsection (4).”. |