Finance Act, 1973

Payments to universities.

21.—(1) Where a person carrying on a trade or profession—

(a) pays, on or after the 6th day of April, 1973, any sum to an Irish university for the purpose of enabling the university to undertake research in, or engage in the teaching of, approved subjects, and

(b) the sum so paid is not income to which section 439 of the Income Tax Act, 1967 , applies,

the sum so paid shall, if not otherwise so deductible, be deducted as an expense in computing the profits or gains of the person's trade or profession.

(2) For the purposes of this section, “approved subjects” means—

(a) industrial relations,

(b) marketing, and

(c) any other subject which is approved for the purposes of this section by the Minister for Finance.