S.I. No. 48/1999 - Taxes Consolidation Act, 1997 (Section 472B) (Commencement) Order, 1999

I, CHARLIE McCREEVY, Minister for Finance, in exercise of the powers conferred on me by Section 14 (2) of the Finance Act, 1998 (No. 3 of 1998), hereby order as follows:

1. This Order may be cited as the Taxes Consolidation Act, 1997 (Section 472B) (Commencement) Order, 1999.

2. The 17th day of February, 1999, is hereby fixed as the date on which section 472B (inserted by section 14 (1)(b) of the Finance Act, 1998 ) of the Taxes Consolidation Act, 1997 (No. 39 of 1997), shall come into operation.

EXPLANATORY NOTE.

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints the 17th day of February, 1999 as the date for the coming into operation of section 472B of the Taxes Consolidation Act, 1997 (inserted by Section 14 (1)(b) of the Finance Act, 1998 ). This section provides for a new annual tax allowance of £5,000 for seafarers who meet certain conditions.

Under Section 472B the new allowance is conditional on a seafarer being at sea on a voyage to or from a foreign port for at least 169 days in a tax year. A mobile or fixed installation in foreign waters may be treated as a foreign port for this purpose. It will not apply in any year in which a seafarer claims the foreign earnings deduction.