Finance Act 2022

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Amendment of section 118 of Principal Act (benefits in kind: general charging provision)

8. Section 118 of the Principal Act is amended in subsection (5G)—

(a) in paragraph (b), by the insertion of the following definition:

“‘cargo bicycle’ means a bicycle with a special purpose frame which has been designed to carry large or heavy loads, or passengers other than the rider, by means of a bulk storage capacity container or platform integrated into, or affixed to, the frame of the bicycle, in front of or behind the rider;”,

and

(b) by the insertion of the following paragraph after paragraph (d):

“(e) Notwithstanding paragraphs (a) and (d), where the expense or part thereof, as the case may be, is in connection with the provision of a cargo bicycle, the amount referred to in paragraph (a) shall be €3,000.”.