Revenue Note for Guidance

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Revenue Note for Guidance

22A Reduction of corporation tax liability in respect of certain trading income

[This section was deleted by section 54 and paragraph 3 of Schedule 1 to the Finance Act 2012.]

This section previously provided for a rate of 12½ per cent to apply to the trading income (other than trading income taxable at the 10 or 25 per cent rates) of a company where that trading income did not exceed €254,000 in a year. The measure was given by way of a reduction in corporation tax in order to arrive at a net effective rate of 12½ per cent. Where the trading income was between €254,000 and €317,500, marginal relief applied.

Relevant Date: Finance Act 2019