Taxes Consolidation Act, 1997 (Number 39 of 1997)
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848Z Tax credits.
(1) A tax credit in relation to a pension subscription shall not exceed €2,500.
(2) An individual, who is entitled to a tax credit in relation to his or her pension subscription, shall be entitled to be credited, in accordance with the provisions of this Part and not under any other provision of the Tax Acts, with a further amount (in this Part referred to as an “additional tax credit”).
(3) The amount of the additional tax credit shall be determined by the formula—
(A × C) |
|
B |
where—
A is the maturity tax in relation to the individual’s account,
B is the net funds, in relation to the individual’s account, and
C is the amount of the pension subscription.
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