Revenue has provided guidance on a scheme of tax relief for qualifying capital expenditure incurred on the construction and refurbishment of buildings or structures in use for the purposes of aviation services facilities in the State.

Chapter 1 of Part 9 TCA 1997 provides that accelerated capital allowances, at a rate of 15 per cent per annum over six years and 10 per cent in year seven are allowed for capital expenditure incurred in the five year period commencing on 13 October 2015 and ending on 12 October 2020. To comply with EU State Aid de minimis guidelines, there is a cap on the amount of expenditure which can be written off at the accelerated rate. The limits per project are €5 million for a company and €1.25 million for an individual. Capital expenditure which does not qualify for the accelerated allowances may qualify for capital allowances at the standard rate (4 per cent) provided it is incurred on or after 13 October 2015.

There are certain conditions that must be met and further details are provided in the Revenue Tax and Duty Manual.