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Minister Donohoe publishes Finance Bill 2017

The Government has today published Finance Bill 2017. 

Finance Bill 2017 contains 78 sections, the majority of which implement the changes announced on Budget Day together with a limited number of additional anti-avoidance measures and largely technical changes which are deemed to be important for the effective care and maintenance of the tax system.

The Bill provides for the reductions in the USC and an increase to the ceiling of the band on which the reduced 2% rate of USC will be payable, increases in the income rate standard rate bands, the increases in the home carer tax credit and the earned income tax credit. The Bill also contains details of the tapered extension to the mortgage interest relief as well as a tax measure to encourage owners of vacant residential property to bring that property into the rental market. It also provides for the increase in the excise duty on cigarettes by 50 cent as well as the introduction of a tax on sugar-sweetened drinks.

Aligned with the Budget Day announcement, the Bill also provides for a broader housing supply measure through amending the seven-year Capital Gains Tax exemption so as to allow the owners of land and buildings purchased between 7 December 2011 and 31 December 2014 to enjoy a full CGT relief if they have owned the land for at least four years and for no more than seven.

Commenting on the publication of the Finance Bill today, Finance Minister Paschal Donohoe said:

Today’s publication of the Finance Bill 2017 provides the necessary legislative foundation for implementing the tax measures announced on Budget Day. In line with our commitment to Budgetary reform, it has been published as soon as possible after Budget Day. It now moves forward to be debated in the Dáil and Seanad and I anticipate a constructive discussion on the Bill over the coming weeks with my parliamentary colleagues.

Read the full press release here.


Finance Bill 2017
Finance Bill 2017 – Explanatory Memo
Finance Bill 2017 – Appendix: List of Items
Finance Bill 2017 – Notes for Editors