Revenue eBrief No. 258/24
18 October 2024
Part 16-00-02 Relief for Investments in Corporate Trades
Tax and Duty Manual Part 16-00-02 - Relief for Investments in Corporate Trades - has been updated to reflect changes to the Employment Investment Incentive (“EII”), Start-Up Relief for Entrepreneurs (“SURE”) and Start-Up Capital Incentive (“SCI”) under Part 16 of the Taxes Consolidation Act 1997 (TCA). The changes reflect the revision of Regulation (EU) No 651/2014, known as the State Aid General Block Exemption Regulation (“GBER”) and the amendments made to Part 16 TCA by Finance (No.2) Act 2023.
The main updates are to the following sections:
- Section 2 - by the insertion of a new section 2.6 on investments from 1 January 2024
- Section 4 - by the insertion of new section 4.4.1 on Rate of Relief and new section 4.4.2 on the calculation of the deduction from income for investments made from 1 January 2024
- Section 7.1 - in respect of eligible shares issued on or after 1 January 2024
- Section 8.2.1 - in relation to the age of the RICT group
- Sections 9.2, 9.3 and 9.4 - in relation to initial, follow-on and expansion risk finance investment
- Section 10 - to reflect the limit on the amount that can be raised under Part 16 that applies from 1 January 2024.