S.L. 123.175 Art. 9Tax deductibility for the qualifying employer.

(1) A qualifying contribution made to a qualifying scheme which is reported to the Commissioner in accordance with the provisions of rule 11(2) shall be considered as approved by the Commissioner for the purposes of article 14(1) (e) of the Act.

(2) Provided that, for any year of assessment, the total deductions that can be claimed by the qualifying employer in terms of the provisions of article 14(1)(e) of the Act in respect of qualifying contributions, shall in respect of each qualifying employee amount to the lower of the qualifying contribution actually paid and two thousand euro (€2,000).