S.L. 123.167 Art. 2Tax rebate.

(1) Any person subject to tax under the Income Tax Act, hereinafter referred to as "the Act", shall be allowed a tax rebate in the circumstances established by these rules and in the amounts stipulated herein.

(2) In the case of a person chargeable to tax under the provisions of article 56(1)(a) of the Act and whose chargeable income for the year is higher than €28,700 but less than €28,860, a tax rebate shall be allowed as a set-off against the tax on his chargeable income, as follows:

Tax Rebate = €25,550 – (chargeable income less tax on such chargeable income).

(3) In the case of a person chargeable to tax under the provisions of article 56(1)(b) of the Act and whose chargeable income for the year is higher than €19,500 but less than €19,620, a tax rebate shall be allowed as a set-off against the tax on his chargeable income, as follows: Tax Rebate = €17,440 – (chargeable income less tax on such chargeable income).

(4) In the case of a person chargeable to tax under the provisions of the second proviso to article 56(1)(b) of the Act and whose chargeable income for the year is higher than €21,200 but less than €21,340, a tax rebate shall be allowed as a set-off against the tax on his chargeable income, as follows: Tax Rebate = €19,055 – (chargeable income less tax on such chargeable income).