Fiona O'Loughlin
Question:155. Deputy Fiona O'Loughlin asked the Minister for Finance if an exemption for 2018 will be made under section 195 of the Taxes Consolidation Act 1997 for a person (details supplied). [31512/19]
View answerTuesday, 23 July 2019
Questions (155)
Written answers
I am advised by Revenue that section 195 of the Taxes Consolidation Act 1997 empowers Revenue to make a determination that certain artistic works are original and creative works generally recognised as having cultural or artistic merit. Where such a determination is made, the individual is entitled to an exemption from income tax on up to €50,000 of the profits or gains from the publication, production or sale of such works. Section 195(3)(b) provides that the exemption cannot apply for any year prior to the year in which the individual concerned makes a claim.
I am further advised by Revenue that the named individual first contacted Revenue seeking an exemption under section 195 on 25 January 2019. Revenue advised the individual on 5 February 2019 that his claim had been successful. As the individual’s claim was made in 2019, the exemption cannot apply for 2018.