Section 2 of the Waiver of Certain Tax, Interest and Penalties Act, 1993 provides for what is commonly referred to as "the incentive amnesty" or "the 15 per cent amnesty". This amnesty covers certain income and chargeable capital gains of individuals for the period up to 5 April, 1991 where the tax, or any part of the tax, due in respect of such income and gains has not been paid. Thus, it extends to both undisclosed liabilities to income tax and capital gains tax and to arrears of such taxes already on record.
Tax which, on 24 May, 1993 was the subject of enforcement through sheriff action, court proceedings or the power of attachment is excluded from the incentive amnesty.