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AI Summary of 778. Exceptions to charge to tax under section 777.

Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 30 November 1997 - onwards

778. Exceptions to charge to tax under section 777.

(1) Neither subsection (1) nor subsection (2) of section 777 shall apply where the retirement benefits scheme in question is -

(a) an approved scheme,

(b) a statutory scheme, or

(c) a scheme set up by a Government outside the State for the benefit, or primarily for the benefit, of its employees.

(2) Neither subsection (1) nor subsection (2) of section 777 shall apply for any year of assessment where apart from those subsections the employee is under the Income Tax Acts either not assessable to income tax in respect of the emoluments of his or her employment or is so assessable in respect of those emoluments on the basis of the amount received in the State.