Taxes Consolidation Act, 1997
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Payment to universities and other approved bodies for research in, or teaching of, approved subjects. [FA73 s21; FA85 s15] |
767.—(1) In this section— | |
“approved body” means— | ||
(a) the College of Industrial Relations, Ranelagh, Dublin, or | ||
(b) any of the following colleges established under the Vocational Education Act, 1930 — | ||
(i) colleges forming part of the Dublin Institute of Technology, | ||
(ii) the Limerick College of Art, Commerce and Technology, or | ||
(iii) regional technical colleges; | ||
“approved subject” means— | ||
(a) industrial relations, | ||
(b) marketing, or | ||
(c) any other subject which is approved for the purposes of this section by the Minister for Finance. | ||
(2) Where a person carrying on a trade or profession— | ||
(a) pays any sum to— | ||
(i) an Irish university, or | ||
(ii) an approved body, | ||
for the purpose of enabling the university or the approved body to undertake research in, or engage in the teaching of, an approved subject, and | ||
(b) the sum so paid is not income to which section 792 applies, | ||
the sum so paid shall, if not otherwise so deductible, be deducted as an expense in computing the profits or gains of the person's trade or profession. |