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Amendment of section 121A of Principal Act (benefit of use of van)
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25. Section 121A(2)(b) of the Principal Act is amended—
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(a) in subparagraph (vii)—
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(i) in clause (IV), by the substitution of “subject to subparagraph (viii), €20,000” for “€20,000”, and
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(ii) in clause (V), by the substitution of “subject to subparagraph (viii), €10,000” for “€10,000”,
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and
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(b) in subparagraph (viii)—
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(i) by the substitution of “each of the years of assessment 2023 to 2028 (both years inclusive)” for “the years of assessment 2023, 2024 and 2025”,
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(ii) in clause (I)—
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(I) by the substitution of “clause (I), (II), (III), (IV) or (V)” for “clause (I), (II) or (III)”,
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(II) in subclause (A), by the substitution of “clause (I), (II), (III), (IV) or (V)” for “clause (I), (II) or (III)”, and
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(III) by the substitution of the following subclause for subclause (B):
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“(B) €10,000 for each of the years of assessment 2023 to 2026 (both years inclusive), €5,000 for the year of assessment 2027 and €2,500 for the year of assessment 2028,”,
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and
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(iii) in clause (II), by the substitution of “an amount ascertained under clause (I) (B)” for “€10,000”.
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