Taxes Consolidation Act 1997 section 199

Interest on certain securities

Section 199 exempts from income tax the interest earned on securities issued by the Minister for Finance that are designed to be used in payment of income tax (tax reserve certificates).

• Tax reserve certificates are temporary investments for persons who wish to provide in advance for income tax payments
• A certificate, together with accrued interest, may be tendered in payment of income tax
• Interest on these certificates is exempt from income tax
• The interest is also excluded when computing total income for the purposes of the Income Tax Acts