Taxes Consolidation Act 1997 section 206

Income from investments under Social Welfare Consolidation Act 2005

Section 206 exempts from income tax any income derived by the Minister for Finance or the Minister for Social Protection from the two accounts of the Social Insurance Fund held under the Social Welfare Consolidation Act 2005.

• The Minister for Finance is exempt from tax on income derived from the Social Insurance Fund Investment Account held in the Central Bank.
• The Minister for Social Protection is exempt from tax on income derived from the Social Insurance Fund Current Account held with a commercial bank, including deposit interest and DIRT.
• The exemption for the Minister for Social Protection applies from 1 January 2015, having been introduced by section 21 of the Finance Act 2014.
• The section ensures that the State's management of Social Insurance Fund monies does not give rise to a tax liability, including DIRT on deposit interest.