Taxes Consolidation Act 1997 section 218A

Certain income of Motor Insurers Bureau of Ireland

Section 218A exempts from corporation tax the investment income arising to the Motor Insurers' Bureau of Ireland from moneys paid to the Motor Insurers' Insolvency Compensation Fund.

• Investment income earned by the Motor Insurers' Bureau of Ireland on moneys from the Motor Insurers' Insolvency Compensation Fund is exempt from corporation tax.
• The exemption applies to income that would otherwise be taxable under Case III or Case IV of Schedule D.
• The moneys invested are those paid to the Fund under the Insurance Act 1964, as amended by the Insurance (Amendment) Act 2018.
• The exemption overrides any other provision of the Corporation Tax Acts that might otherwise apply.