Taxes Consolidation Act 1997 section 224

Grants to medium and large industrial undertakings

Section 224 provides that certain employment grants paid to medium and large industrial undertakings by IDA Ireland or Údarás na Gaeltachta are exempt from tax.

• Employment grants made under specified schemes by Údarás na Gaeltachta or IDA Ireland to medium or large industrial undertakings are disregarded for tax purposes.
• The Údarás na Gaeltachta scheme is "Deontais Fhostaíochta ó Údarás na Gaeltachta do Ghnóthais Mhóra/Mheánmhéide Thionsclaíocha", authorised under section 10(5)(a) of the Údarás na Gaeltachta Act 1979.
• The IDA Ireland scheme is the "Scheme Governing the Making of Employment Grants to Medium/Large Industrial Undertakings", authorised under section 21(5)(a) of the Industrial Development Act 1986 (as amended).
• Grants falling within these schemes are completely disregarded for the purposes of the Tax Acts, meaning they are exempt from both income tax and PRSI.