Taxes Consolidation Act 1997 section 372AW

Interpretation, applications for approval and certification

Section 372AW defines key terms used in Chapter 12 and sets out the approval and certification requirements for mid-Shannon tourism infrastructure relief, together with limits on expenditure relating to accommodation buildings.

• Mid-Shannon relief applies to capital expenditure on the construction or refurbishment of qualifying tourism infrastructure facilities within the mid-Shannon corridor, incurred between 1 June 2008 and 31 May 2015.
• No relief is available unless the mid-Shannon Tourism Infrastructure Board has granted advance approval in principle and, after completion, certified in writing that the work complied with the relevant guidelines; an application for approval must be received by the Board within four years of the Chapter's commencement.
• The Minister for Arts, Sport and Tourism, in consultation with the Minister for Finance, must issue guidelines covering matters such as tourism contribution, environmental sensitivity, planning compliance, design standards, and the extent to which accommodation buildings may be included in a project.
• Expenditure on accommodation buildings may not be approved or certified to the extent it exceeds the limit amount, being the lower of 50% of total project expenditure or the expenditure on non-accommodation buildings; where multiple accommodation buildings are involved, any excess is reduced to the limit amount and apportioned on a just and reasonable basis.