Under s150 Finance Act 2010 a new part (Part 18C, s531AA to s531AK) was introduced to the Taxes Consolidation Act 1997 (TCA 1997) to provide for the domicile levy, which applies for 2010 and subsequent years. Individuals meeting certain criteria are subject to an annual levy of €200,000. Taxpayers and practitioners need to be mindful of this levy when filing income tax returns as the circumstances in which it can apply are much broader than one might initially expect.
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