Amendments have been made to the Qualifying Employment in Aviation (Personal Tax) Rules through Legal Notice 1 of 2017.
The Qualifying Employment in Aviation (Personal Tax) Rules provide for a 15% tax rate benefit for eligible individuals’ income derived from qualified employment in the aviation sector. This tax benefit is open to European Union, European Economic Area, and Swiss nationals, as well as third country citizens. EU, EEA and Swiss nationals may benefit from the 15% tax rate for a consecutive period of five years, whilst third country citizens may benefit from such rate for a consecutive period of four years. These periods are known as the ‘qualifying periods’.
Legal Notice 1 of 2017 has extended these qualifying periods by allowing for an extension of a further five and four year period respectively. These extensions may be applied for even if the applicant has not as yet availed himself of the tax benefit at the time of his application for extension. The total benefit period cannot exceed a consecutive period of ten years commencing from the year preceding the first year of assessment in which the individual is first liable to taxation under the Income Tax Act.
For further details please email email@example.com