The Government has published the 2017 Finance Bill containing 78 sections, the majority of which implement the changes announced in Budget 2018.

It provides for the reductions in the USC and an increase to the ceiling of the band on which the reduced 2% rate of USC will be payable, increases in the income rate standard rate bands, the increases in the home carer tax credit and the earned income tax credit.


New measures included in Finance Bill 2017


The bill also contains details of the tapered extension to the mortgage interest relief, as well as a tax measure to encourage owners of vacant residential property to bring that property into the rental market.

In addition, the bill provides for the increase in the excise duty on cigarettes by 50 cent, as well as the introduction of a tax on sugar-sweetened drinks.

Minister for Finance Paschal Donohoe said the Finance Bill "provides the necessary legislative foundation for implementing the tax measures announced on Budget Day".

The bill will now move forward for debate in the Dáil and Seanad.

Sinn Féin Finance Spokesperson Pearse Doherty said the bill contains "major flaws which will need to be addressed".

Mr Doherty pointed to the "lack of any action on a five-year Dividend Withholding Tax for international funds" as well as the lack of "retrospective action on the 80% cap on capital allowances that can be written off by multinationals".