Cap. 123 Art. 90BTax on overtime.

(1) With effect from 1 January 2020, income derived by an individual that represents qualifying overtime income shall be subject to tax at the rate of 15 cents on every euro.

*Applicable from year of assessment 2023. †Applicable from year of assessment 2021.

(2) Except where the individual deriving qualifying overtime income elects otherwise, the tax charged in accordance with sub-article

(1) shall be final and shall not be available as a credit or set off against the tax liability of any person or as a refund.

(3) The Minister may, by rules, prescribe:

(a) the circumstances in which, the limits up to which and the conditions under which, income shall represent qualifying overtime income for the purposes of this article; and

(b) the manner in which the election referred to in sub-article (2) shall be exercised.