Revenue eBrief No. 249/23
27 November 2023
Exemption of certain profits arising from production, maintenance and repair of certain musical instruments
Revenue has published a new Tax and Duty Manual Part 07-01-43 – Guidance on the exemption of certain profits arising from production, maintenance and repair of certain musical instruments.
Section 216F of the Taxes Consolidation Act 1997 provides for an exemption of up to €20,000 from income tax for certain profits from the production, maintenance and repair of certain musical instruments. The exemption is available to individuals who are chargeable to income tax in respect of profits arising from the production, maintenance and repair of the following:
- early Irish harps,
- Irish lever harps, and
- uilleann pipes.
This section does not exempt the income from PRSI and USC, which are chargeable in the usual manner.