Childcare costs for children under 6: the tax reduction becomes a 25% tax credit

Article 88 of the 2005 Finance Act repeals the tax reduction of Article 199 quater D and creates Article 200 quater B of the General Tax Code: childcare costs for children under six (approved childminder, crèche or childcare facility) give a 25% credit on up to €2,300 per child (half for shared custody), refunded when it exceeds the tax due. The conditions on both spouses working are removed. It applies from the taxation of 2005 income.