In 2016, Ireland introduced a new withholding tax on distributions from Irish regulated funds which invest in Irish real estate (IREFs). The tax is calculated based on a formula set out in section 739L of the Taxes Consolidation Act 1997. The legislation introducing the changes describes the formula as (A x (B/C) - D). Unfortunately, in at least one legislative textbook, the formula is reprinted as (A x ((B-D)/C). This produces a different (and larger) tax liability. Perhaps it is a valuable illustration that in law, sometimes you need to go to the source, in order to find the truth.
https://www.passle.net/Content/Images/passle_logo-186px.png Passle https://passle.net
More posts by William Fogarty
Recent posts from Maples Thought Leadership
As a free user, you can follow Passle and like posts.
To repost this post to your own Passle blog, you will need to upgrade your account.
For plans and pricing, please contact our sales team at email@example.com