TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Distributions out of certain profits and income

Revenue Tax and Duty Manuals have been updated to deal with the withdrawal of tax exemptions for certain income in recent years.

The exemptions of certain profits derived from stallion fees (section 231 Taxes Consolidation Act (TCA) 1997), stud greyhound services (section 233 TCA 97), and income from patent royalties (section 141 TCA 97) are no longer available.

A paragraph has been inserted in Manual Part 06-04-02 to bring attention to the fact that the exemptions referred to in the manual may not be of current relevance.

Manual Part 06-06-01 refers to section 154 TCA 1997, which allows for certain distributions to be attributed to certain accounting periods has been updated to note that some of the income sources mentioned are no longer treated as being exempt.