Revenue has published a Statement of Practice in relation to Foreign Branch Double Taxation Relief which may be of particular interest to members with clients in the insurance sector.

The statement addresses an issue that particularly affects the insurance industry, relating to double tax relief for foreign tax paid by foreign branches of Irish companies and will come into effect as respects foreign tax paid for periods commencing on or after 1 January 2013.

The statement is now available on the Revenue Website at Tax Practitioners – Legislation – Statements of Practice.