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

Short-term leases of plant and machinery

Revenue has published a new Tax and Duty Manual on section 80A TCA 1997 which deals with the taxation of short-term leases of plant and machinery.

Section 80A TCA 1997 provides that a lessor may elect to have wear and tear allowances in respect of such assets with a life expectancy of less than 8 years computed on the basis of the accounting depreciation of the assets.

Further details are set out in Revenue eBrief No. 44/15.