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

Implement interest limitation rules sooner than 2024, warns Commission

The European Commission has served a formal notice on Ireland asking it implement interest limitation rules sooner than the planned date in 2024. Interest limitation rules are anti-avoidance tax rules that set a limit on the amount of interest a company can deduct for corporation tax purposes. These rules are required under the EU’s Anti-Tax Avoidance Directive or ATAD.

Ireland intended to delay implementing the rules until 2024 but the Commission disagrees with this approach. If Ireland does not act within the next two months, the Commission may send a reasoned opinion to the Irish authorities.