Changes to the rules on getting an Irish tax deduction for interest payments
What has happened?
Amid the somewhat chaotic passing of the Finance Act in January 2011, treasurers may have missed a provision that could have significant consequences for the tax deductibility of intra-group interest payments.
When income tax was introduced to Ireland in 1853 one of the main deductions was for interest on borrowings. Originally, all interest payments made by a person or a company were tax deductible. Older readers ...Continue Reading »