Section 50 of Finance Act 2024 introduces to Irish legislation a participation exemption for foreign dividends and other distributions through the enactment of a new s831B in Chapter 2 of Part 35 (Double taxation relief) of TCA 1997. This has been a highly anticipated and much welcomed development for Irish corporates with overseas interests, providing simplification of double taxation relief through a corporation tax exemption for qualifying foreign dividends and other distributions made on or after 1 January 2025.
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