The deductibility of interest in Irish tax law has always been an area of focus for taxpayers and advisers, alike, with complex and nuanced rules applying subject to a range of conditions. Whether they are allowable as a trading expense, as a charge on income or as a rental expense, a core question for taxpayers has always been the correct treatment of interest expenses. The interest limitation rules (ILR) are another strand in the already complex area of interest deductibility. As 2024 comes to a close, it is worth considering how have the ILR changed since their introduction, and what are the areas of focus for companies subject to the ILR in future accounting periods?
To continue reading...
Members, students and subscribers of the Irish Tax Institute can login using your username and password.
For information on subscribing please contact info@taxinstitute.ie