Tax relief on borrowing costs for Irish tax purposes is a complex area of law, available in a variety of circumstances and subject to a myriad of conditions. Whether it is allowable as a trading expense, a rental expense or a charge on income, the complexity of and conditions attaching to tax relief on borrowings have been the subject of discussion and development in prior Finance Acts. This complexity is unlikely to be resolved any time soon, as with the introduction of the interest limitation rules (ILR) in Finance Act 2021, a new player has entered the game.
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