The High Court decision in Arlum Limited v The Revenue Commissioners [2024] IEHC 72 has provided significant clarification of the tax treatment of debt forgiveness under s87(1) of the Taxes Consolidation Act 1997 (TCA 1997). The case centred on whether a debt write-off constituted a taxable receipt for a company where the debt was incurred to purchase an asset that was subsequently written down for tax purposes.
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