Jurisdiction(s):
Ireland

Irish TAC: Royalty withholding taxes on gross income are allowable trading expenses; €28m deductions reinstated (47TACD2024)

Published on: 13 March 2024

Published by a Law360 reporter

Legal News

Article summary

The appeals commission, in its ruling of 13 December 2023, determined that the royalty levy was not a charge on profits and therefore represented a cost of carrying on business within the relevant jurisdiction. Consequently, it concluded the company ought not to have borne a €5m tax charge. The TAC withheld the appellant’s identity, describing it as a company incorporated in Ireland and resident for tax there. According to the decision, the company worked closely with licensees in other countries to distribute its products. Those licensees applied royalty withholding to sales proceeds, consistent with local withholding requirements. The company treated the amounts as a deductible business expense, contending...

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