Ireland’s Department of Finance is consulting stakeholders on new tax measures that would prevent double non-taxation arising from outbound payments to low or no tax jurisdictions.
The legislative measures would include withholding taxes on, or non-deductibility of, outbound payments. In the case of dividends, measures would include withholding taxes as dividends are non-deductible, to be completed by March 31, 2024.
The proposed new measures are intended to apply only to related parties. The tax measures would apply to outbound payments towards jurisdictions on the EU list of non-cooperative jurisdictions, no-tax, and zero-tax jurisdictions.
These tax measures would be introduced through Finance (No. 2) Bill 2023.
Comments must be received by August 8.