Capital Alowances - industrial buildings
07/06/2000
Query
What is the manner of making industrial buildings allowances in respect of expenditure incurred on buildings situated outside the State.
Decision
Revenue is prepared to accept that industrial buildings allowances may be made in charging a person’s income under case III of Sch. D. If the amount of the allowance is greater than the person’s Case III income the excess may be offset against all other income.
Income Tax
Section 278, Taxes Consolidation Act, 1997
Origin: Office of the Chief Inspector of Taxes
File ref:00gm060