Interest treated as a distribution
01/07/1987
Query
Conflict in the treatment of interest which is treated as a distribution within the meaning of section 133 Taxes Consolidation Act, 1997 (s.84(2)(d)(iv), Corporation Tax Act, 1976) and interest which is treated as such for the purposes of a Double Taxation Convention
Decision
Where a conflict arises the Double Taxation Convention provisions will apply unless a claim to the contrary is made by the company.
Corporation Tax
Section 133, Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:IR 10407/339/95
11/03/1994
Query
Treatment of interest in accordance with section 133 of the Taxes Consolidation Act, 1997 (was s.84(2)(d)(iv) Corporation Tax Act, 1976) and the Ireland/Netherlands Double Taxation Convention
Decision
Interest paid to a Dutch parent company by its Irish subsidiary will be regarded as interest and will be allowed as trading expense to the paying company.
Corporation Tax
Section 133, Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:DTX 7008/94