Leasing
20/11/1996
Query
Where a rebate of rentals arises in respect of leasing charges which have been restricted under section 373 TCA 1997, whether Revenue assesses the full amount of the rebate.
Decision
The amount of a rebate of rentals represents a return of leasing charges already allowed for tax purposes. Where a rebate of rentals arises in respect of leasing charges which have been restricted under section 373, Revenue will seek to assess only the proportion of the rebate which has been allowed for tax purposes to the lessee.
Income Tax
Section 373, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT962518