Linen
13/07/1994
Query
(1)Whether it is acceptable to reclassify as stocks rather than fixed assets linen used by companies providing a hiring and cleaning service in respect of linen; (2) Whether Sec. 288 applies to the reClassification as if it were a sale at the open market price;
Decision
(1) Yes. (2) Yes.
Corporation Tax
Section 288, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:CTF92/1005