Specified Collective Investment Undertakings
19/04/1996
Query
Would the take-over of a foreign fund, with Irish resident investors, by an SCIU prejudice the tax exempt status of the SCIU?
Decision
No, provided the Irish investors are removed from the fund within 3 months of the date of the take-over.
Income Tax
Section 734, Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:2577/93
13/08/1997
Query
Would the holding of units by an Irish resident nominee company on behalf of non-residents prejudice the exempt status of the SCIU?
Decision
No, provided the nominee company is in the business of holding shares in a nominee capacity and advance approval is received from the Revenue Commissioners.
Income Tax
Section 734, Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:1579/89