Sporting bodies and DIRT
23/07/1992
Query
Whether a sporting body entitled to exemption under section 235 TCA 1997 would be entitled to receive interest without deduction of tax on the basis of a declaration under section 265 TCA 1997
Decision
No; since the sporting body would not be within the charge to corporation tax in respect of the interest, Also, the body in question could not complete a declaration to the effect that the interest will be included in the profits of the company on which it will be charged to Corporation Tax, as required by section 265
Income Tax
Section 235, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT922034