Subsidiaries & Control
15/02/1985
Query
A qualifying company can only have qualifying subsidiaries. Would the existence of non-qualifying subsidiaries, which are now dormant, disqualify the company?
Decision
No, provided the subsidiaries remained dormant.
Income Tax
Section 495 (10), Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:8085/84
25/03/1987
Query
If Udaras na Gaeltachta owns a majority of the shares in the company, mainly for the purpose of injecting capital into the company, would this offend this rule?
Decision
No. Udaras shares are akin to a loan.
Income Tax
Section 495 (10), Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:860/87A
25/12/1994
Query
Where it is not technically possible to organise a BES scheme because a company is a member of a group, would a hive-down of certain activities be allowed?
Decision
Yes, provided the Revenue Commissioners are satisfied that the hive-down is necessary because of technical difficulties with the BES and for no other reason and the company is a stand alone company after the BES share issue, and also provided there is no attempt to breach Section 491. File not available - issue included for completion of data base.
Income Tax
Section 495 (10), Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:NOT AVAILABLE