Revenue eBrief No. 083/20
13 May 2020
Temporary measures in relation to the close company surcharge
The close company surcharges apply to income of close companies that is not distributed within 18 months from the end of the accounting period in which the income arose. In cases where a distribution is not made within that time in response to Covid-19 circumstances affecting the company, Revenue will, on application, extend the 18-month period for distributions by a further 9 months.
Tax and Duty Manual Part 13-02-05 has been amended to include reference to such extensions and the action to be taken on receipt of an application for an extension. Further detail is also available on the Revenue website.