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Jan 15, 2025 | 
mondaq.com | Fintan Clancy |Orlaith Kane |David Kilty |Elaine Mooney
Our market-leading tax group provides high-value, fullycomprehensive and commercial advice to a wide range of domestic andinternational clients operating in all sectors of the Irisheconomy, either as part of the firm's wider legal practice orstand-alone guidance, based on our clients' needs. As we start a new year, we present a look back at the work,legal developments and team growth that kept us busy in 2024. Elaine Mooney has been elevated to thepartnership from 1 January 2025.
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Oct 16, 2024 | 
lexology.com | Fintan Clancy |Ailish Finnerty |David Kilty |Orlaith Kane |Mary Dineen
The Irish Finance Bill 2024 has been published. It contains the measures announced by the Irish Minister for Finance in his Budget speech on 2 October 2024, in addition to other changes to Irish tax legislation. The Finance Bill 2024 (the “Finance Bill”) has been published and completed the first Stage of the legislative process.
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Oct 14, 2024 | 
lexology.com | Fintan Clancy |Simon Hannigan |Kenneth Egan |Deirdre Barrett |Brian O’Rourke |Deirdre A. Sheehan | +4 more
The Finance Bill has brought some clarity to the application of the 6% “mansion tax” rate of stamp duty to residential property. The increased rate of stamp duty on bulk purchases of residential units has also been included in the Bill. Application of 6% rate to residential property The new 6% rate will apply to consideration over €1.5 million when the consideration is attributable to two or less apartments in an “apartment block” (one which has three or more apartments in it).
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Oct 10, 2024 | 
mondaq.com | Fintan Clancy |Mary Dineen |Ailish Finnerty |Orlaith Kane
The Irish High Court overturns the Determination of first tier
Tax Appeal Commissioner to conclude that that a Delaware LLC was
not "liable to tax" and therefore not
"resident" within Article 4 of the US/Ireland Double Tax
Treaty.Consequently, three Irish subsidiaries were not entitled to
rely on Irish group loss provisions or Article 25 of the US/Ireland
Double Tax Treaty.
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Oct 9, 2024 | 
lexology.com | Fintan Clancy |Mary Dineen |Ailish Finnerty |Orlaith Kane |David Kilty
The Irish High Court overturns the Determination of first tier Tax Appeal Commissioner to conclude that that a Delaware LLC was not “liable to tax” and therefore not “resident” within Article 4 of the US/Ireland Double Tax Treaty.Consequently, three Irish subsidiaries were not entitled to rely on Irish group loss provisions or Article 25 of the US/Ireland Double Tax Treaty.
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Oct 2, 2024 | 
lexology.com | Fintan Clancy |Ailish Finnerty |David Kilty |Orlaith Kane |Kenneth Egan |Brian O’Rourke | +4 more
As part of Budget 2025, the Minister for Finance announced two stamp duty rate increases that are effective from 2 October 2024. Rate IncreasesThe two stamp duty rate increases (the “New Measures”) are:An increase in the higher rate of stamp duty that applies on the “bulk purchase” of ten or more residential units (excluding apartments) in a twelve-month period from 10% to 15%. The introduction of a third rate of stamp duty on the sale of residential properties valued at more than €1.5 million.
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Sep 12, 2024 | 
lexology.com | Fintan Clancy |Ailish Finnerty |David Kilty |Orlaith Kane |Richard Ryan |Patrick Horan | +1 more
The Court of Justice of the European Union (CJEU), sitting as the Grand Chamber has handed down its judgment in the Apple case. In 2016 the European Commission concluded that Ireland granted illegal State aid to two Apple group subsidiaries in two tax rulings granted in 1991 and 2007. The General Court had annulled this Decision, but the CJEU has upheld the Commission Decision in full and given final judgment on the matter with no remittance back to the General Court and no ability to appeal.
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Jun 6, 2024 | 
lexology.com | Fintan Clancy |Ailish Finnerty |David Kilty |Orlaith Kane
The recently published Revenue Guidelines for Determining Employment Status for Taxation Purposes provide useful guidance as to the implications of the significant Supreme Court decision in the Domino’s Pizza case. BackgroundFor taxation purposes, there is a difference in treatment between employees and self-employed persons engaged as independent contractors.
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May 31, 2024 | 
lexology.com | Fintan Clancy |Ailish Finnerty |David Kilty |Orlaith Kane
The EU Directive on Faster and Safer Relief of Excess Withholding Taxes (the “FASTER Directive”) was approved at the May meeting of the Economic and Financial Affairs Council (“ECOFIN”). Agreement comes within one year of the proposal from the EU Commission. It is seen as another stepping stone to the Capital Markets Union.
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Mar 12, 2024 | 
mondaq.com | Fintan Clancy |Ailish Finnerty |David Kilty |Orlaith Kane
Arthur Cox LLP has made a submission to the Department of
Finance as part of the public consultation on the taxation of
share-based remuneration.
The targeted submission highlighted that share-based
remuneration will play an increasingly important part of the offer
by jurisdictions in attracting senior executives and key employees.
