Ireland releases guidance on qualifying avoidance disclosures

Irish Tax and Customs on January 30 released guidance on qualifying avoidance disclosures under Section 811A(2A) Taxes Consolidation Act 1997. Under the provisions, if full disclosure is made to Revenue of a tax avoidance transaction by June 30, the section 811A  10% or 20% surcharge will be waived and interest will be reduced by 20%.

Further guidance on what constitutes a tax avoidance transaction is provided in the Tax Avoidance Settlement Incentive Manual.

See:

• Revenue eBrief No. 16/15

• Tax Avoidance Settlement Incentive Manual