Irish Tax and Customs on February 2 updated its tax and duty manual to reflect changes made in Finance Act 2017 that limit capital allowances for intangible assets plus deductions for related interest.
The changes are incorporated in the manual in Part 09-02-05.
Under the new rules, capital allowances for intangible assets brought onshore from October 11, 2017, may shelter up to 80 percent of income arising from assets that year.
Capital allowances attributed to intangible assets acquired before that date are subject to the old rules and are thus not capped.
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