Taxes Consolidation Act 1997 Schedule 24, paragraph 1

Double taxation relief - Interpretation

Paragraph 1 of Schedule 24 defines the key terms used throughout the Schedule, which provides double taxation relief by way of credit for foreign tax against Irish income tax and corporation tax.

• Schedule 24 governs the calculation of credit relief for foreign tax paid, whether under a double taxation agreement or by way of unilateral relief, against Irish income tax, income levy, universal social charge and corporation tax.
• "Foreign tax" covers tax chargeable under the laws of a treaty country for which credit is allowed under the treaty, or tax for which unilateral credit relief may be given under paragraph 9A(3) where no treaty exists.
• A "relevant Member State" means an EU Member State or an EEA State (Norway, Iceland or Liechtenstein) with which Ireland has a double taxation agreement in force.
• Any reference to foreign tax in the Schedule is limited to tax chargeable under the laws of the specific treaty country concerned — it does not extend to tax of any other country.