Taxes Consolidation Act 1997 Schedule 2B, paragraph 4

Declarations of investment undertakings

Schedule 2B, paragraph 4 sets out the requirements for a declaration by an investment undertaking to another investment undertaking, so that exit tax is not deducted from gains arising on units held by the declaring undertaking.

• Where one investment undertaking holds units in another, it may make a written declaration so that exit tax is not deducted from gains on those units.
• The declaration must be made and signed by the person entitled to the units (the "declarer") and must be in a form prescribed or authorised by the Revenue Commissioners.
• The declaration must state that the person entitled to the units is an investment undertaking at the time the declaration is made, and must include the undertaking's name and tax reference number.
• The declaration must also contain any other information that the Revenue Commissioners may reasonably require for the purposes of the investment undertaking tax regime under Chapter 1A of Part 27.