Taxes Consolidation Act 1997 Schedule 2B paragraph 9B

Declaration of Credit Union

Paragraph 9B of Schedule 2B sets out the requirements for a declaration by a credit union to an investment undertaking, so that exit tax is not deducted from gains arising on units held by the credit union.

• A credit union that holds units in an investment undertaking may make a written declaration under section 739D(6)(j) to ensure exit tax is not deducted from gains.
• The declaration must be made and signed by the person entitled to the units (the "declarer"), using a form prescribed or authorised by the Revenue Commissioners.
• The declaration must include the declarer's name and address and confirm that the person entitled to the units is, at the time of the declaration, a credit union.
• The declaration must also include any other information the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.