Taxes Consolidation Act 1997 Schedule 24 paragraph 9C

Credit for tax suffered by Irish branch of foreign company

Paragraph 9C entitles an Irish branch of a company resident in another EU or EEA Member State to claim credit for foreign tax on the same basis as an Irish resident company.

• A "relevant company" is one that is not resident in Ireland, is tax-resident in another EU or EEA Member State, and carries on a trade in Ireland through a branch or agency.
• "Relevant tax" is foreign tax paid on the income or chargeable gains of the Irish branch, but excludes tax paid in the country in which the company is resident.
• The relevant company is entitled, for each accounting period, to the same double taxation relief under Schedule 24 as would have been available if the Irish branch had been a separate Irish resident company.
• The effect is to ensure that Irish branches of EU and EEA companies are not placed at a disadvantage compared with Irish resident companies when claiming credit for third-country taxes.