Taxes Consolidation Act 1997 section 207A

Charities Regulatory Authority and Common Investment Fund

Section 207A exempts the Charities Regulatory Authority from income tax on the income of the Common Investment Fund, which was vested in the Authority on its establishment.

• The Common Investment Fund was originally established by the Commissioners of Charitable Donations and Bequests for Ireland in 1985 and was vested in the Charities Regulatory Authority on 1 October 2014.
• When the Authority was established, the Commissioners were dissolved and their functions, including responsibility for the Fund, transferred to the Authority under the Charities Act 2009.
• The Authority is deemed to have claimed and been granted charitable tax exemption under section 207 in respect of the Fund's income, even though it cannot qualify for such exemption in its own right.
• This deemed exemption ensures continuity of the tax-free treatment that applied when the Fund was held by the Commissioners.