Taxes Consolidation Act 1997 section 239

Income tax on payments by resident companies

Section 239 sets out how Irish resident companies must account for and pay income tax withheld from annual payments, and how they can claim relief for income tax deducted from payments they receive.

• Companies must file an annual payments return within nine months of the end of the accounting period, with the deadline being the 23rd day of the ninth month (for electronic filers)
• The net income tax on annual payments is treated as corporation tax and must be included in preliminary tax calculations
• Companies can offset income tax deducted from payments they receive against income tax due on payments they make in the same accounting period
• Revenue may make estimated assessments where returns are missing or unsatisfactory, with interest running from the date the tax should originally have been paid