Taxes Consolidation Act 1997 section 241

Income tax on payments by non-resident companies

Section 241 requires non-resident companies within the charge to Irish corporation tax to make returns of payments from which income tax has been deducted, and treats that income tax as part of their corporation tax liability.

• The section applies to non-resident companies that are within the charge to corporation tax and are required to account to Revenue for payments made under deduction of income tax
• Such companies must make a return to the inspector of all payments made under deduction of tax (including yearly interest) and the amount of tax deducted from those payments
• The income tax deducted is treated as if it were corporation tax for the accounting period, meaning it falls within the normal corporation tax rules for charge, assessment, collection, recovery, interest and penalties
• Because the income tax is treated as corporation tax, the company must include this liability when calculating and paying its preliminary tax under the self-assessment system