Taxes Consolidation Act 1997 section 739X

Application of this Chapter

Section 739X sets out the commencement date for the legislation relating to Irish real estate funds (IREFs).

  • The IREF rules apply to accounting periods commencing on or after 1 January 2017.
  • An anti-avoidance measure targets investment undertakings that changed their accounting period after 20 October 2016 to avoid the new rules.
  • Where such a change was made and the immediately preceding accounting period ended on or after 31 December 2015, the rules apply from 20 October 2016.
  • The effect is to prevent undertakings from manipulating accounting period end dates to defer the application of the IREF regime.

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