Taxes Consolidation Act 1997 section 790B

Exemption of cross-border scheme

Section 790B provides tax exemptions for cross-border occupational pension schemes established in the State that are authorised and approved to accept contributions from undertakings in other EU Member States or the United Kingdom.

• Income from investments, deposits, financial futures, traded options, and certain underwriting commissions of an authorised cross-border scheme is exempt from income tax.
• The scheme must be established in the State under irrevocable trusts and must have received both authorisation and approval from the Pensions Authority to operate cross-border.
• The exemptions apply only where Revenue is satisfied that the investments, deposits, or commissions are held or applied for the purposes of the scheme.
• Cross-border schemes are also treated as exempt approved schemes for the purposes of dividend withholding tax, deposit interest retention tax, and exit tax on investment undertakings.