Taxes Consolidation Act 1997 section 508A

Statement of qualification by qualifying company

Section 508A requires a qualifying company under the Employment Investment Incentive Scheme (EIIS) to issue a statement of qualification to each qualifying investor, or to the managers of a designated fund or qualifying investment fund, in respect of a qualifying investment.

• A statement of qualification is a formal declaration by the company that it is a qualifying company and that the investment is a qualifying investment within the meaning of section 496.
• The statement must include prescribed details about the company, the share issue, the investor (or fund), and the amount of the investment that qualifies for relief after any reductions required by EIIS legislation.
• The statement must be in the form directed by Revenue, contain any other information Revenue may reasonably require, and include a declaration that it is a statement of qualification made under this section.
• A statement of qualification cannot be issued after 31 December in the year of assessment following the year of assessment in which the shares were issued.