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19 September 2016

Ireland announces proposed changes to 2016 Finance Bill S110 securitization regime

Ireland's Minister for Finance, Michael Noonan, has announced proposed changes to be made to the S110 securitization regime in Finance Bill 2016. The proposed changes affect S110 entities that invest in Irish land and Irish commercial or residential property. S110 entities that are not involved in Irish property backed transactions are unaffected. Profits or gains earned by Irish property backed S110s arising after September 6 will be subject to 25% Irish corporation tax with potentially significant restrictions to the amount of their tax deductible interest expense.

A Tax Alert prepared by EY's Global Tax Desk Network, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1572

Document ID: 2016-1572

 

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