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Ireland: Modified Rules for Royalty Payments to Non-Residents
11/14/2016
Ireland has modified a statement of practice on the payment of royalties under a license agreement. Under certain circumstances, such payments may enjoy tax deduction relief when distributed to a foreign company.
Previously, an advance clearance from the Irish Tax Authority was required in order to obtain such a relief. However, under the new practice, royalty payments made on or after October 18, 2016, will only require a notification. This notification must be done each accounting year in which relevant royalty payments are made.
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