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Irish Revenue updates guidance on Transfer of Business Relief

  • Ireland
  • General


Irish Revenue have amended the Tax and Duty Manual in relation to Transfer of Business (“TOB”) Relief from Irish VAT. The publication of the amended Manual follows on from discussions between Irish Revenue and relevant industry stakeholders regarding the operation of TOB Relief and Irish Revenue’s previous guidance on the topic, last updated in November 2015.

The revised guidance introduces important changes to the availability of TOB Relief from VAT, particularly in the context of real estate transactions. This includes a significant change in Irish Revenue’s position regarding investment properties, including properties that are vacant at the time of sale but were let at some point in the past. The Manual can be accessed here .

The revised guidance applies to properties transferred on or after the date of publication of the amended Manual (ie 31 July 2018). However, to the extent that there is a binding contractual arrangement in place prior to 31 July 2018, the previous guidance should continue to apply.

If you would like any further information on this update, please feel free to contact a member of our Tax Group.

This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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