Tax Appeal Commission ruled business was not entitled to capital gains tax repayment
In 2016, the firm agreed to sell the portfolio to an unconnected purchaser which is a company incorporated and tax resident here.
Ultimately, the firm agreed to pay €1.092m to Revenue on a ‘without prejudice’ basis in order that the sale of the portfolio could be completed. An expert witness for the firm told the TAC that the company purchased distressed loans with a view to disposing of them but also that part of the intention of acquiring them was to generate cash flow during the hold period from payments being made by the borrowers.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Musk loses appeal of ‘Twitter sitter’ ruling over Tesla postsBillionaire has to have tweets about Tesla checked before posting after 2018 decision
Read more »
Gardaí appeal for witnesses following fatal collision in LongfordThe collision occurred at approximately 1:30pm on Saturday
Read more »
Less than half of tenants have claimed Rent Tax Credit 'out of fear' | NewstalkLess than half of all tenants entitled to claim a new Rent Tax Credit have submitted a claim.
Read more »
Tipperary girl (11) launches birthday card appeal after cancer relapseBirthday cards can be sent to Jess Kelly, Marconi House, Digges Lane, Dublin 2, D02TD60 and will get to Róisín before her big celebration at the end of the month.
Read more »
Irish fund Fountain Healthcare leads €40m Dualyx fundraiseIrish fund Fountain Healthcare leads €40m Dualyx fundraise via IrishTimesBiz
Read more »