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Results: 4 Answers
Corporate Tax
7.
Consolidation
7.1
Is tax consolidation permitted, on either a tax liability or payment basis, or both?
 
Ireland
The concept of consolidated tax grouping for corporation tax purposes does not exist in Ireland. Trading losses may be offset on a current year basis against taxable profits of another group company.

Both the claimant company and the surrendering company must be within the charge to Irish corporation tax. To form a group for corporation tax purposes, both the claimant company and the surrendering company must be resident in an EU state or a jurisdiction with which Ireland has concluded a double tax agreement. In addition, one company must be a 75% subsidiary of the other company or both companies must be 75% subsidiaries of a third company. The 75% group relationship can be traced through companies resident in an EU state or a jurisdiction with which Ireland has concluded a double tax agreement.

For more information about this answer please contact: Andrew Quinn from Maples Group