Tax Implications on Receivership


Tax Implications on Receivership

The areas of taxation in a receivership situation is fraught with dificulty and ambugity. The receiver generally steps into the shoes of the taxpayer, but who is liable for the tax ?

Revenue have published a response to the public consultation on the Tax Implications of Appointing Receivers started in July 2012.  In the response document, Revenue have set out their proposed approach in relation to the direct tax aspects of receiverships.  A standard approach is being advocated to apply irrespective of the income type or the type of borrower.

The reform of the tax legislation and guidance is vital to address the uncertainty in the tax treatment of receivership cases.  The proposed approach will contribute to providing the certainty needed, however, we have reservations about a number of legislative provisions in the draft legislation and administrative matters. 

However there are still arears of concern. Chartered Accountants Ireland have identified three key areas of concern and have highlighted these in a submission. They are; the meaning of net receipts, practicalities of the refund mechanism and administration of the proposals.  

Our tax consultants can help with guiding you through this difficult process. Please email



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