Revenue has updated the Tax and Duty Manual regarding the Charitable Tax Exemption following the changes announced in Finance (No.2) Act 2023.
The updated guidance confirms that:
- The tax exemption available under section 208 TCA 1997 is extended to include professional services income of a charity; and
- Revenue will withdraw the charitable tax exemption from the date in which the charity is no longer eligible, where withdrawn, Revenue will notify the Charities Regulator.
The updated guidance also addresses applications for the tax exemption under section 208A TCA 1997 by overseas charities and under section 209 TCA 1997 for certain bodies established for the promotion of human rights.
LOADING...