IREF guidance

Under the Irish Real Estate Fund (IREF) regime, withholding tax must be operated on payments to certain unit holders. The IREF withholding tax need not be operated on payments to Irish pension schemes, life companies or investment undertakings. EU / EEA schemes, companies or undertakings, as the case may be, that are equivalent to these Irish investor types can make the same declarations as their Irish equivalent.

Tax and Duty Manual Part 27-01b-02 now sets out what factors should be taken into account when assessing the equivalence of an EU / EEA pension scheme, life company or investment undertaking.

Finance Act 2017 amended the Irish Real Estate Fund (IREF) regime. Tax and Duty Manuals Part 27-01b-02, which contains the general IREF guidance, and Part 27-02b-01, which contains the relevant declaration forms, have been updated to reflect these amendments. Appendix I in Tax and Duty Manual Part 27-01b-02 tracks the updates.

17 April 2018