23B Residence of SE or SCE

Summary

This section provides that an SE or SCE that has its registered office in the State will be treated as being resident in the State for tax purposes. This is similar to the general rule for companies that is set out in section 23A, which provides that a company that is incorporated in the State will be resident for tax purposes in the State. The rules in section 23A are subject to some exceptions. Those exceptions also apply in the case of an SE and an SCE.

Details

Transfer of registered office by an SE or SCE

(1) & (2) An SE or SCE that transfers its registered office out of the State is not to be regarded as causing the SE or SCE to cease to be resident in the State. The Regulations covering an SE or SCE require the entity to have its head office in the same Member State as its registered office. As head office broadly equates to place of management and control, it is likely that the SE or SCE will be managed and controlled where its registered office is. The move of registered office from the State to another Member State does not of itself cause the SE or SCE to cease to be resident in the State. However, the accompanying move of head office is likely to involve management and control ceasing to be in the State and, consequently, the company ceasing to be resident in the State.

Relevant Date: Finance Act 2021