Chapter 8

Imported mismatch outcomes

Summary

This chapter sets out the anti-hybrid rules relating to imported mismatch outcomes. Imported mismatch outcomes arise where an Irish company does not enter into a hybrid transaction itself but funds, either directly or indirectly, a mismatch outcome through a transaction or series of transaction. Essentially, an imported mismatch outcome arises where an Irish company makes a payment and that payment is used, directly or indirectly, to fund expenditure involving a hybrid mismatch outside the State.

835AR Application of chapter

Summary

This section sets out the entities and transaction(s) to which this chapter applies.

Details

This section provides that the chapter shall apply to

1. a company which is within the charge to domestic tax, and
2. a mismatch outcome which arises through a transaction or series of transactions
1. between—
1. entities that are associated enterprises,
2. the head office of an entity and a permanent establishment of that entity, or
3. two or more permanent establishments of an entity, and
2. the company established in the State makes a payment to a payee established in a state that is not a Member State.

Relevant Date: Finance Act 2021