1009A Taxation of certain foreign body corporates

Summary

This section seeks to ensure that foreign entity classification tests set out in caselaw can be applied to entities that are body corporates.

Details

The section applies to a body corporate incorporated or formed outside of the State. It provides that where that entity is substantially similar to an Irish partnership, that entity and its members are chargeable to tax on the basis that the foreign body corporate is a partnership and its members are partners in that partnership.

The question of whether an entity is substantially similar to an Irish partnership is determined based on a case-by-case assessment of the characteristics of the entity and the rights and obligations of its members.

Relevant Date: Finance Act 2025