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Taxes Consolidation Act, 1997 (Number 39 of 1997)


769L Documentation.

(1) (a) A relevant company in relation to all qualifying assets in respect of which a claim was made under section 769I(2) shall have available such records as may reasonably be required for the purposes of determining whether, in relation to such an asset, the qualifying profits has been computed in accordance with this Chapter.

(b)The records shall demonstrate that—

(i)overall income from the qualifying asset,

(ii)qualifying expenditure on the qualifying asset, and

(iii)overall expenditure on the qualifying asset,

have been tracked, and the relevant company shall have available documentation on this tracking which shows how such expenditures and income are linked to the qualifying asset.

(c)If the relevant company has opted under subsection (3) of section 769H for this Chapter to apply in the manner specified in that subsection, then, in relation to any family of assets referred to in that subsection, the relevant company shall also have available records that support the reasonableness of the company having opted as mentioned in this paragraph, including such records as are required to support—

(i)the commonality of scientific, technological or engineering challenges underlying the research and development activities which were undertaken and which resulted in the qualifying assets,

(ii)the consistency of the chosen method of grouping with the organisation of research and development activities carried on by the relevant company,

(iii)the creation of a nexus between expenditures and a family of assets, or

(iv)the choice of a family of assets with which to create that nexus, as may be relevant in each case.

(d)A relevant company in claiming that a derivative work or an adaptation represents a qualifying asset shall have available records which—

(i)identify the original work and the derivation or adaptation therefrom,

(ii)the costs associated with both the original work and the derivative work or the adaptation, and

(iii)support any method of apportionment of income between the original work and the derivative work or adaptation.

(2)The requirements of this section shall not apply to expenditures incurred prior to 1 January 2016.

(3)The records referred to in subsection (1) shall be prepared on a timely basis and, subject to subsection (4), the obligations contained in subsections (3) and (4) of section 886 to keep and retain records and linking documents apply to all records, documents or other data created or maintained manually or by any electronic means for the purposes of this Chapter.

(4)For the purposes of this section, section 886(4)(a) shall apply as if for subparagraphs (i) and (ii) there were substituted:

‘in respect of each qualifying asset, for a period of 6 years from the end of the accounting period in which a return has been delivered in respect of the last accounting period in which that asset was a qualifying asset and’.

(5)An officer of the Revenue Commissioners may by notice in writing require a relevant company to furnish the officer with such information or particulars as may be necessary for the purposes of giving effect to this Chapter.

(6)(a) The Revenue Commissioners may make regulations for the purposes of this section and those regulations may contain such incidental, supplemental or consequential provisions as appear to the Revenue Commissioners to be necessary or expedient—

(i)to enable persons to fulfil their obligations under this Chapter or under regulations made under this section, or

(ii)to facilitate the operation of the provisions of this Chapter or regulations made under this section in an efficient manner.

(b) Regulations made under this section shall be laid before Dáil Éireann as soon as may be after they are made, and if a resolution annulling those regulations is passed by Dáil Éireann within the next 21 days on which Dáil Éireann has sat after the regulations are laid before it, the regulations shall be annulled accordingly, but without prejudice to the validity of anything previously done under them.

(7)Failure to have available such documentation as is required under this section shall, notwithstanding anything else in this Chapter, result in a company not being a relevant company for the purposes of this Chapter in respect of the accounting period to which the failure relates.




Inserted by FA15 s32(1)(a). Comes into operation on 1 January 2016.