Ireland Enacts Harsh Property Tax & AML Measures

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Ireland’s 2020 Budget enacts the European Union’s Anti-Tax Avoidance Directive (Directive 2016/1164, ATAD), reforming transfer pricing and anti-hybrid tax rules with effect from 1 January 2020.

The dividend withholding tax rate increases from 20 to 25 per cent, and further limits will be placed on Irish real estate funds’ tax relief for interest payments. The 12.5 per cent corporate tax rate on trading profits is maintained.