Irish Revenue has issued eBrief No. 307/24 on new guidance concerning leasing ringfences, Tax and Duty Manual 12-04-02 – Leasing Ringfences – Sections 403 and 404 Taxes TCA 1997.
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Introduction
This manual is a guide to the leasing ringfences in sections 403 and 404 of the Taxes Consolidation Act 1997.
The ringfences aim to prevent the creation of tax advantages using leasing structures by restricting how excess capital allowances arising from leased machinery and plant may be used b…