Irish Revenue has issued eBrief No. 114/21 concerning updated guidance on the surcharge on undistributed income of close companies that are service companies. The surcharge is meant to counter avoidance of tax arising from the non-distribution of income of certain close companies (usually arising from professional activities) that would otherwise attract income tax at the higher rate.
---
Revenue eBrief No. 114/21 Surcharge on undistributed income of service companies
Tax and Duty Manual …