Ireland’s network of treaties to eliminate and minimise double taxation continues to grow. Ireland has signed tax treaties with 72 countries; of these treaties 70 are in effect.
A full list of Ireland’s tax treaties can be found on the Revenue Commissioner's website. The treaties cover corporation tax, capital gains tax and income tax.
The information set out below provides an overview of the treaties recently signed by Ireland, including a summary of any updates to existing agreements and the developments in relation to new treaties.
New Agreements & Protocols
- Ireland has negotiated new agreements with Thailand and Ukraine with effect from 1 January 2016.
- The previous agreement which Ireland had with Zambia was replaced by a new agreement and became effective from 1 January 2016.
- Protocols to existing agreements with Germany and Luxembourg also became fully effective from 1 January 2016.
- Ireland has also signed a new agreement with Botswana. This treaty was signed on 10 June 2014 and will be effective from 1 January 2017.
New Agreements To Be Given Effect
Ireland signed new agreement with Ethiopia on 3 November 2014. The agreement is expected to come into effect in the near future.
The existing agreement which Ireland has with Pakistan is being replaced by a new agreement. This new agreement was signed on 16 April 2015 and is expected to come into effect in the near future.
Protocol To Existing Agreement
Ireland has completed the ratification procedures to bring the Protocol to the existing agreement with Belgium into force. When notification of the completion of ratification procedures by Belgium is received, the Protocol will enter into force.
Negotiations For New Agreements & Protocols
- Ireland has finalised negotiations on new agreements with Azerbaijan, Kazakhstan and Turkmenistan and the agreements will be signed shortly.
- Ireland has concluded a Protocol to the existing agreement with Mexico; the Protocol will be signed shortly.
- Ireland is also in the process of negotiating a new agreement with Ghana and
- Is negotiating a Protocol to the existing agreement with South Africa.
Negotiations On Existing Agreements
Ireland is in the process of replacing the existing agreement with the Netherlands.
Overall, Ireland is regarded as a very attractive tax location, because it has successfully negotiated an extensive treaty network and is also in the process of agreeing and finalising new treaties with various other countries.
The above does not purport to be a comprehensive review of Irish tax treaties. Detailed appropriate advice should be taken before any particular transaction is entered into. Please note that this commentary is based on information sourced from www.revenue.ie. Pearse Trust does not accept responsibility for the accuracy of content provided by third parties.