On 14 September 2023, the Minister for Finance MR. Michael McGrath published a Roadmap for the Introduction of a Participation Exemption to Irish Corporation Tax, including a technical consultation to inform ongoing design work.
The roadmap sets out a timeline for the introduction of a participation exemption for dividends, and the next steps towards the planned introduction of a participation exemption for foreign branch profits in the autumn 2024 Finance Bill.
The roadmap outlines a range of commitments for the introduction of a participation exemption for foreign sourced dividends in Finance Bill 2024, beginning with the launch of a technical consultation. The consultation period will run from now until 13 December 2023. Following consideration of responses, and further stakeholder engagement as required in early 2024, it is planned that a first Feedback Statement will be published by the end of March 2024, to set out draft approaches to legislation and facilitate detailed technical consultation. A second Feedback Statement, if required, would be facilitated in July 2024, in advance of the introduction of legislation for a participation exemption for foreign-sourced dividends in Finance Bill 2024, to come into effect in 2025.
