Tom Maguire: Corporate tax exemption on foreign income is a good move

The Department of Finance’s public consultation on a corporate tax exemption for foreign dividends and foreign branches ended just before the Christmas break. It’s anticipated that an exemption for dividends will be brought about by the Finance Bill later this year.

The department’s public consultation document explained that a participation exemption for foreign-sourced dividends is a double taxation relief measure, which operates by exempting certain qualifying foreign dividend income received from corporation tax in the ...