Tom Maguire: For investors, simplicity eats complexity for breakfast

To make Ireland more attractive for investment, we must tackle the pre-existing tax laws that make the Interest Limitation Rules such an unwieldy beast

The devil is in the detail: regulations guiding tax relief on debt financing have become ever more weighty as each law is layered upon another, previous one. Illustration: Getty

Irish law provides for tax deductions for interest incurred on a company’s debt financing, provided the necessary conditions are adhered to. Regular readers will know my view that our laws for such deductions are complex and the Finance Act 2021 has only added to the complexity.

That act brought about complex restrictions for tax deductions on financing costs which are referred to as the Interest Limitation Rules (ILR). How do you know a law is ...