Brexit link to €1.4 billion increase in cost of company tax relief

Tax experts suggest that the rise in the value of the reliefs claimed was motivated by Britain’s departure from the EU at the end of last year

19th October, 2020
Brexit link to €1.4 billion increase in cost of company tax relief
A Revenue spokesman told the Business Post that it was analysing the tax reliefs claimed. Picture: Getty

The Revenue is examining a €1.4 billion increase in the cost of a company tax relief, which is suspected of being linked to Brexit.

For almost two decades, companies can get an exemption from paying a 1 per cent stamp duty when they are amalgamating with other related companies.

However, new figures show that the cost of this tax relief jumped by an unprecedented €1.4 billion last year.

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