McGrath introduces roadmap for corporation tax participation exemption

Michael McGrath, the Minister for Finance, has published a roadmap for the introduction of a participation exemption in Irish corporation tax.

A participation exemption is designed to eliminate a form of double taxation on shareholders. Where there isn’t an exemption in place, shareholders pay tax on dividends received after the profits of the company have already been taxed.

With the exemption, taxation on shares and dividends is not applied so long as certain conditions are ...