Country-specific updates: Ireland

The Irish Tax Appeals Commission recently published a very interesting determination (81TACD2022), where it was held that an Irish holding company had an entitlement to VAT recovery in the amount of EUR45,037,282. The background facts are quite complex, and the case largely revolved around the question of whether the holding company was engaged in an economic activity (in line with the jurisprudence of the Court of Justice of the European Union). The case will be of interest to holding companies seeking VAT recovery with respect to certain expenses, although it should be noted that the Irish Tax Authority have appealed the decision in the case to the Irish High Court.

In case of any questions, please contact Michael Tansley.