Tuesday, December 18, 2018
This article first appeared in Irish Tax Review, Vol. 31 No. 4 (2018) © Irish Tax Institute.
The purchase by a company of its own shares is one of the most common methods of exiting a business. Partner Amanda-Jayne Comyn discusses the relevant legislation: the Companies Act 2014, which sets out the legal procedure to effect and authorise a purchase by a company of its own shares; and the Taxes Consolidation Act 1997, which sets out the parameters under which the monies received on the purchase or redemption can be treated as a capital receipt.
Full article available here.