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Version status: Published
Version date: 21 October 2021 - onwards

35. Amendment of Part 35B of Principal Act (implementation of Articles 7 and 8 of Council Directive (EU) 2016/1164 of 12 July 2016 (controlled foreign companies))

This format of the bill is taken from the text of stage 1 published on 21 October 2021 by Dáil Éireann

Part 35B of the Principal Act is amended by the substitution of the following section for section 835YA:

"835YA.

(1) In this section, 'listed territory' means -

(a) in relation to an accounting period beginning on or after 1 January 2021 but before 1 January 2022, a territory included in Annex 1 of the Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes [OJ No. C64, 27.2.2020, p.8], as replaced by the EU list of non-cooperative jurisdictions for tax purposes Report by the Code of Conduct Group (business taxation) suggesting amendments to the Annexes to the Council conclusions of 18 February 2020 [OJ No. C331, 7.10.2020, p.3],

(b) in relation to an accounting period beginning on or after 1 January 2022, a territory included in Annex 1 of the Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes [OJ No. C413I, 12.10.2021, p.1].

(2) Where, in an accounting period of a controlled foreign company, the territory in which the controlled foreign company is resident is a listed territory, sections 835T, 835U and 835V shall not apply in respect of that accounting period.".