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ARTICLE · 09 SEPTEMBER 2016

Irish SPVs Holding Irish Property Assets

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The Irish Minister of Finance announced on 6 September 2016 a series of highly targeted measures to amend tax rules that apply to qualifying companies within section 110 of the Irish SPVs.

IrelandTax
Andrew Quinn
Andrew Quinn
William Fogarty
William Fogarty
Nollaig Murphy
Nollaig Murphy
Stephen McLoughlin
Stephen McLoughlin
Barry McGrath
Barry McGrath
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The Irish Minister of Finance announced on 6 September 2016 a series of highly targeted measures to amend tax rules that apply to qualifying companies within section 110 of the Irish Taxes Consolidation Act, 1997 ("Irish SPVs").

The measures are focused exclusively on Irish SPVs which hold loans, shares or other financial assets which derive the greater part of their value from Irish real estate, whether residential or commercial ('Irish property assets').  Consequently, the changes will not affect most mainstream international structured finance transactions.

The holding and managing of such Irish property assets by the Irish SPV will now be termed an "Irish property business".

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