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ICO debt write off

crazylikeme · 2017-12-04 15:24:02

Hi does anyone know if there are any tax implications 1) if an Irish company forgives old ICO balance to parent company who is not resident in Ireland? 2) If Irish co is forgiven ICO debt owed by it to another company within the group? Thanks

04-12-2017 4:24pm

#1

crazylikeme

Registered Users Posts: 42 ✭

Join Date: January 2014

Posts: 33

Hi

does anyone know if there are any tax implications

1) if an Irish company forgives old ICO balance to parent company who is not resident in Ireland?
2) If Irish co is forgiven ICO debt owed by it to another company within the group?

Thanks

0

Comments

#2 04-12-2017 8:38pm

dbran

Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭

Join Date: October 2004

Posts: 2041

Hi there

it depends on how the debt arose originally if it was due to trade or finance related.

regards

dbran

0