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Amendment of section 590 (attribution to participators of chargeable gains accruing to non-resident company) of Principal Act.
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57.— (1) Section 590 of the Principal Act is amended by substituting the following for subsection (7)(a):
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“(a) a chargeable gain accruing on the disposal of assets, being—
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(i) tangible property, whether movable or immovable, or a lease of such property, or
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(ii) specified intangible assets within the meaning of section 291A(1),
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where the assets were used, and used only, for the purposes of a trade carried on by a company, or by another company which is a member of the same group (within the meaning of subsection (16)) as the first-mentioned company, wholly outside the State,”.
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(2) This section applies to disposals made on or after 4 February 2010.
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