Ireland Issues New Instruction on the Taxation of UCITS and Alternative Investment Funds

On 11 August 2015, Ireland Revenue published eBrief No. 76/15 concerning the taxation of undertakings for collective investment in transferrable securities (UCITS) and alternative investment funds (AIF) and their investors. The eBrief references a new instruction inserted in the Unit Trusts and Offshore Funds Tax and Duty Manual to ensure that a fund, which would not otherwise be within the charge to tax in Ireland, is not brought within such a charge purely as a result of having an Irish man…