asked the Minister for Finance whether income tax and surtax are paid to the national Exchequer on all the profits earned by foreign-owned trading stamp concerns; and, if not, if he will consider adopting measures to prevent an outflow from this country of the profits and tax revenue potential of foreign-owned trading stamp and similar concerns, particularly in view of the increasing amount of money involved.
Ceisteanna—Questions. Oral Answers. - Trading Stamps.
25.
Companies carrying on trading stamp business in the State are liable to income tax and corporation profits tax under the same taxation provisions as apply to other companies; there is no special exemption
Under the reciprocal double taxation relief arrangements with Great Britain, companies resident in that country for tax purposes can claim exemption from Irish income tax on their Irish branch profits; but in respect of these profits they remain liable to British tax and to Irish corporation profits tax.