I am informed by the Revenue Commissioners that there are no tax reliefs available which are specific to aircraft lessors. In general, however, a company carrying on a trade of aircraft leasing would, similar to any other company carrying on a trade, be charged to corporation tax, in respect of its trading income at a rate of 12.5%.
In addition, when computing its profits for an accounting period, a company would be entitled to claim capital allowances in respect of the wear and tear on plant and machinery owned by it and in use for the purposes of its trade at the end of that accounting period. In the case of an aircraft leasing company, this means that the company could claim a capital allowance in respect of the cost of acquiring an aircraft. The allowance is granted over a period of 8 years at a rate of 12.5% per annum.