I am aware that, in the context of references to the so-called single malt structure, it has been suggested equivalent structures could be established using Irish-registered companies tax resident in the United Arab Emirates (UAE).
However, I am advised by Revenue that, by virtue of paragraph 2 of the Protocol to the Ireland-UAE Double Taxation Convention, a structure of that type could only arise where an Irish-incorporated or registered company used in the structure would pay income tax or corporate tax in the UAE on its income. As income tax or corporate tax would not be paid in the UAE by any such company, such a structure would not appear to be possible.
I am advised by Revenue that it will remain vigilant to identify and address any such structure that would be contrary to the purposes of Ireland’s Double Taxation Conventions. The purpose of not providing opportunities for double non-taxation is set out clearly in the new preamble to Double Taxation Conventions that will come into force through the BEPS Multilateral Instrument.
While I am not aware of any single malt equivalent structure, I will not hesitate to take such action as may be necessary to support Revenue in addressing any such structure.
