Revenue eBrief No. 027/25
27 January 2025
07-01-06 Charitable Tax Exemption
Tax and Duty Manual 07-01-06, which deals with charitable tax exemption, has been updated to reflect amendments in Finance Act 2024.
- A new paragraph 8 details amendments to sections 207, 208 and 208A Taxes Consolidation Act 1997 (TCA), which provide that a charity will retain its charitable exemption in circumstances where it intends to accumulate funds for charitable purposes, provided that the income is expended by the end of the fifth year after the year in which the income is received.
- Paragraph 10 has been updated to cover the removal of the current two-year waiting period for eligibility for the Charitable Donation Scheme (CDS) in Part 3 of Schedule 26A TCA. In addition, where a charity has merged or restructured into another entity, the condition that the predecessor entity must have been approved for the CDS for two years also no longer applies.