21 The charge to corporation tax and exclusion of income tax and capital gains tax
(2) The provisions of the Income Tax Acts relating to the charge of income tax shall not apply to income of a company (not arising to it in a fiduciary or representative capacity) if –
(a) the company is resident in the State, or
(b) the income is, in the case of a company not so resident, within the chargeable profits of the company as defined for the purposes of corporation tax.
(3) Subject to section 649, a company shall not be chargeable to capital gains tax in respect of gains accruing to it so that it is chargeable in respect of them to corporation tax.
Guidance on Revenue Opinions on Classification of Activities as Trading – TB57, October 2004 p10
Amendment to Tax and Duty Manual Part 02-02-02 - The charge to and rates of Corporation Tax – eBrief No. 019/18
Corresponding UK Tax Provision
Sections 6, Income and Corporation Taxes Act 1988. Section 6 is now re-enacted at various places in the Corporation Tax Act 2009. Refer to the Destination Table of that Act for details.
Sections referred to in text
section 407 [Restriction on use of losses and capital allowances for qualifying shipping trade]
section 649 [Companies chargeable to capital gains tax in respect of chargeable gains accruing on relevant disposals]
21A Higher rate of corporation tax
22A Reduction of corporation tax liability in respect of certain trading income
78 Computation of companies’ chargeable gains
243B Relief for certain charges on income on a value basis
396B Relief for certain trading losses on a value basis.
487 Corporation tax: credit for bank levy
707 Management expenses
711 Chargeable gains of life business
713 Investment income reserved for policyholders
739 Taxation of unit holders in undertakings for collective investment
835P Corresponding corporation tax in the State
835R Controlled foreign company charge
864 Making of claims, etc
1009 Partnerships involving companies
1044 Bodies of persons
Sch 24 Relief from Income Tax and Corporation Tax by means of credit in respect of Foreign Tax