This podcast discusses a determination from the Tax Appeals Commission regarding an appeal concerning income tax assessments for 2011 and 2012. The appeal stems from an individual's participation in Liberty Syndicates, which engaged in complex transactions involving the purchase of dividend rights from British Virgin Islands (BVI) companies. The core dispute revolves around whether these syndicate activities constituted a tax-deductible trade or an investment, and if certain foreign dividend income was exempt from Irish tax under Section 812 of the TCA 1997. The Commissioner, leveraging previous related judgments from the High Court and Court of Appeal, upheld the Revenue Commissioners' original tax assessments, concluding that the appellant's activities were not a trade and the dividend income was taxable. The decision was made without a new hearing, as the appellant did not differentiate their case from prior, similar appeals.

132TACD2025 - Income Tax

This podcast concerns an appeal to the Tax Appeals Commission regarding an income tax assessment for the 2014 tax year. The case centers on an appellant's participation in "Liberty Syndicates," which involved complex financial transactions with British Virgin Islands (BVI) companies, primarily the purchase of dividend rights. The core dispute revolves around whether these transactions constituted a genuine trade in financial instruments for tax purposes, allowing for the generation and offset of significant tax losses, or if they were investments designed primarily for tax avoidance. The Commission's decision to uphold the assessment against the appellant was heavily influenced by previous determinations in similar "Liberty appeals" (32TACD2020 and 53TACD2020), which were upheld by both the High Court and the Court of Appeal, finding that the syndicates' primary objective was tax advantage rather than profit-making trade. Furthermore, the document addresses the applicability of Section 812 of the TCA 1997 to these foreign dividends and the validity of the appellant's "expression of doubt" on their tax return, both of which were found insufficient by the Commission, consistent with prior rulings.

134TACD2025 - Income Tax

This podcast discusses the Tax Appeals Commission detailing an appeal regarding an income tax assessment for the 2013 tax year. The appeal concerns a taxpayer's involvement in "Liberty Syndicates," which involved complex financial transactions designed to generate tax losses through the purchase of BVI (British Virgin Islands) dividends. The Commission determined the taxpayer was not engaged in trading but rather in investment activity, and that the dividend income was taxable. Furthermore, the taxpayer's "expression of doubt" regarding their tax return was deemed invalid, ultimately upholding the Revenue Commissioners' initial assessment.

143TACD2025 - Income Tax

This podcast details an appeal to the Tax Appeals Commission regarding income tax assessments for 2011 and 2012, stemming from an individual's participation in Liberty Syndicates. The core of the dispute revolves around whether the appellant's involvement constituted trading in financial instruments or an investment, and the tax implications of dividend income received through complex transactions involving British Virgin Islands (BVI) companies. The commission's determination, aligning with previous rulings and court judgments, finds that the appellant was not engaged in a trade and that the transactions were designed to generate tax losses, thus upholding the original tax assessments. Furthermore, the document addresses whether expressions of doubt on tax returns were valid, ultimately finding them insufficient.

139TACD2025 - Income Tax

140TACD2025 - Income Tax

144TACD2025 - Income Tax

150TACD2025 - Income Tax

148TACD2025 - Income Tax

This podcast outlines an appeal to the Tax Appeals Commission concerning an income tax assessment for the 2011 tax year, involving an Appellant and the Revenue Commissioners. The core issue revolves around the Appellant's participation in Liberty Syndicates, which engaged in complex transactions involving the purchase of dividend rights from British Virgin Islands (BVI) companies. Previous determinations from similar cases, 32TACD2020 and 53TACD2020, and subsequent judgments from the High Court and Court of Appeal, which upheld the original tax assessments, are referenced as binding precedents. The document details the legal framework allowing for determination without a new hearing, given the commonality of issues and the Appellant's failure to present new arguments. Ultimately, the Commissioner determines that the Appellant was not engaged in a trade but rather an investment scheme designed for tax advantages, and the foreign dividend income is taxable, upholding the original assessment.

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