|
For additional info by Ireland Tax Office, see www. The Irish tax treatment of intellectual property I. Buckfast has a nightmare image in some quarters which could not be further from the serenity of Buck-fast Abbey. One of the most beneficial corporate tax environments in the world. Certain payments are deductible from taxable income as detailed below. There are reduced rates of tax for certain income earners. The company argues that Buckfast has been unfairly targeted, that it is only a small part of the drinks market, and that it is scapegoated for underlying complex social problems. Deduction at source in the case of a dividend, royalties and interest for foreign residents is subject to the Double Taxation Prevention Treaty. There is no obligation to deduct tax at source from interest paid on a foreign resident's bank account.
The Irish and Scottish complaints centre on the fact that it is easily available, relatively cheap and, above all, very strong. Devon's Buckfast Abbey is known as a place of serenity, where its community of Benedictine monks can meditate in silence and tranquility in an atmosphere of spiritual contemplation.
|
|