Courts / Ireland / Report

Perrigo challenges €1.6 billion Revenue demand

Summary

Perrigo Pharma International Designated Activity Company has filed a High Court challenge to overturn a €1.6 billion corporation tax demand issued by the Revenue Commissioners. The dispute stems from a Notice of Amended Assessment for 2013, which changed the tax treatment of the sale of intellectual property for the MS drug Tysabri. Originally taxed as trading income at 12.5 %, Revenue reclassified the transaction as a chargeable gain subject to a 33 % rate. Perrigo, which acquired Elan's interest in the IP eight months after the sale, argues that it had a legitimate expectation to be taxed at the 12.5 % rate, based on a 10 % rate under the 1997 Taxes Consolidation Act that was increased to 12.5 % in 2005. The company seeks to quash the amended assessment for the period 1 January 2013 to 31 December 2013 and to obtain declarations that the assessment is unfair, breaches Perrigo's legitimate expectation, and interferes with its constitutional property rights.

Who, what, where, when and why

What: Report matter: Perrigo challenges €1.6 billion Revenue demand. Procedural stage: hearing_or_decision

When:

• 1st January 2013 Hearing Or Sentence
• 31st December 2013 Incident
• 2019-02-25 Publication

Case subjects

Places mentioned

Topics

Drugs Stage Hearing Or Decision

Read the original CNI report