Ordinarily Resident in Ireland definition
Examples of Ordinarily Resident in Ireland in a sentence
When a repurchase request has been submitted by an investor who is or is deemed to be an Irish Resident or a person Ordinarily Resident in Ireland or is acting on behalf of an Irish Resident or person Ordinarily Resident in Ireland, the Company shall deduct from the Repurchase Proceeds an amount which is equal to the tax payable by the Company to the Irish Tax Authorities in respect of the relevant transaction.
When a repurchase request has been submitted by an investor who is or is deemed to be an Irish Resident or person Ordinarily Resident in Ireland or is acting on behalf of an Irish Resident or person Ordinarily Resident in Ireland, the Company shall deduct from the repurchase proceeds an amount which is equal to the tax payable by the Company to the Irish Revenue Commissioners in respect of the relevant transaction.
The Company will be obliged and entitled to deduct an amount in respect of Irish taxation from any dividend payable to a Shareholder in any Fund who is or is deemed to be an Irish Resident or a person Ordinarily Resident in Ireland and pay such sum to the Irish tax authorities.
If the transferor is, or is deemed to be, or is acting on behalf of an Irish Resident or person Ordinarily Resident in Ireland, the Company is entitled to repurchase and cancel a sufficient portion of the transferor’s Shares as will enable the Company to pay the tax payable in respect of the transfer to the Revenue Commissioners in Ireland.
Shareholders (depending on their own personal tax position) who are Irish Resident or Ordinarily Resident in Ireland may still be required to pay tax or further tax on a distribution or gain arising on an encashment, redemption, cancellation, transfer or deemed disposal of their Shares.