David Southern

DAVID SOUTHERN, barrister, summarises the Revenue's Consultative Document of 26 July 2001 on loan relationships and derivative contracts.

SOME 800,000 COMPANIES will be affected by major tax changes announced in the Revenue's Consultative Document of 26 July 2001, which included draft legislation. These changes are in the area of foreign exchange, financial instruments and loan relationships. Some changes took immediate effect on and from 26 July 2001.