Irish Revenue has issued eBrief No. 170/23 on updated guidance (TDM 35D-01-01) regarding the interest limitation rule (ILR). The ILR generally limits deductible interest expense to 30% of EBITDA, with disallowed interest allowed to be carried forward and deducted in future years. The guidance has been updated in relation to an interest group election, including an example where a company leaves one interest group and joins another. The term "interest group" is only applicable to the operation of the ILR. An interest group is made up of all companies within the charge to corporation tax that are members of the...