The Yearbook & Directory of Ireland's international financial services industry
Thursday, 24th June 2021

Devlin, Caroline

Firm: Arthur Cox
Position: Partner, Co-Chair of Aviation Group
Address: Ten Earlsfort Terrace, Dublin, 2 D02 T380.
Phone: +353 1 920 1224
Fax: +353 1 920 1020
Personal URL:

Special Areas:

Tax, Aviation


Caroline has recently advised in the following areas:

- Tax issues associated with setting up in Ireland including tax aspects of servers located in Ireland, maximising tax incentives available in Ireland, efficient repatriation of profits, tax aspects relating to data and IP in Ireland and other tax advices
- Intellectual property structuring, including moving IP into and out of Ireland, managing withholding taxes, devising structures to maximise allowances, either onshore or through bespoke transactions
- Advising lenders, lessors, lessees and airlines on Irish tax related matters in the establishment and maintenance of Irish aircraft leasing platforms and providing insight in relation to the impact of OECD Base Erosion and Profit Shifting (BEPS) measures and EU Anti-Tax Avoidance Directives on the aircraft leasing sector
- Financing and securitisation transactions for various asset classes and jurisdictions including Russia, Germany, France, China, Korea, UK and US
- FinTech transactions including advising on Initial Coin Offerings (ICOs)
- Private equity firms on Irish tax aspects of acquiring property loan books, which involves all tax aspects of dealing in loans and property based transactions
- Tax issues arising relating to capital raising by Irish banks and non-Irish banks
- Universities seeking an outward expansion into other jurisdictions in a tax efficient manner


Caroline is co-chair of the Aviation Group. She is also a senior partner in the Tax Group. She has extensive experience in advising both domestic and international companies on structuring their tax affairs for various types of transactions including establishing operations in Ireland, mergers and acquisitions, intellectual property structures, reorganisations and restructurings. She is particularly experienced in advising clients on all financial services transactions including loan portfolio transactions, securitisations, bond issues, and aircraft and equipment leasing. Caroline is also very experienced in navigating a path through tax disputes and tax litigation for clients. Caroline leads the firm’s Asia-Pacific Group.


- BCL, 1982, University College, Dublin
- Associate of Tax Institute (AITI), 1985
- Admitted as a solicitor, 1986


- Institute of Taxation in Ireland
- Law Society of Ireland Taxation Committee
- Member and Past Chairman of the Main Taxation Administration Liaison Committee (TALC)
- Member of TALC BEPS Implementation Sub-Committee