‘Automatic Exchange of Information (“AEOI”) is a relatively recent component of international cooperation in tax matters. Ireland fully supports the global move towards AEOI and is actively involved in progressing AEOI within the EU, the OECD, and on a bilateral basis.’ – Revenue.ie The Foreign Account Tax Compliance Act (FATCA) In December 2012, Ireland concluded […]
On 13th June 2014 the Revenue Office released a Tax Briefing with regard to new responsibilities for employers in relation to the PAYE system. Employers are now obligated by law to maintain and keep a Register of Employees and may at any time be requested to produce a hard or soft copy of the register. […]
Read More… from PAYE: Employer’s obligation to Register Employees
The Tax authority has been conducting a National Audit Project on those who work for one client and provide services through their own company, mainly contractors in the IT, Scientific, Technical and Administrative sectors. It is said that the claim of excessive expenses from professionals through a company has yielded €9.3m for the Revenue Commissioners […]
The Irish economy generates foreign exchange (FX) flows of approximately €200 bn every year from the import and export of goods and services in addition to financial flows. Volatility in the FX markets is an ever present challenge to financial managers and business owners who are trying to minimise the impact that movements in FX […]
In a recent list compiled by the Irish Times, FMB have been ranked 12th in the top 1,000 auditors in Ireland. Read all about it in our blog […]
Read More… from FMB 12th place in Top 1000 Auditors in Ireland
FMB Chartered Accountants has been ranked 12th place in the Irish Times Top 1000 Auditors list. Compiled by the Irish Times journalists, Top 1000 Audit Watch offers a comprehensive market analysis including audit firm, audit fees and non-audit fees. As their Audit Methodology states, Top 1000 Audit Watch is the first survey of its kind, […]
Phasing in of mandatory iXBRL filing for corporation tax: a brief summary Since November 2012, those obliged to file corporation tax and income tax returns have had the option to file financial statements in iXBRL format via ROS (Revenue On-line Service). iXBRL (or inline eXtensible Business Reporting Language) is a language that allows financial information […]
The Central Bank have today issued Supervisory commentary on their PRISM engagements with Credit Unions. The report is critical of the majority of Credit Unions. Read the full document HERE […]
Revenue have today confirmed the ROS extension of Pay and File deadline for 2014. For tax payers who file on ROS and make the appropriate payment for the balance of tax and preliminary tax for 2014 the extended date is Thursday 13 November 2014. Note that you must both pay and file through ROS to avail of the extension […]
In their 2013 Annual Report, Revenue claim that the introduction of Local Property Tax (LPT) was a major administrative challenge for them during 2013. The end result was “exceptional” compliance rates were achieved in the first year of LPT according to Revenue. The annual report confirms that more taxpayers are using Revenue’s electronic services to […]
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