There is no legal limit to the amount of time that you can remain a director of a private limited company, as long as you continue to meet the mandatory requirements. However some restrictions are imposed for public companies and the Multi-Unit Development Act, 2011 also limits the terms that Directors of Owners’ Management Companies […]
Revenue launched a reminder of the eDay deadline for which central Government, local authorities and State agencies stop issuing and accepting cheques from businesses. eDay is the 19th September, this year. eDay is there to encourage SME’s away from using cheques as it is an expensive way of payment for businesses. As stated by Revenue, […]
Last month we talked about Who Can Become a Director. Today FMB highlights the important points for Appointing a Director. Appointment of Directors New Directors can be appointed to a company in a number of ways; By an ordinary resolution of the shareholders at a general meeting By co-option by the existing board of Directors. […]
Revenue has launched a new Home Renovation Incentive (HRI) electronic system which homeowners can use to check if a contractor is tax compliant. Contractors can enter details of qualifying works and payment received through the HRI on ROS. The HRI scheme provides for tax relief for homeowners by way of an income tax credit at […]
‘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. […]
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 […]
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 […]
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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