Revenue are commencing to contact taxpayers who have availed of the Debt Warehousing Scheme. Where a business has filed all due returns, the notice will set out a breakdown of the debt that has been warehoused including the tax type, the period and the amount that has been warehoused. For taxpayers who have any returns […]
Following Minister Donohoe’s budget speech, we have prepared a Budget Summary document which can be downloaded below. Many of the announcements made will be required to be enacted in a Finance Bill and so may be subject to change. […]
As the OECD’s deadline for finalising major reforms to the global tax system draws near, the Irish government recently opened a public consultation on the deal as it considers its future: Ireland is notably one of the holdouts on the agreement, which has seen some 131 countries sign up to the deal that includes setting […]
Read More… from Ireland Stares Down Major Changes to its Tax System
An individual could claim tax relief on interest paid on money borrowed to acquire a share in a partnership. Finance (No.2) Act 2013 abolished interest relief for all loans made on or after 15 October 2013 (save for some acquisitions of interests in certain farming partnerships. Interest relief for existing qualifying loans is to be […]
Read More… from Relief to Individuals on Loans Applied in Acquiring an Interest In a Partnership
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 […]
Revenue have recently published guidelines on How to Protect your Business from Becoming Involved in VAT Fraud. These guidelines are there to warn about the consequences of becoming involved in a set of transactions with a VAT fraud even if the transactions in which the business is involved are not themselves unlawful. What to expect […]
Read More… from How to Protect your Business from Becoming Involved in VAT Fraud
The Finance Act 2013 has inserted a new section 62A in the VAT Consolidation Act 2010. This deals with the adjustment of tax deductible in relation to unpaid consideration. The point of this section is to provide for an adjustment of the amount of VAT deductible where a person who has made a deduction of […]
Read More… from Adjustment of VAT deductible where consideration is unpaid after six months
The legislation governing Local Property Tax provides for payment by a liable person of the amounts due in respect of 2013, 2014 and arrears of 2012 Household Charge in either a single payment per year, or by phased payments over the course of each year. Advised in the Revenue eBrief of 2013, employers and pension […]
Read More… from LPT – Deduction at source from wages, salary or pension
‘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
Member of:
Registered to carry on audit work by Chartered Accountants Ireland
© 2024 FMB Advisory Ltd. All Rights Reserved.
