Business Tax Advisors
Revenue eBriefs-Income Tax, Corporation Tax, Capital Gains Tax
Revenue Compliance, Income Tax, Business Tax, Personal Tax, Capital Gains Tax, CAT, VAT, Revenue Audits and Investigations
Are you aware just how much has changed since 1st January 2020 in terms of Tax compliance, Tax Credits, Personal/Income Tax, Business/Corporation Tax, Capital Acquisitions Tax (CAT), Capital Gains Tax (CGT), Value Added Tax (VAT), PAYE, Stamp Duty, Transfer Pricing, Local Property Tax (LPT), Revenue Compliance, Revenue Audit and Investigation Procedures, etc.?
Here are a list of the Revenue eBriefs published in 2020
JANUARY 2020
Revenue eBrief No. 001/20 – Deduction for statutory registration fees paid to the Health and Social Care Professionals Council (CORU) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0012020.aspx
Revenue eBrief No. 002/20 – Uniform and Clothing Allowances paid to Fire Officers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0022020.aspx
Revenue eBrief No. 003/20 – Deduction for Expenses in Respect of Annual Membership Fees Paid to a Professional Body https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0032020.aspx
Revenue eBrief No. 004/20 – General Rule as to Deduction for Expenses in Employment https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0042020.aspx
Revenue eBrief No. 005/20 – Certain benefits payable under Social Welfare Acts – increase for qualified adult https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0052020.aspx
Revenue eBrief No. 006/20 – Provisions and Accruals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0062020.aspx
Revenue eBrief No. 007/20 – Taxes Consolidation Act Notes for Guidance – Finance Act 2019 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0072020.aspx
Revenue eBrief No. 008/20 – Certificates of Income for Non-Revenue Purposes -Self Assessment Cases https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0082020.aspx
Revenue eBrief No. 009/20 – Pay & File Extension Date – 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0092020.aspx
Revenue eBrief No. 010/20 – Capital Gains Tax (CGT) Farm Restructuring Relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0102020.aspx
Revenue eBrief No. 011/20 – Guidelines for Phased Payment Arrangements https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0112020.aspx
Revenue eBrief No. 012/20 – Pensions Manual Updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0122020.aspx
Revenue eBrief No. 013/20 – Stamp duty levies – health insurance levy and bank levy https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0132020.aspx
Revenue eBrief No. 014/20 – Chargeable Persons https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0142020.aspx
Revenue eBrief No. 015/20 – Rates of stamp duty – Finance Act 2019 changes https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0152020.aspx
Revenue eBrief No. 016/20 – The tax treatment of rental income (Case V) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0162020.aspx
Revenue eBrief No. 017/20 – Home Carer Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0172020.aspx
Revenue eBrief No. 018/20 – Tax treatment of legal fees https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0182020.aspx
Revenue eBrief No. 019/20 – Electronic Tax Clearance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0192020.aspx
Revenue eBrief No. 020/20 – General Rule as to Deduction for Expenses in Employment https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0202020.aspx
Revenue eBrief No. 021/20 – Charities VAT Compensation Scheme – Guidelines https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0212020.aspx
Revenue eBrief No. 022/20 – Universal Social Charge https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0222020.aspx
Revenue eBrief No. 023/20 – Schedule E expense deductions for employed consultants and non-consultant hospital doctors (NCHDs) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0232020.aspx
Revenue eBrief No. 024/20 – Dividend Withholding Tax Manual 06-08a-01 updated in accordance with Finance Act 2019 changes https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0242020.aspx
Revenue eBrief No. 025/20 – Administration of Form S.110 – Notification of ‘qualifying company’ and Form S.110W – Withdrawal of notification of ‘qualifying company’ https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0252020.aspx
Revenue eBrief No. 026/20 – Average market mid-closing exchange rates and Lloyds sterling conversion rates https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0262020.aspx
Revenue eBrief No. 027/20 – Anti-Tax Avoidance Directive (ATAD) – Exit Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0272020.aspx
Revenue eBrief No. 028/20 – Amendment of Certain Tax Exemption Provisions https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0282020.aspx
FEBRUARY 2020
Revenue eBrief No. 029/20 – “Main purpose” tests https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0292020.aspx
Revenue eBrief No. 030/20 – Tax treatment of income arising from the provision of short-term accommodation https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0302020.aspx
Revenue eBrief No. 031/20 – Prohibitions and Restrictions concerning Endangered Species and Wildlife https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0312020.aspx
Revenue eBrief No. 032/20 – Tax treatment of foster care payments and certain other payments made or authorised by the Child and Family Agency https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0322020.aspx
Revenue eBrief No. 033/20 – Tax treatment of certain education related payments https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0332020.aspx
Revenue eBrief No. 034/20 – Revenue National Employer Service https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0342020.aspx
Revenue eBrief No. 035/20 – 2019 Form ESS1 – Return of Information by the Trustees of an Approved Profit Sharing Scheme (APSS) is now available on ROS https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0352020.aspx
Revenue eBrief No. 036/20 – Earned Income Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0362020.aspx
Revenue eBrief No. 037/20 – Living City Initiative https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0372020.aspx
Revenue eBrief No. 038/20 – iXBRL – Guidance for voluntary strike-offs and other amendments https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0382020.aspx
MARCH 2020
Revenue eBrief No. 039/20 – Mitigation and Application of Fines and Penalties https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0392020.aspx
Revenue eBrief No. 040/20 – Case V Capital Allowances https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0402020.aspx
Revenue eBrief No. 041/20 – Surcharge for late returns: Due dates when starting a business https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0412020.aspx
Revenue eBrief No. 042/20 – Farming – Tax treatment of payments made under Rural Environment Protection Scheme (REPS) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0422020.aspx
Revenue eBrief No. 043/20 – Case V Capital Allowances and Losses forward for USC Purposes https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0432020.aspx
Revenue eBrief No. 044/20 – Revenue to operate Employer COVID-19 Refund Scheme on behalf of DEASP https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0442020.aspx
Revenue eBrief No. 045/20 – e-Working and Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0452020.aspx
Revenue eBrief No. 046/20 – Advice and information to assist taxpayers and their agents during the COVID-19 pandemic https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0462020.aspx
Revenue eBrief No. 47/20 – Revenue to operate Temporary COVID-19 Wage Subsidy Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0472020.aspx
Revenue eBrief No. 48/20 – Temporary COVID-19 Wage Subsidy Scheme – Transitional Phase https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0482020.aspx
Revenue eBrief No. 049/20 – Taxation of Deposit Interest https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0492020.aspx
Revenue eBrief No. 50/20 – Important customer notice regarding Revenue services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0502020.aspx
Revenue eBrief No. 051/20 – Customs Value Authorisation (CVA) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0512020.aspx
Revenue eBrief No. 052/20 – Guidance Manual on Customs Warehousing https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0522020.aspx
Revenue eBrief No. 053/20 – VAT Groups https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0532020.aspx
Revenue eBrief No. 054/20 – Benefit-in-Kind – Employer-Provided Vehicles https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0542020.aspx
Revenue eBrief No. 055/20 – Betting Duty Returns and Payments Compliance Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0552020.aspx
APRIL 2020
Revenue eBrief No. 056/20 – Research and Development Tax Credit early payment of the instalment due to be paid in 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0562020.aspx
Revenue eBrief No. 057/20 – Guidelines for filing ESS1 returns https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0572020.aspx
Revenue eBrief No. 058/20 – Revenue Online Service – ROS Enhancements https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0582020.aspx
Revenue eBrief No. 059/20 – Deduction for income earned in certain foreign states (Foreign Earnings Deduction) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0592020.aspx
Revenue eBrief No. 060/20 – Vehicle Registration Tax – Valuation System for New and Used Vehicles https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0602020.aspx
Revenue eBrief No. 061/20 – Revised tax treatment of royalty income, with effect from 1 January 2019, under the terms of the Ireland-Lithuania Double Taxation Convention 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0612020.aspx
Revenue eBrief No. 062/20 – Treatment of Additional Tier 1 Capital – section 845C, Taxes Consolidation Act, 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0622020.aspx
Revenue eBrief No. 063/20 – Temporary VAT zero rating of supplies of personal protective equipment, ventilators and other medical products https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0632020.aspx
Revenue eBrief No. 064/20 – Opticians in employment – professional indemnity cover https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0642020.aspx
Revenue eBrief No. 065/20 – Capital acquisitions tax: dwelling house exemption and ‘same event’ credit for CGT against CAT https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0652020.aspx
Revenue eBrief No. 066/20 – Late Submission of Corporation Tax Returns – Restriction of Reliefs https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0662020.aspx
Revenue eBrief No. 067/20 – Tobacco Products Tax Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0672020.aspx
Revenue eBrief No. 068/20 – Guidelines for Article 9 Correlative Adjustment claims https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0682020.aspx
Revenue eBrief No. 069/20 – Diesel Rebate Scheme Compliance Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0692020.aspx
Revenue eBrief No. 070/20 – Capital Gains Tax – interests in trusts, treatment of shares and securities, etc. https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0702020.aspx
Revenue eBrief No. 071/20 – Excise Duty Rates on Energy Products and Electricity Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0712020.aspx
Revenue eBrief No. 072/20 – Tax and Duty Manual Part 15-01-18 – One Parent Family Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0722020.aspx
MAY 2020
Revenue eBrief No. 073/20 – Exemption in respect of compensation for certain living donors https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0732020.aspx
Revenue eBrief No. 074/20 – Special Assignee Relief Programme (SARP) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0742020.aspx
Revenue eBrief No. 075/20 – Temporary Wage Subsidy Scheme (TWSS) – Operational Phase https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0752020.aspx
Revenue eBrief No. 076/20 – Capital Gains Tax – rate of charge, annual exempt amount, computation of companies’ chargeable gains etc. https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0762020.aspx
Revenue eBrief No. 077/20 – The application of the Capital Goods Scheme and the VAT treatment of Donations or Gifts of goods or meals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0772020.aspx
Revenue eBrief No. 078/20 – Tax treatment of the reimbursement of expenses of travel and subsistence to office holders and employees https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0782020.aspx
Revenue eBrief No. 079/20 – VAT RTD – Introduction of Automated Compliance Measures https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0792020.aspx
Revenue eBrief No. 080/20 – Horticultural Repayment Relief Guide https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0802020.aspx
Revenue eBrief No. 081/20 – Importation and exportation of medicinal products and unauthorised or counterfeit medical preparations https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0812020.aspx
Revenue eBrief No. 082/20 – Service companies surcharge – Provision of medical staff, Guidance from professional bodies, Preparatory work https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0822020.aspx
Revenue eBrief No. 083/20 – Temporary measures in relation to the close company surcharge https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0832020.aspx
Revenue eBrief No. 084/20 – Domicile Levy and Capital Gains Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0842020.aspx
Revenue eBrief No. 085/20 – Solid Fuel Carbon Tax Compliance Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0852020.aspx
Revenue eBrief No. 086/20 – Guide to Excise Licences https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0862020.aspx
Revenue eBrief No. 087/20 – Update – Public Consultation on Dividend Withholding Tax (DWT) – Real-Time Reporting https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0872020.aspx
Revenue eBrief No. 088/20 – Charities VAT Compensation Scheme – extension to closing date for submitting claims https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0882020.aspx
Revenue eBrief No. 089/20 – Individuals described as ‘locums’ engaged in the fields of medicine, health care and pharmacy https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0892020.aspx
Revenue eBrief No. 090/20 – Updates to Revenue’s services for customers with disabilities, including a remote interpretation service for Revenue’s deaf customers. https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0902020.aspx
Revenue eBrief No. 091/20 – The European Convention on Human Rights Act 2003 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0912020.aspx
Revenue eBrief No. 092/20 – Health Expenses – Qualifying Expenses https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0922020.aspx
Revenue eBrief No. 093/20 – Childcare services relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0932020.aspx
Revenue eBrief No. 094/20 – Income Tax Relief for Medical and/or Dental Insurance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0942020.aspx
Revenue eBrief No. 095/20 – Receiver of Wreck https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0952020.aspx
Revenue eBrief No. 096/20 – Commercial Sea Navigation Relief Guide https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0962020.aspx
JUNE 2020
Revenue eBrief No. 097/20 – Allowances for Scientific Research https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0972020.aspx
Revenue eBrief No. 098/20 – Pensions Manual Amended https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0982020.aspx
Revenue eBrief No. 099/20 – Pensions Manual Chapter 16 – Group Schemes https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0992020.aspx
Revenue eBrief No. 100/20 – Sugar Sweetened Drinks Tax Compliance Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1002020.aspx
Revenue eBrief No. 101/20 – Compliance Programme for Agent Services representing PAYE Taxpayers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1012020.aspx
Revenue eBrief No. 102/20 – Taxation of Maternity Benefit, Paternity Benefit, Parent’s Benefit, Adoptive Benefit and Health and Safety Benefit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1022020.aspx
Revenue eBrief No. 103/20 – Income from scholarships https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1032020.aspx
Revenue eBrief No. 104/20 – Employed person taking care of an incapacitated individual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1042020.aspx
Revenue eBrief No. 105/20 – High Income Individuals’ Restriction – Tax Year 2010 onwards https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1052020.aspx
Revenue eBrief No. 106/20 – Update – Temporary Wage Subsidy Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1062020.aspx
Revenue eBrief No. 107/20 – ROS Form CT1 2020 – the CT return for accounting periods ending in 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1072020.aspx
Revenue eBrief No. 108/20 – Remote Bookmakers Licence https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1082020.aspx
Revenue eBrief No. 109/20 – Instruction Manual on End-Use Procedure https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1092020.aspx
Revenue eBrief No. 110/20 – VAT treatment of betting and gaming https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1102020.aspx
Revenue eBrief No. 111/20 – Third Party Returns: Requirement to Report Information Automatically https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1112020.aspx
Revenue eBrief No. 112/20 – The VAT Treatment of Medical Services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1122020.aspx
Revenue eBrief No. 113/20 – The VAT treatment of Charitable Donations via SMS https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1132020.aspx
Revenue eBrief No. 114/20 – Registration of Gas and Oil Exploration Companies https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1142020.aspx
Revenue eBrief No. 115/20 – Exchange of Information https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1152020.aspx
Revenue eBrief No. 116/20 – Road Haulier Drivers (Employees) – Subsistence Rates https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1162020.aspx
Revenue eBrief No. 117/20 – Temporary Wage Subsidy Scheme – Extension of the Temporary Wage Subsidy Scheme to August 2020 and update on a range of developments under the Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1172020.aspx
Revenue eBrief No. 118/20 – eCG50 – Guide for Applicants https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1182020.aspx
Revenue eBrief No. 119/20 – Compensation Payments in respect of Personal Injuries (Exemption of Investment Income) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1192020.aspx
Revenue eBrief No. 120/20 – TDM Part 07-01-20 – Special Trusts for permanently incapacitated individuals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1202020.aspx
Revenue eBrief No. 121/20 – Pay as You Earn (PAYE) system – Employee payroll tax deductions in relation to non-Irish employments exercised in the State https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1212020.aspx
Revenue eBrief No. 122/20 – Stamp duty: associated companies relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1222020.aspx
Revenue eBrief No. 123/20 – Disclosure of confidential taxpayer information: section 851A Taxes Consolidation Act 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1232020.aspx
Revenue eBrief No. 124/20 – Capital Gains Tax – Treatment of allowable losses https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1242020.aspx
Revenue eBrief No. 125/20 – Games and Sports Bodies Exemptions https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1252020.aspx
Revenue eBrief No. 126/20 – Research and Development (R&D) Credit: Appointment of expert to assist in audits https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1262020.aspx
Revenue eBrief No. 127/20 – Exchange of Information – Deferral of DAC6 filing deadlines https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1272020.aspx
Revenue eBrief No. 128/20 – Chapters 6 and 11 of the Revenue Pensions Manual – pensions in payment https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1282020.aspx
Revenue eBrief No. 129/20 – Revenue Pensions Manual – Chapter 12: Withdrawal from service (leaving a pension scheme) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1292020.aspx
Revenue eBrief No. 130/20 – Budget Excise Duty Rates Manuals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1302020.aspx
Revenue eBrief No. 131/20 – Exemption of Certain Childcare Support Payments https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1312020.aspx
JULY 2020
Revenue eBrief No. 132/20 – Research and Development (R&D) Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1322020.aspx
Revenue eBrief No. 133/20 – MyEnquiries – customer tracking of enquiries and other updates https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1332020.aspx
Revenue eBrief No. 134/20 – EU mandatory disclosure regime (DAC6) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1342020.aspx
Revenue eBrief No. 135/20 – Stamp duty: shares deriving value from immovable property and cancellation schemes of arrangement https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1352020.aspx
Revenue eBrief No. 136/20 – Capital Gains Tax – Capital Gains Tax – updates to manuals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1362020.aspx
Revenue eBrief No. 137/20 – Guidance on Part 35C hybrid mismatches https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1372020.aspx
Revenue eBrief No. 138/20 – Guidelines on the processing of online tax evasion reports https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1382020.aspx
Revenue eBrief No. 139/20 – Corporation Tax Statement of Particulars – Section 882 TCA 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1392020.aspx
Revenue eBrief No. 140/20 – Charities VAT Compensation Scheme – reminder re closing date for submission of claims https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1402020.aspx
Revenue eBrief No. 141/20 – Administrative cooperation and combating fraud in the field of Value-Added Tax (VAT) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1412020.aspx
Revenue eBrief No. 142/20 – Temporary VAT measures relating to Covid-19 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1422020.aspx
Revenue eBrief No. 143/20 – Using on-line methods to make a payment to Revenue https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1432020.aspx
Revenue eBrief No. 144/20 – High Income Individuals’ Restriction: Interaction with Clawback of “Section 23 Type” Relief in Death Cases https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1442020.aspx
Revenue eBrief No. 145/20 – Relief for increase in carbon tax on farm diesel (section 664A TCA 1997) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1452020.aspx
Revenue eBrief No. 146/20 – Payment of Preliminary Corporation Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1462020.aspx
Revenue eBrief No. 147/20 – Guidelines for staff regarding the treatment of unsolicited information received from members of the public https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1472020.aspx
AUGUST 2020
Revenue eBrief No. 148/20 – Archiving of Manuals under Part 41 Taxes Consolidation Act 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1482020.aspx
Revenue eBrief No. 149/20 – Income tax relief for self-employed individuals adversely impacted by Covid-19 restrictions https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1492020.aspx
Revenue eBrief No. 150/20 – July Jobs Stimulus – Accelerated loss relief for companies https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1502020.aspx
Revenue eBrief No. 151/20 – Investment Undertakings https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1512020.aspx
Revenue eBrief No. 152/20 – Amendments to the Cycle to Work Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1522020.aspx
Revenue eBrief No. 153/20 – Help to Buy (HTB) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1532020.aspx
Revenue eBrief No. 154/20 – Childcare services relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1542020.aspx
Revenue eBrief No. 155/20 – Charities VAT Compensation Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1552020.aspx
Revenue eBrief No. 156/20 – Tax treatment of the reimbursement of expenses of travel and subsistence to office holders and employees https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1562020.aspx
Revenue eBrief No. 157/20 – Income Tax return form 2019 – ROS Form 11 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1572020.aspx
Revenue eBrief No. 158/20 – Tax and Duty Manuals on temporary loss reliefs for taxpayers (July jobs stimulus measure) updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1582020.aspx
Revenue eBrief No. 159/20 – Customs Import Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1592020.aspx
Revenue eBrief No. 160/20 – Schedule of Customs Duties Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1602020.aspx
Revenue eBrief No. 161/20 – Instruction Manual on Outward Processing https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1612020.aspx
Revenue eBrief No. 162/20 – Capital Acquisitions Tax: miscellaneous issues https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1622020.aspx
Revenue eBrief No. 163/20 – Stamp Duty: relief for young trained farmers and certain leases of farmland https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1632020.aspx
Revenue eBrief No. 164/20 – Stay and Spend Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1642020.aspx
Revenue eBrief No. 165/20 – Certain Foreign Pensions – manual updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1652020.aspx
SEPTEMBER 2020
Revenue eBrief No. 166/20 – Inward Processing Instruction Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1662020.aspx
Revenue eBrief No. 167/20 – PAYE Anytime manual archived https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1672020.aspx
Revenue eBrief No. 168/20 – Standard for Automatic Exchange of Financial Account Information in Tax Matters – The Common Reporting Standard (CRS) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1682020.aspx
Revenue eBrief No. 169/20 – Life Assurance Companies and Group Relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1692020.aspx
Revenue eBrief No. 170/20 – Customs Export Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1702020.aspx
Revenue eBrief No. 171/20 – Revenue replaces the Inland Revenue Affidavit (CA.24) with new online Form https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1712020.aspx
Revenue eBrief No. 172/20 – Customs Import Procedures https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1722020.aspx
Revenue eBrief No. 173/20 – Examinership Guidelines https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1732020.aspx
Revenue eBrief No. 174/20 – Extension of Pay & File Deadline for ROS Customers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1742020.aspx
Revenue eBrief No. 175/20 – VRT Online Payments in ROS and MyAccount https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1752020.aspx
Revenue eBrief No. 176/20 – Tax and Duty Manual on income tax relief for losses incurred in a trade or profession updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1762020.aspx
Revenue eBrief No. 177/20 – Waiver of Excise Duty on on-trade liquor licences on renewal in 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1772020.aspx
Revenue eBrief No. 178/20 – Air Travel Tax Manual archived https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1782020.aspx
Revenue eBrief No. 179/20 – Relief for certain income from leasing of farm land (Section 664) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1792020.aspx
OCTOBER 2020
Revenue eBrief No. 180/20 – Extension of deadline to avail of a 3% reduced rate of interest on outstanding ‘non-Covid-19’ tax debts https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1802020.aspx
Revenue eBrief No. 181/20 – Late filings of Form S.110 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1812020.aspx
Revenue eBrief No. 182/20 – Guidelines for Registration for IT, CT, RCT, PREM and Certain Minor Taxheads https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1822020.aspx
Revenue eBrief No. 183/20 – Update to Guidelines for VAT Registration https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1832020.aspx
Revenue eBrief No. 184/20 – Cancellation of Tax Registration https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1842020.aspx
Revenue eBrief No. 185/20 – ROS Pay and File 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1852020.aspx
Revenue eBrief No. 186/20 – VAT Treatment of Education and Vocational Training https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1862020.aspx
Revenue eBrief No. 187/20 – Tobacco Products Tax Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1872020.aspx
Revenue eBrief No. 188/20 – Budget 2021 – Excise Duty Rates – https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1882020.aspx
Revenue eBrief No. 189/20 – PAYE Services: Review Your Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1892020.aspx
Revenue eBrief No. 190/20 – Budget 2021 – Income Tax Warehousing https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1902020.aspx
Revenue eBrief No. 191/20 – Vehicle Registration Tax Manual – Section 1 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1912020.aspx
Revenue eBrief No. 192/20 – Guidance Manual on Comprehensive Guarantee https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1922020.aspx
Revenue eBrief No. 193/20 – e-Working and Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1932020.aspx
Revenue eBrief No. 194/20 – Accounting for Mineral Oil https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1942020.aspx
Revenue eBrief No. 195/20 – Taxation of Guardian’s Payment (Contributory) and Guardian’s Payment (Non-Contributory) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1952020.aspx
Revenue eBrief No. 196/20 – Temporary VAT measures relating to Covid-19 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1962020.aspx
Revenue eBrief No. 197/20 – Budget 2021 – Changes to the Value Added Tax rates on the supply of certain goods and services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1972020.aspx
Revenue eBrief No. 198/20 – Excise Duty Rates on Energy Products and Electricity Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1982020.aspx
Revenue eBrief No. 199/20 – Customs Manual on Import VAT https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1992020.aspx
NOVEMBER 2020
Revenue eBrief No. 200/20 – EU Mandatory Disclosure of Reportable Cross-Border Arrangements https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2002020.aspx
Revenue eBrief No. 201/20 – Guidelines for Agents or Advisors Acting on Behalf of Taxpayers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2012020.aspx
Revenue eBrief No. 202/20 – Research and Development Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2022020.aspx
Revenue eBrief No. 203/20 – ROS Support for the 2020 Pay and File Period, Extended Opening Hours and Income Tax Warehousing https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2032020.aspx
Revenue eBrief No. 204/20 – Tobacco products imported in passengers’ accompanied baggage https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2042020.aspx
Revenue eBrief No. 205/20 – Revenue Online Service – Pay and File 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2052020.aspx
Revenue eBrief No. 206/20 – VAT Treatment of the Hiring of Means of Transport https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2062020.aspx
Revenue eBrief No. 207/20 – Import Duties Payment Methods https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2072020.aspx
Revenue eBrief No. 208/20 – VAT eCommerce Rules – 1 July 2021 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2082020.aspx
Revenue eBrief No. 209/20 – Return Filing Dates – Forms 11 and CT1 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2092020.aspx
Revenue eBrief No. 210/20 – Automated Import System (AIS) Introduction https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2102020.aspx
Revenue eBrief No. 211/20 – Return of Values – Investment Undertakings https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2112020.aspx
Revenue eBrief No. 212/20 – Irish Real Estate Fund (IREF) Guidance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2122020.aspx
Revenue eBrief No. 213/20 – Surcharge on undistributed income of service companies https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2132020.aspx
Revenue eBrief No. 214/20 – Review of Opinions/Confirmations https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2142020.aspx
Revenue eBrief No. 215/20 – Professional Services Withholding Tax: Interim Refunds https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2152020.aspx
Revenue eBrief No. 216/20 – Country by Country reporting – updates to CbC User Guide and CbC XML Schema https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2162020.aspx
DECEMBER 2020
Revenue eBrief No. 217/20 – Capital Acquisitions Tax – valuation date, contingent events and qualifying expenses of incapacitated persons https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2172020.aspx
Revenue eBrief No. 218/20 – Omnibus Station Licence duty amended https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2182020.aspx
Revenue eBrief No. 219/20 – Guidelines on Irish Bankruptcy Procedures https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2192020.aspx
Revenue eBrief No. 220/20 – Manual on Civil Aviation https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2202020.aspx
Revenue eBrief No. 221/20 – Income Tax Relief for Medical and/or Dental Insurance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2212020.aspx
Revenue eBrief No. 222/20 – Automated Import System (AIS) – manuals updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2222020.aspx
Revenue eBrief No. 223/20 – Filing Guidelines for DAC2-Common Reporting Standard (CRS) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2232020.aspx
Revenue eBrief No. 224/20 – DWT: Obligation on certain persons to obtain tax reference numbers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2242020.aspx
Revenue eBrief No. 225/20 – Guidance Manual on Customs Simplified Procedures https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2252020.aspx
Revenue eBrief No. 226/20 – Large Corporates Division: Co-Operative Compliance Framework https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2262020.aspx
Revenue eBrief No. 227/20 – VAT Treatment of Guest and Holiday Accommodation https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2272020.aspx
Revenue eBrief No. 228/20 – EU mandatory disclosure regime (DAC6) – Updates to XSD file and User Guide https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2282020.aspx
Revenue eBrief No. 229/20 – Relief for investment in corporate trades https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2292020.aspx
Revenue eBrief No. 230/20 – VAT – Postponed Accounting https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2302020.aspx
Revenue eBrief No. 231/20 – VAT Treatment of Restaurant and Catering Services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2312020.aspx
Revenue eBrief No. 232/20 – Update on certain COVID-19 measures related to personal tax matters https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2322020.aspx
Revenue eBrief No. 233/20 – Transfers of assets, other than trading stock, within group (S.617) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2332020.aspx
Revenue eBrief No. 234/20 – Finance Act 2020 – VAT Notes for Guidance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2342020.aspx
Revenue eBrief No. 235/20 – Filing Guidelines for DAC6 (EU Mandatory Disclosure of Reportable Cross-Border Arrangements) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2352020.aspx
Revenue eBrief No. 236/20 – Research and Development Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2362020.aspx
Revenue eBrief No. 237/20 – Guidelines for VAT Registration – with Postponed Accounting https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2372020.aspx
Revenue eBrief No. 238/20 – EU mandatory disclosure regime (DAC6) tax and duty manual updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2382020.aspx
Revenue eBrief No. 239/20 – Sea-going Naval Personnel Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2392020.aspx
Revenue eBrief No. 240/20 – Earned Income Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2402020.aspx
Revenue eBrief No. 241/20 – Collection of Customs Debt https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2412020.aspx
Revenue eBrief No. 242/20 – Customs Procedures – Manuals update https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2422020.aspx
Revenue eBrief No. 243/20 – Help to Buy (HTB) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2432020.aspx
Revenue eBrief No. 244/20 – Section 56 Zero-rating of Goods and Services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2442020.aspx
Revenue eBrief No. 245/20 – Childcare services relief updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2452020.aspx
Please be aware that the information contained in this article is of a general nature. It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.
BUDGET 2019 – Tax Changes
Budget 2019 – Tax changes under Income Tax, Business Taxes, VAT, CAT, CGT, property Taxes – Property, Investment and Agricultural Sectors
The Minister for Finance, Public Expenditure and Reform Paschal Donohoe T.D. delivered Budget 2019 today, 9th October 2018. From 1st January 2019 there will be a considerable number of tax changes in relation to Business Tax, Income Tax, Employment Taxes, Property and Construction, VAT, Agricultural Sector and Capital Acquisitions Tax.
PERSONAL TAX
A number of changes aimed at easing the tax burden on low and middle income earners were announced in this year’s budget which include the following:
INCOME TAX
The income tax standard rate band will increase by €750 for a single earner.
This will raise the entry point to the 40% income tax rate
a) from €34,550 to €35,300 for single earners and
b) from €43,550 to €44,300 for married couples (with one earner).
The marginal rate of tax on income on earnings up to €70,044 per annum is now 48.5%.
The marginal rate of tax for those earning over €70,044 will remain at
a) 52% for employees and
b) 55% for self-employed individuals earning in excess of €100,000.
BENEFIT IN KIND
The 0% rate on BIK on electric cars has been extended to 2021 subject to a €50,000 cap in car value.
UNIVERSAL SOCIAL CHARGE
There will be a reduction in the third band of USC from 4.75% to 4.5%.
There will be an increase of €502 in the existing lower band of USC. This is worth a maximum of €139 per annum. In other words, the band to which the 2% USC rate applies will be increased from €19,372 to €19,874.
TAX CREDITS
There will be a €200 increase in the Earned Income Credit for the Self Employed from €1,150 to €1,350.
There will be a €300 increase in the home carer credit from €1,200 to €1,500. This credit can be claimed by a jointly assessed couple where one spouse/civil partner works in the home to care for children or other dependents, as defined.
PRSI
The weekly income threshold for the higher rate of employer’s PRSI will be increase from €376 per week (€19,552 per annum) to €386 per week (€20,072 per annum).
There will be a 0.1% increase in employers’ PRSI in 2019 from 10.85% to 10.95% and from 10.95 to 11.05% in 2020.
The National Training Fund Levy will increase from 0.8% to 0.9% from 1st January 2019. The levy forms part of employer’s PRSI for Class A and Class H employments.
BUSINESS TAX
The corporate rate remains at 12.5%, as expected. A number of Business Tax Reliefs were amended as follows:
Key Employee Engagement Programme (KEEP)
There are Increases to the KEEP scheme. The scheme provides for tax relief for certain share remuneration provided to key employees by unquoted SMEs. The three separate amendments are as follows:
- The ceiling on the maximum annual market value of shares that can be awarded must equate to the full amount of the employee’s salary.
- A replacement of the three-year limit with a lifetime limit.
- An increase in the value of shares granted under the scheme from €250,000 to €300,000.
Further clarification on these measures is expected in the forthcoming Finance Bill.
Film Relief
Film relief which was due to expire at the end of 2020, has been extended until 2024.
Three Year Start Up relief
The Start up Relief from corporation tax has been extended until end of 2021.
Controlled Foreign Company (CFC) rules
Controlled foreign corporation rules are to take effect from 1st Jan 2019.
Capital Gains Tax Exit Tax
CGT Exit Tax at 12½% is to apply from midnight on 9th October 2018 for companies ceasing to be Irish tax resident on any unrealised capital gains arising as well as in situations where the company transfers assets out the State. This new exit tax regime is to ensure compliance with the EU Anti-Tax Avoidance Directive (ATAD) by 1st January 2020.
AGRICULTURAL SECTOR
Income averaging
The Minister has proposed removing the restriction on income averaging for farmers with income from a non-farming source.
The current situation is that where a farmer or his/her spouse
a) carries out another trade or profession or
b) owns more than 25% of the share capital of a trading company
then they cannot avail of the income averaging provisions.
Stamp Duty Relief for Young Trained Farmers
The Young Trained Farmer Stamp Duty Relief which was due to expire at the end of 2018 will be extended for a further three years to 31st December 2021.
Stock Relief
The current stock relief measures will be extended for a further 3 years up to and including 31st December 2021.
PROPERTY TAX
Interest relief for landlords
Interest relief on loans used to purchase, improve or repair a rental property will be increased from 85% in 2018 to 100% in 2019.
Review of local property tax
Any future changes will be moderate and affordable.
INDIRECT TAX
The Minister confirmed that the reduced 9% VAT rate which applies to certain tourism activities will be increased 13½% from 1st January 2019.
The 9% VAT rate which applies to the provision of facilities for taking part in sporting activities is being retained.
The 9% VAT rate which applies to certain printed matter will also be retained, e.g. newspapers
The VAT rate on e-books and electronically supplied newspapers will be reduced from 23% to 9% with effect from 1st January 2019.
CAPITAL ACQUISITIONS TAX
CAT Threshold
The CAT Group A tax free threshold has been increased to €320,000 for gifts and inheritances received on or after 10th October 2018.
Group A generally applies to gifts and inheritances from parents to their children.
Additional Measures
- The VRT relief available for hybrid vehicles including plug-in electric hybrids is being extended for one year i.e. until 31st December 2019.
- A 1% VRT surcharge will apply to diesel engine passenger vehicles registered in Ireland from 1st January 2019. This VRT rate is being introduced across all VRT bands.
- Betting Duty on bets entered into by a bookmaker with an individual in Ireland will be increased from 1% to 2% effective from 1st January 2019.
- From 1st January 2019, the duty on commissions earned by betting exchanges or intermediaries which are used by persons in Ireland will be increased from 15% to 25%.
- The measure to allow accelerated capital allowances for employer provided fitness and childcare facilities, as introduced by Finance Bill 2017, will now take effect from 1st January 2019.
- An accelerated capital allowances scheme will be introduced for refuelling equipment and gas propelled vehicles.
For further information, please click:
https://www.oireachtas.ie/en/debates/debate/dail/2018-10-09/3/
Please be aware that the information contained in this article is of a general nature. It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.