Ireland, Oman income tax treaty enters into force
The income tax treaty between Ireland and Oman entered into force on 18 December 2024. The agreement is for the avoidance of double taxation and pertains to taxes on income and the prevention of tax evasion between the governments of the two
See More
Ireland: Revenue updates guidance on R&D corporation tax credit
The Irish Revenue has published eBrief No. 009/25 on 10 January 2025, providing updated guidance on the Research and Development (R&D) Corporation Tax Credit. Tax and Duty Manual Part 29-02-03 has been updated to reflect the Finance Act 2024
See More
Irish Revenue updated guidance on Finance Act 2024
Irish Revenue updated eBriefs in accordance with amendments introduced by the Finance Act 2024 (Act No. 43 of 2024) which entered into force on 1 January 2025. Tax and Duty Manual Part 15-01-48 - Sea-Going Naval Personnel Tax Credit - has been
See More
Ireland: Revenue issues guidance on new VAT scheme for SMEs
Irish Revenue issued eBrief No. 315/24 on 13 December 2024 which outlines the European Union (EU) Value Added Tax (VAT) scheme for small and medium-sized enterprises (SMEs) effective from 1 January 2025. Currently, Member States can set their
See More
Ireland: Revenue issues new guidance on leasing ringfences
Irish Revenue has released eBrief No. 307/24 on 10 December 2024, providing new guidance on leasing ringfences, outlined in the Tax and Duty Manual 12-04-02 – Leasing Ringfences – Sections 403 and 404 of the Taxes Consolidation Act 1997. The
See More
Ireland: Revenue releases guidance on new tax deduction for stock exchange listing costs
The Irish Revenue published eBrief No. 302/24 on 6 December 2024, detailing a new corporation tax relief under Section 81D TCA 1997. Companies can claim up to EUR 1 million in tax deductions for expenses incurred in their first stock exchange
See More
Ireland: Revenue updates guidance on anti-hybrid rules
The Irish Revenue has released eBrief No. 303/24, providing updated guidance on anti-hybrid rules on 10 December 2024. The purpose of anti-hybrid rules is to prevent arrangements that exploit the differences in the tax treatment of an instrument
See More
Ireland: Central Bank warns US tax policy could swing government finances into a deficit
The Irish Central Bank has cautioned that changes in US tax policy could reduce corporate tax revenues from American companies operating in Ireland. In its quarterly bulletin, the bank noted that these firms contribute a substantial portion of
See More
Ireland: Revenue updates DST tax manual
The Irish Revenue has released eBrief No. 301/24, which provides an update to the Tax and Duty Manual (TDM) Part 04-06-03, effective 5 December 2024. This update confirms Revenue's acceptance of certain Digital Services Taxes (DSTs) as deductible
See More
Ireland: Revenue issues eBrief on VAT updates in Finance Act 2024
The Irish Revenue has released eBrief No. 297/24 on 4 November 2024 regarding the VAT Notes for Guidance under the Finance Act 2024. Interpretation (Part 3) This section defines the Principal Act as the Value-Added Tax Consolidation Act
See More
Ireland: revenue issues vat updates on share transactions, trading platforms, and stock exchange fees
The Irish Revenue issued two updates, eBrief No. 298/24 and eBrief No. 299/24 on 5 December 2024, aimed at enhancing understanding of VAT regulations for financial activities, including share transactions, trading platforms, and stock exchange
See More
Ireland: Revenue updates guidance on pre-letting expense deduction for vacant residential properties
The Irish Revenue Commissioners issued Revenue eBrief No. 300/24 on 5 December 2024, providing updated guidance on deducting pre-letting expenses for vacant residential premises. This update reflects changes to Section 97A of the Taxes Consolidation
See More
Ireland: Revenue clarifies interest deduction restrictions for intercompany loans
The Irish Revenue Commissioners released eBrief No. 289/24 on 27 November 2024, clarifying restrictions surrounding interest deductions for intercompany loans. The update explains which subsidiary companies are no longer able to claim deductions
See More
Ireland: Revenue revises guidance on Interest Limitation Rule
Irish Revenue has published eBrief No. 292/24 updated guidance on the Interest Limitation Rule on 29 November 2024. This includes revisions to sections 8 and 9 of the guidance, reflecting changes introduced by the Finance Act 2024. In sections 8
See More
Ireland clarifies interest deductions for connected party loans
Irish Revenue has published a new Tax and Duty Manual – Part 36-00-19 Interest on loans to defray money applied for certain purposes 27 November 2024, providing guidance on section 840A TCA 1997. Section 840A is an anti-avoidance provision
See More
Ireland gazettes Finance Act 2024
Ireland has published the Finance Act 2024 (Act No. 43 of 2024) in the Official Gazette. This legislation was enacted on 12 November 2024 and includes provisions introduced in the Budget 2025 along with various administrative and technical
See More
Oman ratifies tax treaty with Ireland
The Sultan of Oman issued a Royal Decree No. 60/2024 ratifying the income tax treaty with Ireland on 19 November 2024. The decree awaits its publication in the Official Gazette of Oman. Earlier, officials from Ireland and Oman signed an income
See More
Ireland: Revenue clarifies interpretation of ‘Control’ in updated tax manual
Irish Revenue has published eBrief No. 277/24 on 12 November 2024, which includes an update to the Tax and Duty Manual Part 01-00-05, providing clarification on the interpretation of "control" in certain contexts. The purpose of this manual is to
See More