Singapore-signed competent authority agreement on automatic exchange of information with Ireland
The government of Singapore signed the Competent Authority Agreement on Automatic Exchange of Information (2016) with Ireland on 20 December 2016. The Agreement stipulates details about what information would be exchanged and when according to OECD
See MoreIreland: CbC reporting notification deadline
On 1 January 2016, Ireland’s new Country-by-Country (CbC) reporting requirements took effect. The Irish CbC requirements require certain Irish parented groups, and in specific instances, domestic subsidiaries of foreign parented groups, to report
See MoreIreland Revenue encourages taxpayers to claim their tax back before 31 December
Many PAYE workers can claim tax back, for example on health expenses, nursing home fees, tuition fees or flat-rate expenses. However, it is important to remember that there is a 4 year time limit to submit your claim. Last October, Revenue wrote to
See MoreIreland/UK DTA, Certification of ‘Form IRL-Individual’ and ‘Form Ireland-Company’
Under the Ireland/UK Double Taxation Agreement (DTA), Irish resident individuals and companies may claim relief at source or repayment of tax from the HM Revenue and Customs (HMRC), in respect of UK tax on certain sources of income. The sources of
See MoreIreland: Finance Bill 2016
On 20 October 2016, Finance Bill 2016 was published. The most important of those measures are summarized below: Corporate tax A 20% withholding tax (WHT) deduction on property distribution to non-resident investors will be imposed on IREFs. The WHT
See MoreIreland published new APA guidelines
The Irish Revenue published bilateral advance pricing agreement guidelines on June 23 relating to the operation of Ireland’s APA program, which is effective for applications received on or after July 1, 2016. The guidance outlines the framework of
See MoreIreland imposed surcharge for late returns
On 14 April 2016, the Irish Revenue published eBrief on the surcharge for late submission of returns. Section 1084 TCA 1997 imposes a surcharge on any taxpayer, individual or corporate, for the late filing of a tax return. If a return is not
See MoreIreland: Advance pricing agreement regime announced
The Irish revenue authority has announced that it will introduce a formal Advance Pricing Agreement (APA) program and are expected to be published in 2016. Ireland has accepted and concluded bilateral advance pricing agreements (APAs) for many years
See MoreCountry-by-country reporting is enacted in Ireland
On 22 December 2015, the president of Ireland signed into law Finance Act 2015 that includes rules following the OECD's recommended country-by-country (CbC) reporting requirements. The Finance Act provision closely mirrors the OECD’s recommended
See MoreIreland’s Revenue published the Manual on role of the competent authority
On 9 November 2015, the Irish Revenue issued a manual regarding the role of the Irish competent authority in resolving international tax disputes and ensuring the correct allocation of taxable profits to Ireland. Mutual agreement procedures
See MoreIreland: Budget 2016 announced
On 13 October 2015, the Finance Minister of Ireland announced Budget proposals for 2016 in the context of the country being the fastest growing economy in Europe for 2015, with GDP growth at 6.2%. The Minister also published a document
See MoreIreland explains approach to VAT and portfolio management services
Following the European Court of Justice (ECJ) decision in the Deutsche Bank case concerning the value added tax (VAT) treatment of portfolio management services the Irish Revenue issued an eBrief on 4 September 2015 to explain its approach to the
See MoreIrish Revenue clarifies effect of ECJ decisions on VAT rules
On 17 July 2015 the Irish Revenue issued eBrief 73/15 outlining the practical implications of certain decisions of the European Court of Justice (ECJ) in value added tax (VAT) cases. The issues are related to VAT issues for pension funds. Supply of
See MoreIreland: IMF comments on fiscal position
The IMF has held consultations with Ireland in connection with Article IV of its articles of agreement and a Concluding Statement has been published setting out the preliminary findings of its staff. The IMF considers that the high economic growth
See MoreDTA between Ireland and Zambia signed
The income tax treaty between Ireland and Zambia was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Lusaka on 31 March 2015. Once in force and effective, the new treaty will
See MoreDTA between Ireland and Pakistan signed
The Income Tax Treaty between Ireland and Pakistan was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Dublin on 16 April 2015. Once in force and effective, the new treaty will
See MoreProtocol to DTA between Ireland and Luxembourg approved by Luxembourg
On 2 April 2015, the Council of Ministers of Luxembourg approved the amending protocol to the income and capital tax treaty with Ireland that signed on 27 May 2014. The protocol is submitted to parliament for final
See MoreIreland: IMF comments on fiscal policy
The International Monetary Fund (IMF) has issued a report following discussions with the Irish government under Article IV of the IMF’s articles of agreement. The IMF notes that Ireland has made a robust recovery with economic growth around 5% in
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