Ireland amends Capital Acquisitions Tax manual
On 12 June 2017 the Irish Revenue published the amended Capital Acquisitions Tax manual dealing with business relief. This involves changes to Part 12 to incorporate material from Tax Briefing No. 33 (September 1998) in relation to the treatment of
See MoreIreland: Interaction of PAYE and Self Assessment Procedures
On 12 June 2017 the Irish Revenue published the amended Part 42-04-13 of the Income Tax, Capital Gains Tax and Corporation Tax Manual. The amendments reflect the changes to the income thresholds which are applied in determining whether an
See MoreIreland: Charges on income for corporation tax purposes
On 12 June 2017, the Irish Revenue published updates to the Tax and Duty Manual Part 08-02-01 dealing with charges on income for Corporation Tax purposes. The principal updates are in relation to interest as a charge on income under section 247
See MoreIreland: New Tax-Geared Penalties for Non-Submission of Returns
On 12 June 2017, Irish Revenue published the manual Tax-Geared Penalties for Non-Submission of Returns, that provides guidance as to the application of tax-geared penalties under section 1077E TCA 1997 in circumstances where the taxpayer has
See MoreIreland: New tax treatment of certain dividends
On 12 June 2017, Irish Revenue published Tax and Duty Manual Part 02-02-03a that deals with the tax treatment of certain foreign dividends paid out of trading profits, which in accordance with section 21B Taxes Consolidation Act 1997, may be
See MoreIreland updates Tax and Duty Manual
On 12 June 2017, Irish Revenue published the amended Tax and Duty Manual Company Incorporation – Economic Activity to reflect updated legislative references in the Companies Act 2014 and revised contact
See MoreHong Kong: AEOI agreement with Ireland
Hong Kong has signed an agreement with Ireland for conducting automatic exchange of financial account information in tax matters (AEOI) from 2018 onwards, a Government spokesman said on June 8, 2017. The spokesman added that they have been seeking
See MoreIreland: Surcharge on certain undistributed income of close companies
On 8 June 2017, Irish Revenue published the Tax and Duty Manual Part 13-02-05 which deals with the close company surcharge under section 440 TCA 1997, has been updated. The Manual explains that capital allowances are not deductible against estate
See MoreIreland: DAC2/CRS return deadline extended
The Irish revenue has delayed the filing deadline for DAC2/CRS returns until 18 August 2017. As the opportunity to begin filing is delayed, revenue reminds customers that the Registration facility for DAC2/CRS is still fully operational and
See MoreIreland signs MLI to prevent tax avoidance
On 7 June 2017, Finance Minister Mr. Michael Noonan T.D. has signed the OECD Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Instrument” or “MLI”) on behalf of
See MoreIreland: DTA negotiation with Kosovo
The first round of negotiation of Double Taxation Agreement (DTA) between Ireland and Kosovo are underway for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreKazakhstan, Ireland sign the DTA
On 26th of April 2017, the Double Taxation Agreement (DTA) between Ireland and Kazakhstan was signed by the Governments of Kazakhstan and Ireland for the avoidance of double taxation and prevention of tax evasion concerning income taxes. From the
See MoreIrish Revenue publishes Guidance for 2016 Pay and File self-assessment returns
On 15 March 2017, Irish Revenue published the Guide to Completing 2016 Pay & File Self-Assessment Returns which aims to assist individuals taxed under the self-assessment system in filing their 2016
See MoreIreland: MoF issues a Consultation Paper on review of corporation tax code
On 21 February 2017, the Ministry of Finance (MoF) published a public consultation paper on the review of the corporation tax code. The review, which is to be undertaken by an independent expert, will be conducted in consideration of the following
See MoreIreland updates FED manual
On 15 February 2017, Revenue department of Ireland published an E-brief 15/17, on the update of the Tax and Duty Manual. Tax & Duty Manual Part 34-00-09 in relation to Foreign Earnings Deduction (FED) has been updated to reflect changes made
See MoreMinister of Finance: Ireland is going to sign up to MLI
On 16 February 2017, Mr. Michael James Noonan, the Irish Minister of Finance gave a speech in which he illustrated some of the main issues of action to be followed by Ireland in the field of international taxation. He stressed Ireland's commitment
See MoreIreland: Updates for Implementing EU and OECD Exchange of Information Requirements
On 2 February 2017, Revenue published eBrief 12/17, which explains the updates introduced in the tax and duty manual regarding exchange of information requirements in respect of tax rulings. The key updates are following: Section 1 of the tax and
See MoreSingapore, Ireland TIEA enters into force
On 31 January 2017, the Tax Information Exchange Agreement (TIEA) between Singapore and Ireland was entered into force. This Agreement provides for the effective exchange of information regarding tax matters between the tax authorities including
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