Ireland: Finance Minister presents the Budget 2023
On 27 September 2022, Paschal Donohoe, the Finance Minister of Ireland announced the Budget 2023. The main tax measures proposed in budget 2023 include: Income Tax An increase of €3,200 in the income tax standard rate cut-off point for all
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Ireland: Revenue updates guidelines for phased payment arrangements (PPA)
On 21 September 2022, the Irish Revenue published an eBrief No. 174/22 on Instalment Arrangements. Accordingly, the Tax and Duty Manual - Guidelines for Phased Payment Arrangements (PPA) - has been updated. This Guideline outlines Revenue’s
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Ireland: Revenue updates CIT return guide for 2021
On 13 September 2022, the Irish Revenue published an eBrief No. 173/22 related to the corporate income tax (CIT) return guide (Form CT1 2021). The Revenue states that 2021 Form CT1 was released on 16 August 2022. CT1 files started in ROS offline
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Ireland: Revenue issues guidance on attribution of profits to a branch
On 7 September 2022, the Irish Revenue published an eBrief No. 166/22 on the attribution of profits to a branch. Accordingly, Tax and Duty Manual Part 02-02-04a has been issued to provide an overview and guidance in relation to the attribution of
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Ireland: Revenue updates guidance on exchange of information requirements
On 7 September 2022, the Irish Revenue published an eBrief No. 167/22 on revenue arrangements for implementing EU and OECD exchange of information requirements in respect of tax rulings. Accordingly, Tax and Duty Manual Part 35-00-01 (the guidance)
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Ireland includes new countries on the DSTs guidance
On 7 September 2022, the Irish Revenue published an eBrief No. 168/22 on updated Tax and Duty Manual Part 04-06-03, which provides guidance on the tax deductibility of Digital Services Taxes (DSTs). The guidance was updated to include the
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Ireland provides guidance on the tax deductibility of DSTs
On 5 August 2022, the Irish Revenue published an eBrief No. 158/22 on Tax and Duty Manual Part 04-06-03 that provides guidance on the tax deductibility of Digital Services Taxes (DSTs). The purpose of this manual is to outline the rules in relation
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Ireland: Revenue issues eBrief on anti-hybrid rules guidance
On 29 June 2022, the Irish Revenue published an eBrief No. 137/22 to announce a manual to update the guidance on anti-hybrid rules. Accordingly, Tax and Duty Manual Part 35C-00-01 - Guidance on the Anti-hybrid rules - has been updated for
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IMF Report Assesses Ireland’s Economy
On 5 May 2022 the IMF released a report following consultations with Ireland under Article IV of the IMF’s articles of agreement. Ireland’s economic growth reached 13.5% in 2021 but there are downside risks from the increase in energy
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Ireland: Revenue issues an eBrief regarding DAC6
On 1 April 2022, the Revenue published an eBrief No. 078/22, which updates a manual regarding mandatory disclosure of reportable cross-border arrangements (DAC6). This was introduced by Finance Act 2021 and to provide additional guidance on the
See MoreIreland: Revenue issues an eBrief to update a manual on R&D tax credit
On 14 December 2021, the Revenue published an eBrief 226/21, which updates a manual to clarify certain aspects of the Research and Development (R&D) Tax Credit. The following aspects have been updated: to reiterate that measures to enhance
See MoreIreland: Government seeks Public Consultation on CbC tax reporting
On 20 December 2021, the Department of Enterprise, Trade and Employment is seeking the views of stakeholders through a Consultation on the transposition of the new EU directive requiring public country-by-country (CbC) reporting of income tax
See MoreIreland: Revenue updates guidelines for requesting MAP assistance
On 23 December 2021, the Revenue published an eBrief No. 236/21 on the updated Manual for requesting Mutual Agreement Procedure (“MAP”) assistance in Ireland. The Guide has been updated to incorporate Council Directive (EU) 2017/1852 of 10
See MoreIreland: Finance Department releases amendments to Finance Bill 2021
On 12 November 2021, the Finance Minister, Paschal Donohoe T.D., appreciated the approval by Government to a number of Government amendments to be put down at Committee Stage of the Finance Bill 2021. The Minster has decided not to proceed with
See MoreIreland adopts OECD authorized approach for TP of branches
On 21 October 2021, Minister for Finance, Paschal Donohoe TD, published the draft Finance Bill 2021, which underpins the Government’s ongoing support for the economy, particularly in response to the impact of Covid-19. It will introduce the
See MoreIreland: Finance Ministry delivers the Budget 2022
On 12 October 2021, the Finance Ministry presented Budget 2022, which covers the following tax measures: The new minimum effective corporation tax rate will be 15%. However, Ireland will continue to offer the 12.5% rate for businesses with
See MoreIreland: Government publishes Tax Strategy Group Papers prior to Budget 2022
On 16 September 2021, the Finance Department and the Department of Employment Affairs and Social Protection published Tax Strategy Group papers prior to Budget 2022. Some of the changes in the Budget papers are given below: Corporate tax As
See MoreIreland: Revenue updates TP rules for some qualifying companies
On 6 September 2021, the Revenue updated its guidance to assist some qualifying companies in accordance with Section 110 regarding the application of transfer pricing (TP) rules and other issues. Under Section 110, a company be a qualifying one if
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