Ireland: Revenue publishes an eBrief on payment of interest and royalties
On 10 March 2021, the Irish Revenue issued an eBrief No. 054/21 regarding updates to Tax and Duty Manual. This manual contains payment and receipt of interest and royalties without deduction of income tax. Some key points of this manual are given
See MoreIreland: Revenue publishes an eBrief to update DAC6 reporting guidance
On 1 March 2021, the Irish Revenue published an eBrief No. 014/21 regarding EU mandatory disclosure of reportable cross-border arrangements. On the similar day, the Revenue also published a Tax and Duty Manual, providing guidance to update the DAC6
See MoreIreland: Revenue issues an eBrief to announce updated TP guidance
On 24 February 2021, the Irish Revenue issued eBrief No. 37/21 regarding updated guidance on transfer pricing. On the similar day, the Revenue also published a Tax and Duty Manual-Part 35A-01-01, providing updated guidance on the operation of the
See MoreIreland: Revenue issues eBrief regarding guidance on CFC rules
On 12 February 2021, the Irish Revenue issued eBrief No. 027/21, which provides updated guidance regarding controlled foreign company (CFC) rules. On the similar day, the Revenue also published a Tax and Duty Manual, providing guidance of how to
See MoreIreland: Revenue issues eBrief regarding DAC6 reporting obligations
On 27 January 2021, the Irish Revenue published an eBrief No. 014/21 regarding EU mandatory disclosure of reportable cross-border arrangements. On the similar day, the Revenue also published a Tax and Duty Manual, providing guidance where certain
See MoreIreland: President signs the Finance Bill 2020 into Law
On 19 December 2020, the President signed the Finance Bill 2020 into Law, which underpins the Government’s support for the economy in the face of Covid-19 pandemic and the ongoing threat of a no-deal Brexit. The Finance Act 2020 provisions
See MoreIreland: Finance Minister publishes a feedback on ATAD interest limitation rule
On 23 December 2020, the Finance Department published feedback statement, which considers the final ATAD measure, an Interest Limitation Rule, which will also be implemented in Finance Bill 2021. In Ireland, the general anti-abuse rule (GAAR) met
See MoreIreland: Revenue updates CbC user guide
On 30 November 2020, the Irish Revenue published an eBrief 216/20 on a new Tax and Duty Manual Part 38-03-21, which provides details of the release of CbC User Guide Version 2.0 and CbC XML Schema Version 2.0, which will be in use from 1 February
See MoreIreland: Revenue extends refund of excess R&D tax credits due in 2020
On 11 November 2020, the Tax Revenue published a Guidance in eBrief 202/2020, which includes a new paragraph 2.1 in relation to 2020 refunds. Due to COVID-19 pandemic, the Revenue announced the extension of the quick cash refund of R&D tax
See MoreIreland: Revenue publishes eBrief regarding DAC6 reporting update
On 3 November 2020, the Irish Revenue published an eBrief No. 200/20, which provides EU mandatory disclosure of reportable cross-border arrangements. On the similar day, the Revenue also published a Tax and Duty Manual, providing general
See MoreIreland: Finance Minister publishes Finance Bill 2020
On 22 October 2020, the Finance Minister, Paschal Donohoe TD, published Finance Bill 2020 following Cabinet approval at the Government meeting. The Bill underpins the Government’s support for the economy in the face of Covid-19 pandemic and the
See MoreIreland: Finance Minister delivers 2021 Budget Statement
On 13 October 2020, the Finance Minister, Paschal Donohoe, presented the 2021 Budget Statement. The Budget basically underpins the Government’s support for the economy in the face of Covid-19 pandemic. Some of the tax measures included in the
See MoreIreland: Revenue publishes guidance regarding loss relief for COVID-19 affected companies
On 6 August 2020, the Revenue published an eBrief 150/20 regarding loss relief for COVID-19 affected companies. A new Tax and Duty Manual has been published to provide guidance on the operation of section 396D TCA, as well as to provide information
See MoreDAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
See MoreIreland: Irish Revenue introduces new hybrid mismatch guide
On 8 July 2020, the Revenue published eBrief No. 137/20 on a new Tax and Duty Manual Part 35C-00-01, which provides an overview of the anti-hybrid rules that were introduced into Part 35C TCA 1997 by Finance Act 2019. This manual covers following
See MoreIreland: Revenue issues an eBrief regarding treatment of losses
On 25 June 2020, the Irish Revenue published an eBrief No. 124/20 on a Tax and Duty Manual part 19-02-05 related to treatment of capital losses. This manual describes the principles of allowable losses, and clarifies that where an allowable loss
See MoreIreland: Tax authority extends the DAC6 reporting timelines by six months
Due to coronavirus outbreak, the European Commission has recently agreed to delay the entry into force of certain European Union (EU) taxation measures. Among these is the delay of Council Directive 2018/822, commonly known as the Directive on
See MoreIreland: Revenue publishes guidelines on corresponding TP adjustments
On 24 April 2020, the Irish Revenue issued an eBrief No. 068/20 to announce about the publication of A new Tax and Duty Manual on corresponding transfer pricing (TP) adjustments. Guidelines for Article 9 Corresponding Adjustment claims This
See More