The Defective Concrete Products Levy (“DCPL”) was introduced in Finance Act 2022 and came into force on 1 September 2023.
Throughout 2023, the OECD Inclusive Framework has continued its work on the development of the Pillar Two Global anti-Base Erosion Rules in advance of the introduction of the rules on 31 December 2023.
Employment Tax Updates covering: Enhanced Reporting Requirements (ERR), Small Benefit Exemption, Shares Options – Revenue’s Compliance Focus and PAYE Revenue Audits
Finance Act 2022 introduced the requirement for employers to notify Revenue of certain payments made to employees known as ‘reportable benefits’. The introduction of this reporting requirement is subject to a commencement order; however, the target implementation date is 1 January 2024.
The introduction of Pillar Two brings unprecedented changes to the international tax landscape, the likes of which haven’t been seen for decades. The rules will create a fundamental shift in the way certain groups are taxed as well as an additional global compliance and reporting obligation for those within scope of the rules.
Over the past few weeks, the Irish Revenue Commissioners (‘Revenue’) has sent in excess of 20,000 letters to non-resident landlords (‘NRL’) and their collection agents, informing them of the upcoming changes to the administration of withholding tax for NRLs. In these letters, Revenue has also detailed the information that landlords will be required to provide to their tenants or collection agents.
The European Commission has been revising the Securing Activity Framework of Enablers (SAFE) Directive, with intentions to implement the Directive in due course. The proposed policy carries a number of implications for tax intermediaries, which the Commission refers to as “enablers”.
The Revenue Commissioners (“Revenue”) first introduced the Special Assignee Relief Programme (SARP) in 2012 as a method for encouraging companies to relocate or assign their key employees to work in Ireland. Where certain conditions are satisfied, 30 percent of taxable employment income over €100,000 is disregarded for income tax purposes. This programme can result in significant tax savings for key employees.
The Temporary Business Energy Support Scheme (TBESS) is extended until the end of April 2023. The monthly limit on payments that can be made under the scheme is enhanced. These changes featured in the Government’s Cost of Living package of supports announced in February 2023.
With a significant number of employees now working in different locations, global mobility has become an area of focus for Ireland’s Revenue Commissioners. Revenue has increased their resources in this area and begun to issue detailed guidance that addresses employers and employees in these circumstances.
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On 22nd March 2021, the EU Council introduced "DAC7”, or the 7th Directive (2011/16/EU), on Administrative Cooperation, which enables EU Member States to address some of the perceived negative aspects of the digital economy, by extending the scope of existing exchange of information provisions between Member States, and thus ensuring greater transparency on cross border transactions.