Factsheets

The European Financial Reporting Advisory Group (“EFRAG”) submitted to the European Commission its technical advice on the first set (“set 1”) of draft European Sustainability Reporting Standards (“ESRSs”) on the 22 November 2022. This included 2 “cross cutting” ESRSs (General Requirements and General Disclosures) and 10 “topical” standards across Environmental, Social and Governance topics.

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.

Why the ECB and EIOPA Are Exploring Actions to Reduce the Climate Insurance Protection Gap

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.

Creating and implementing watertight Know Your Customer (KYC) procedures can be problematic for many organisations since the process remains a people-driven, manual operation.

Grant Thornton Financial Counselling Ltd acts as intermediary between you, the consumer, and the product provider with which we arrange your business.

With our finger on the pulse of this ever-evolving industry, we provide intermediaries with practical, cost-effective solutions to address your business needs, from outsourcing, assistance in navigating regulatory landscape developments and their impacts, statutory reporting requirements, to support with mergers and acquisitions.

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.

Ireland has always been known for its green landscapes and rich agricultural background, but with changing climate patterns, dynamic regulatory and legislative plans and evolving consumer demands, the future of Irish agriculture and food is being shaped in new ways.

Appointing new auditors may seem like a daunting task that will be disruptive to your business and a drain on the finance function. Nevertheless, there are a multitude of reasons to consider a change, including simply seeking a ‘fresh look’ at the business.

The Companies (Corporate Enforcement Authority) Act 2021 contains a provision, which requires the directors of Irish companies to provide their Personal Public Service (PPS) numbers on certain documents submitted to the Companies Registration Office (CRO) in order to allow for verification of a director’s identify.

Following stakeholder consultation, the Central Bank of Ireland (CBI) has published ‘Guidance for (Re)Insurance Undertakings on Climate Change Risk’. The following are the key areas outlined for re(insurers) to integrate climate change risk: Appropriate Governance, Materiality Assessment, Scenario Analysis, Strategy & Business Model, Risk Appetite & Risk Management and Reporting.

Ensure compliance with DORA. Discover requirements for cybersecurity resilience, testing standards, and best practices for EU financial service providers.

In 2022, the global economy was expected to recover following the chaos unleashed by the COVID-19 pandemic. However, in 2023, organisations across all sectors still face a myriad of challenges. One of the areas in which Grant Thornton has been able to assist our clients in driving efficiency is through assisting businesses in delivering a ‘Cost Optimisation’ model.

The Corporate Sustainability Reporting Directive (“CSRD”) introduces detailed reporting requirements on companies’ impact on the environment, human rights and social standards.