Factsheets

The Mini One Stop Shop, better known as MOSS, is a simplification measure to reduce the administrative burden and costs for businesses should they be in involved in supplying telecommunications, broadcasting and electronic (TBE) services to non-taxable persons i.e. typically private consumers.

The debt warehousing scheme now includes income tax liabilities which normally fall due on 31 October 2020. This means that payments of the balance of income tax due for 2019 and preliminary tax for 2020 may be deferred, or known as ‘warehoused’, for up to 12 months’, interest free. A lower 3% reduced interest rate will apply thereafter to any outstanding payments until they are paid in full.

Bernard Doherty discusses the July Job Stimulus.

All RTD’s for businesses with a 31 December 2017 year end must submit a RTD on or before 23 January 2018 via the Revenue Online System (“ROS”). Please contact a member of our indirect tax team if you require assistance with completion of your RTD.

This indirect tax update looks at VAT exemption on certain medical diagnostic services, VAT repayment offset changes with effect from 25 November 2019 and much more.

The Department of Public Expenditure and Reform have announced changes from 1 July 2019 to the standard rates of subsistence allowances in Ireland that apply to the Civil Service.

On 20 February 2019, the ‘Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2019’ was initiated by the government. This is a Brexit Omnibus Bill to prepare Ireland for a no deal withdrawal by the UK from the EU.

A restricted share scheme grants an employee “restricted” shares in their employer company. The shares are issued with restrictions requiring the shares to be retained on trust for the participant for a fixed period before they can be sold. The employee has beneficial ownership during this period. The fixed retention period is commonly called the ‘clog’ period.

As the holder of a VAT 56B Authorisation Certificate (VAT 56B), you will no doubt be aware that you are entitled to receive qualifying goods and services at the zero rate of VAT, regardless of the actual rate of VAT applicable to the good or service in question. This factsheet acts as a refresher to ensure that you are gaining the most from your VAT 56B, yet not availing of the zero rate of VAT where it would not be appropriate to do so.

Welcome to the first edition of our quarterly update on matters relating to financial advice and tax efficient financial planning.

Relief from Capital Gains Tax (CGT) is available for individual entrepreneurs disposing of certain business assets. Entrepreneur relief was originally introduced under Finance (No 2) Act 2013 however has since been revised by Finance Act 2015 with the aim of encouraging serial entrepreneurs to establish new businesses.

Following the UK referendum on Brexit, many businesses have chosen and others will choose Ireland as an EU headquarters for doing business. Of course many commercial, legal and tax decisions will have to be made and the purpose of our guide is to provide a synopsis of the Irish VAT registration and filing requirements for businesses locating to Ireland.

Not-for-Profit (NFP) organisations may have VAT obligations, albeit that they may be considered tax exempt from a direct tax perspective. As a result, it is essential to manage and mitigate your VAT costs and possible exposures.

As part of the Base Erosion and Profit Shifting (BEPS) programme, Ireland has introduced domestic legislation to adopt the Country-by-Country (CbC) reporting requirements into Irish law.

See our overview on VAT treatment of payment services.

In order to be a ‘qualifying company’ for the purposes of section 110 TCA 1997, a company must meet certain conditions, one of which is that it must notify Revenue of its status as a qualifying company.