International tax update - June 2021

Read our quarterly tax bulletin for the latest tax updates covering: 

Stamp duty

A Financial Resolution was passed by the Irish Government on 19 May 2021 which inserts a new Section 31E into the Stamp Duties Consolidation Act 1999, imposing a stamp duty charge of 10% on the multiple purchase of 10 or more residential units with effect from 20 May 2021.

Economic recovery plan and COVID-19 supports

On 1 June 2021, the Irish Government launched the Economic Recovery Plan, which included and extension of existing supports and further supports to provide support to businesses as they re-open and resume normal trading.

Anti-hybrid mismatch rules

As required by the EU Anti-Tax Avoidance Directive (ATAD), Finance Act 2019 introduced wide ranging anti-hybrid mismatch rules into Irish domestic tax legislation.

Research and development tax credit updates

Revenue have published the long–awaited updates to their Research and Development (R&D) guidelines covering the treatment of rental expenditure

Employer share awards

Finance Act 2020 introduced a mandatory reporting obligation on employers, essentially this means that reporting by employers is extended to include share awards given in the form of cash equivalents, or where a discount on shares is provided, to employees.