Latest Irish Tax News
The ITAS Accounting blog brings you the latest Irish tax news and finance news, including the latest Revenue updates, amendments to legislation, tax deadline reminders, tax tips, business tips and more.
Unlocking Tax Savings: Your Comprehensive Guide to Reducing your Tax Bill
As the Income Tax Return deadline approaches this October, many individuals find themselves facing the prospect of taxes owed to Revenue. But fear not! In this informative blog series, we delve into a variety of strategies and opportunities to empower you in...
Changes to Covid-19 Wage Subsidy Scheme
Revenue have now issued confirmation of key changes made to the Covid-19 Temporary Wage Subsidy Scheme as announced by Minister of Finance, Paschal Donohoe. Who does this apply to? This will apply to all those earning up to €500 per week / €31,000 approx. per year and...
Covid-19 Revenue Guidelines for certain filing obligations
Special Assignee Relief Programme (SARP) Employers usually have 90 days in which to file for an employee’s SARP relief, this has now been extended by 60 days. Revenue have issued this guideline to provide sufficient time for employers to file this return but Revenue...
Local Property Tax deferred Covid-19
Revenue have confirmed that payments of Local Property Tax paid by single direct debit have been deferred due to Covid-19. This will now be due for collection on 21st May 2020 If this applies to you, there is no need for you to do anything further as this will...
Covid-19 Wage Subsidy Scheme
What is it? It will be operated by employers through their payroll system, therefore ensuring employees will be in receipt of the subsidy payment along with their weekly employer contribution of wages, with effect from 26th March 2020. What are the key elements? Where...
e-Working and home workers
In this extraordinary time, employees are now unexpectedly working remotely from home. So, what does this mean for employees and employers? What is an e-worker? This is where an employee; Works from home full or part timeWorks on the move, with visits to normal place...
Income Tax Receipts Higher than Forecasted
As reported in the Irish Times, 03.03.2020, the latest exchequer returns show the Government received income tax of €3.97 billion for the months of January & February, 3.3% lower than forecasted but up over 14% based on previous years. VAT income was up by 4%,...
Deposit Interest Retention Tax (DIRT)
If you are an Irish resident and currently have a deposit account, then DIRT applies to you. Deposit accounts held with financial institutions pay an annual rate of interest in return for saving with them. The interest you receive it subject to tax, called Deposit...
Moving back home to Ireland – Social Insurance Contributions
If you have been living and working abroad, you were more than likely paying social insurance contributions in that country. Now that you are returning home, can these be combined with your Irish contributions? Ireland has social security arrangements in place with...
Brexit –UK Resident Directors of Irish Companies
Under the Companies Act 2014, all Irish Companies directors must be resident in the European Economic Area (EEA). As the UK left the EU on January 31st with certain provisions until 31st December 2020, the UK’s trading relationship with the EU remains the same and the...
Research & Development (R&D) Relief for employees
Background Companies can claim a tax credit from Revenue if undertaking R&D activities. A company has the decision to surrender all or part of this tax credit and therefore an employee of the company may be entitled to claim this credit if working in R&D...