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.
Tax Refunds for Self-Employed & Companies
In the July Stimulus Plan, the Government announced a range of tax, loan and expenditure measures. For those self-employed For self-employed individuals, who were profitable in 2019 but due to Covid-19 are now operating at a loss in 2020 will provide a new once-off...
Covid-19 Trading Online Voucher
As of 8th April, the government made a number of business supports available, due to the economic impact of Covid-19. One of these supports is the Trading Online Voucher. Does my business qualify? This is available for all business sectors that have; up to 10...
Temporary VAT Rating for supplies of PPE
Revenue have confirmed that there will be a temporary zero VAT rating of supplies of personal protection equipment, ventilators and other medical products when supplied to the HSE, hospitals, nursing homes, etc for us in the treatment of Covid-19. This will be 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...