Entries by ecovis_adm1n_17

Enhanced Reporting Requirements

Section 9 of Finance Act 2022 introduced the requirement for notifications by employers to Revenue in relation to certain reportable benefits. This is a new reporting requirement, defining reportable benefits as: a small benefit a remote working daily allowance, or a travel and subsistence payment The introduction of the reporting requirement is subject to commencement […]

The Rent Tax Credit

With the ever-increasing cost of living here in Ireland, it is important to be aware of all reliefs available. It has emerged recently that many tenants in Ireland are unaware of the existence of the Rent Tax Credit, which could be of assistance to many renters in Ireland. It has been reported that around half […]

Pension Auto-Enrolment Scheme Postponed to Late 2024

The much-anticipated debut of Ireland’s groundbreaking pension auto-enrolment initiative has been rescheduled to the latter part of 2024, in unwelcome news to many workers. This pension auto-enrolment program aims to revolutionize retirement planning by making it simpler for workers to secure their financial future. Under the new system, eligible employees will be automatically enrolled into […]

Revenue Clamping Down on Tax Compliance

Revenue’s eBrief No.174/23 Update As we have spoken about many times over the last few months, Revenue have been making a conscious effort to implement changes that will clamp down on any tax compliance issues and overall make the system more foolproof. The latest move towards eradicating tax compliance issues has been specifically aimed at […]

New Non-Resident Landlord With-holding Tax (NLWT)

The Revenue Commissioners are currently contacting Non-resident landlords about the new Non-Resident Landlord With-holding Tax (NLWT) that is being introduced with effect from 1 July 2023. Collection Agents appointed to deducted withholding tax @ 20% from rents and remit to revenue via new withholding tax platform. Where tenants pay rents directly to a non-resident landlord they will be […]

Dealing with Revenue’s Level 1 Interventions Correctly

For businesses operating in Ireland, it is crucial to understand how to effectively handle Level 1 interventions initiated by Revenue. It has recently been announced by Revenue that many businesses are failing to deal with these in the correct manner, which can become problematic for both Revenue and the businesses themselves. Level 1 interventions are […]

Benefits of Establishing a Holding Company in Ireland

Ireland is renowned as an attractive location for groups/companies looking to set up holding company structures due to its competitive tax regime and favourable business environment. Ireland is usually the location of choice for businesses seeking to minimise their tax liability while setting up or expanding their operations in Europe. This has become even more […]

CRO Changes

In recent years, there have been a great many changes introduced to the various procedures involved with employment. From the removal of the old P45 system to changes to PAYE procedures, there have been many changes for employers to become accustomed to. To continue this trend, there will soon be a new requirement for all […]