Entries by ecovis_adm1n_17

What Budget 2022 Means To You

Budget 2022 It has been a busy few days for the Irish Government with not only the announcement of the annual budget yesterday but also the announcement last week that Ireland would be signing up to the OECD G20 Inclusive Framework agreement, with an increase in the well-known and discussed 12.5% corporation tax rate to […]

Changes to the Employee Wage Subsidy Scheme

As we are all aware, the Employee Wage Subsidy Scheme (EWSS) has been an integral part of protecting Irish businesses during the Covid-19 pandemic emergency. The scheme has seen many changes and taken on new forms over the course of the past year, having been set up on an emergency basis but requiring updates and […]

Revenue’s Debt Warehousing Scheme

Revenue recently reminded businesses that were to resume trading, once lockdown ended, that their Debt Warehousing Scheme was still in operation. The process of debt warehousing essentially allows businesses to “park” their debts for a period of time in order to support cash flow when the company resumes trading. This will have been an invaluable […]

Revenue’s game-changer for tax administration

As we have discussed recently, the Revenue system has been undergoing massive amounts of welcome changes in recent years. As Revenue continues to invest in the future of their systems, how we do business daily is likely to shift along the way. Revenue have become increasingly advanced and sophisticated in their systems over the past […]

Revenue’s Continued Removal Of Paper Transactions…

PAYE the Price for Digital Life… In recent years, Revenue have begun to modernise their systems across the board and move to a largely paperless mode of working, including a full revamp of the PAYE system. This revamp of outdated systems is ongoing. Most recently, Revenue issued new guidance and information in April of this […]

Taxation Implications on Bitcoin & Cryptocurrencies

Yesterday went from bad to worse for the crypto bears and believers as they saw their favorite cryptocurrency Bitcoin crash almost 50% from its all-time high hit earlier this year. This also dragged down the values of other cryptos (‘alt coins’) making it a day to forget for all teams involved. We can’t tell you […]

As we open up, what is the Economic Outlook?

There are a great many ways in which the Covid-19 emergency has affected the world we now live in. Our day-to-day lives have been irrevocably changed and everything from our daily habits to how we view and manage our mental wellbeing will likely be different going forward. Something which has been a concern for both […]

Pandemic Unemployment Payment (PUP) 

2020 payments received:  Payments received in 2020 under the Pandemic Unemployment Payment (PUP) are subject to income tax and universal social charge. Individuals in receipt of PUP payments must complete an income tax return to receive their final statement of liability which will provide the final over or under payment for the year. Revenue confirmed in September […]