Reduction in the rate of VAT from 23% to 21% with effect from 1st September 2020 to 28th February 2021 The July Stimulus package includes a provision for the reduction in the standard 23% rate of VAT. The new rate of 21% will apply from 1st...
Read MoreJuly 2020 Jobs Stimulus Plan The government, in response to COVID-19, recently announced the July Jobs Stimulus Plan which provides for several measures to boost the economy and get people back to work. This document contains a brief overview of the measures announced as we await further...
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The Tax Appeals Commissioner has found in favour of Kerry Co-op in a test case involving Kerry Co-op and Revenue, as regards the valuation of patronage shares. The case follows the issue of tax demands by Revenue to 400 farmers in late 2016. These demands related...
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Revenue have recently commenced a review on compliance with the TWSS and are contacting employers who have claimed TWSS payments. What this means for you? Revenue are asking for certain documentary evidence to establish that: The Scheme eligibility criteria is met. The correct amount of subsidy is...
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New scheme to Warehouse VAT and PAYE (Employer) tax debts associated with the COVID-19 crisis There is a “warehousing” scheme in place for VAT and PAYE/PRSI/USC (“PREM”) liabilities. This means that, while taxpayers will still have to submit tax returns as normal, no actual payments need...
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COVID-19 Restart Grant for Small Businesses Applications opened 22nd May 2020 The Government has announced the implementation of a new €250m Restart Grant, which will give direct grant aid to small businesses to help them with the costs associated with re-opening and re-employing workers following...
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TWS - Tax Credits Background - The Temporary Wage Subsidy (TWS) Scheme can give rise to 2 separate tax liabilities for employees: As you know, the temporary wage subsidy (TWS) payment is not subject to payroll deductions; but is taxable by review directly on the...
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Temporary Covid-19 Wage Subsidy Scheme Download here>>...
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