There have been a number of different property taxes introduced in the recent past. These are aimed at increasing housing supply. Some of these main taxes are as follows: Vacant Homes Tax Applies to residential properties which are in use as a dwelling for less...
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It is important to note that the VAT rate on certain tourist/hospitality related services increased to 13½%, with effect from 1 September 2023. These services include: catering and restaurant supplies (excluding alcohol, soft drinks and bottled water) hot take-away food, and hot tea and coffee hotel...
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The notes below should be read in conjunction with our earlier circular from May 2023. The “Non-Resident Landlord Withholding Tax” (NLWT) system is now “live”. Detailed Revenue guidance notes are available here. The NLWT platform can be accessed by selecting “Manage non-resident landlord withholding tax” from...
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Non-resident landlords Changes from 1 July 2023 Finance Act 2022 introduced changes to the obligations of tenants and collection agents of non-resident landlords. These changes are pending the introduction of a new Non-resident Landlord Withholding tax platform (“NLWT”). This will be accessible through Revenue Online Service (ROS) and...
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The Government announced last week that a temporary measure of relief would be given to reduce the BIK cost of company cars and vans in 2023. This temporary relief is as follows: There is a temporary reduction of €10,000 in calculating original market value, for...
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As part of the Government’s “Cost of Living package” published on 21 February 2023, it has been announced that the 9% VAT rate will be extended until 31 August 2023. It was to have been increased back to 13.5% with effect from 1 March 2023. ...
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The Payment of Wages (Amendment) (Tips and Gratuities) Act 2022 is due to come into effect on the 1st of December 2022. There will be 4-week period between now and the 1st December that will allow for employers to prepare for the required changes under...
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The Finance Bill 2022 was published yesterday. It will now progress through the Oireachtas and will be subject to potential amendments throughout this process. It is anticipated that it will become law in late December 2022. The Finance Bill gives effect to many of the Budget...
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Travel & Subsistence rates revised from 1 September 2022, see link: https://www.revenue.ie/en/employing-people/employee-expenses/travel-and-subsistence/civil-service-rates.aspx This area is very topical area with Revenue, therefore if you have any questions or concerns, please let a member of the team know and they can assist you. Revenue Compliance Revenue have been very accommodating during...
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If any type of share awards have been given by a company to employees in any year, it is now mandatory to report this to Revenue before 31 March in the following year. Therefore, if you have given any kind of share awards to employees...
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