Institute News
This is where you’ll find the latest updates about the Irish Tax Institute.
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Response to the Feedback Statement on ATAD Interest Limitation Rule
On Monday 8 March, the Institute responded to the Department of Finance’s Feedback Statement on the implementation of the final measure of the Anti-Tax Avoidance Directive (ATAD), Article 4 Interest Limitation Rule (ILR). The ILR, which will introduce a fixed based ratio rule to limit a company’s allowable tax deduction for net interest cost in a tax period to 30% EBIDTA, will be transposed into Irish law in Finance Bill […]
Institute’s response to the public consultation on EII
On 12 February, the Institute responded to the Department of Finance’s public consultation on the Employment Investment Incentive (EII). The EII scheme is a vital source of finance for early stage and small businesses. Rather than solely relying on Government to inject cash into the economy, the EII could be used, by the private sector, to support the return to business following the Covid‐19 pandemic and to boost the creation […]
Brexit: What happens after 31 December 2020
As of 1 January 2021, the United Kingdom (UK) is no longer a member of the European Union (EU). Regardless of the outcome of the negotiations reached at the end of 2020, businesses that move goods to, from or through Great Britain (UK excluding Northern Ireland) are required to complete customs formalities. In addition, individuals who buy goods online for personal use from Great Britain will have to consider if […]
Revenue extends Pay and File deadline to 6pm on Friday 11 December
Today (10/12/2020), Revenue announced an extension of the 2019 Pay and File deadline until 6pm Friday, 11 December 2020. Yesterday, Revenue processed almost 30,000 Form 11 returns for 2019 and over 14,000 returns have been filed via ROS so far today. The total number of 2019 income tax returns filed to date is now in excess of 500,000. Revenue acknowledges the on-going efforts by taxpayers and agents who are working […]
10 tips when filing your Income Tax Return
The deadline to submit an Income Tax Return for 2019 and to pay Preliminary Income Tax for 2020 on Revenue Online Service (ROS) is extended to 6pm, Friday 11 December 2020 (read announcement here). Here are 10 things to watch out for when filing your 2019 Income Tax Return (the ROS Form 11) online over the coming days. 1. Check you have access to ROS Your ROS Digital Certificate has […]