Tax Debt Warehousing and Interest Suspension Arrangements
On 7 May 2020, Revenue issued a press release with updated information on the suspension of interest and further details on the tax debt warehousing arrangement that was announced by the Government on 2 May. Interest Suspension The charging of interest on late payments is suspended automatically for SMEs with annual turnover of less than €3 million (i.e. businesses which are managed by Revenue’s Business Division) for: May and June […]
Irish Tax Institute welcomes targeted tax measures to protect jobs and support recovery in the SME sector
The Irish Tax Institute welcomes the Jobs Stimulus measures announced by the government this afternoon. The overall investment package of more than €7 billion will save jobs by providing a vital boost to businesses forced to close or severely curtail their trade since the pandemic restrictions were introduced five months ago. Institute President, Frank Mitchell particularly welcomed the clarity provided in the announcement about the future of the Temporary Wage […]
ITI Students to sit Exams online
In line with public health advice and in order to protect the health and wellbeing of our students, the Irish Tax Institute has decided that CTA and Tax Technician exams, due to take place in August, will now be completed online. The Institute is delighted to announce that it will use a world leading platform that will enable students to sit their exams in safety from a remote location while […]
Employees: New Developments in Revenue’s PAYE Services
This bulletin covers the new employee-focused developments on Revenue’s myAccount service. PAYE taxpayers can now access details of their total pay and statutory deductions for 2019 and view Revenue’s preliminary calculation of their tax position for the year. We explain below some of the new terminology and documentation, address basic questions employees may have on these developments and include some relevant screenshots from myAccount. Terminology and Documentation – What you […]
FanTAXtic – Competition 2020
As a transition year student you may not have huge exposure to the Irish tax system. Therefore, you may not realise that tax is really important for families, businesses, the Irish and global economy. The FanTAXtic competition requires a team of 3 students in transition year (2019/2020) academic year, to submit a 2-minute video giving their thoughts on a tax issue. This year we want to hear your thoughts on […]