June 2018 Tax Newsletter

This series of articles will provide you with an update on tax developments that impact organisations in Ireland and those that do business with Ireland.

Brexit - Winning the Spoils

Brexit Strategy
The cloud of uncertainty cast by Brexit is not all grey. Silver-linings have emerged in Ireland over the past few months. Mollie O'Donnell, Tax Manager in Mazars, outlines how Ireland has found itself as an attractive option for international business after Brexit.

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EU Digital Tax

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The European Commission issued two draft Directives on the taxation of the digital economy in March 2018. The drafts propose that companies would have to pay corporate income tax in each Member State where they have a significant digital presence. In the period prior to the enactment of this proposed legislation, the Commission has also proposed an interim measure of a 3% revenue-based Digital Services Tax. This interim tax measure would be levied on specific digital services where the main value is created through user participation.

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Third Party Returns: Are you compliant?

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Revenue has begun to issue notifications to taxpayers who are non-compliant with their filing obligations of Forms 46G, with reviews dating back to 2011. A non-compliant taxpayer may be liable to a penalty of €3,000 where a return is not delivered. Additionally, a tax clearance certificate may not be granted and repayments of tax may be withheld.

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Bitcoin; Do I have tax issues to consider?

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As a race, we have evolved from the early days of bartering as a means of payment for goods and services, to using coins and notes, and in more recent times to making payments using debit and credit cards. The evolutions occur as technological advances across the globe improve and make the world a smaller place to do business in.

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Update to Irish PAYE Obligations: Foreign (Non-Irish) employments – June 2018

PAYE
Revenue has published a new manual outlining its updated position on the PAYE treatment of non-Irish employments exercised in Ireland. This manual is the most significant update in the area since the publication of a Statement of Practice (SOP – IT/3/07) on the issue in 2007.

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UPDATE: On Advocate General Ruling Regarding Ryanair ECJ Hearing

ET-Ryanair
Following on from our last newsletter update, the AG’s opinion has now been published (C-249/17).



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