How is cryptocurrency taxed in Ireland?
With the rise in ownership of cryptocurrency, crypto-assets, and Non-Fungible Tokens(‘NFTs’), the tax treatment of these transactions is becoming an area of interest to both Revenue and to the asset holders
Tax newsletter February 2022
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.
This month we cover some key tax points on short term workers in Ireland, interest-free loans from parents, debt warehouse from Covid 19, personal tax planning tips, update on Brexit matters, employee share plan filings, proposed EU directive on shell companies and the taxation of cryptocurrency in Ireland.
I trust you will find something of interest from the various matters covered and if you have a query please get in touch.
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Tax newsletter - February 2022
Gift tax legislation changes postponed
With speculation increasing in relation to rising interest rates, it is no wonder that the Irish Government changed its path on gift tax legislation as announced in October’s Budget
Tax planning tips
Now is a good time to consider getting your tax affairs in order. Below we have provided a number of tax planning tips to bear in mind for the year ahead.
Updated guidance on short term Irish assignees
On 20 December 2021, Revenue updated its guidance material in relation to the payroll tax withholding obligations in relation to foreign employments exercised in Ireland.
Proposed EU directive to “unshell” shell entities
On 22 December 2021, the European Commission published a proposal for a directive to prevent the misuse of shell entities for tax purposes, described as “unshell directive” or also referred to as ATAD III.
Debt warehousing scheme
The debt warehousing scheme (“the scheme”) was first introduced in May 2020 in response to the significant impact the Covid 19 pandemic had on the cash flow demands of businesses. The scheme moved into its second stage on 1 January 2022.
Tax news
Vice President of Internationalisation & Alumni
The purpose of this role is to lead the strategy, operational planning and managing of the Internationalisation and Alumni operations, activities, programmes and staff.
Insurance regulation newsletter - Issue 7
Digitalisation, climate change and the cost of insurance have dominated agendas in early 2024 for insurers and regulators alike. While macroeconomic conditions have stabilised, technological advancements and legislative developments promise to keep insurers busy into the summer months and beyond.
CBI focus on payment and e-money institutions
Since the beginning of the year, several articles and speeches from the Central Bank of Ireland (CBI) have singled out the Payments Institutions (PI) and Electronic Money Institutions (EMI) sector as being of increased risk, with concerns that an operational or financial failure could cause a significantly impact the European Economic Area (EEA) financial system.
Contact
Frank Greene Partner, Tax Dublin
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