Five things you need to know about tax, 15 December 2017

Dec 14, 2017

Highlights this week include the Tax Appeals Commission ruling in favour of two taxpayers, €9.8 million in cancelled tax refunds and amendments to the NI corporation tax regime.

Ireland

  1. The Tax Appeals Commission has found in favour of the taxpayer in two appeals concerning the entitlement to the employee tax credit against tax arising on the increased old age contributory pension payment on behalf of the taxpayer’s spouse.Read more on this story on how to make a claim to Revenue.
  2. Approximately €9.8 million in tax refunds have been cancelled by Revenue due to missing nominated bank account details for income tax refunds for mandatory e-filing cases.These refunds need to be re-activated.Read more on this story

    UK

  3. News about amendments to the NI Corporation tax regime.
  4. Guidance for companies who may need to submit an amended corporation tax return.

    International

  5. The OECD has released the first analysis of individual countries' progress in spontaneously exchanging information on tax rulings in accordance with Action 5 of the BEPS package of measures.