Updates to Revenue manuals, 14 September 2020

Sep 14, 2020

Revenue updated the Tax and Duty Manual – Part 38-03-23 – Standard for Automatic Exchange of Financial Accounting Information in Tax Matters – The Common Reporting Standard (CSR). The Customs Exports Procedures Manual has been updated to incorporate two other Tax and Duty Manuals and reflect changes in the Union Customs Code (UCC) No. 952/2013, as well as providing information on export procedures for staff. Revenue also archived the Tax and Duty Manual – Part 12-05-05, relating to life assurance companies and group relief.

Standard for Automatic Exchange of Financial Accounting Information in Tax Matter – The CSR

The manual Part 38-03-23 has been updated at section 10. The updates set out the release of the CRS User Guide Version 3.0 and CRS XML Schema Version 2.0, which will be in use from 1 February 2021.

Customs Exports Procedures Manual

The Customs Exports Procedures Manual now incorporates the below Tax and Duty Manuals:

  • TDM – Customs Export Procedures – Section 11-12
  • TDM – Customs Export Procedures – Appendices

Updates to reflect changes in Union Customs Code (UCC) No. 952/2103 and provide information on export procedures for staff can be found in Revenue eBrief no.170/20.

Life assurance and group relief

The manual Part 12-05-05 provided details of an amendment made by section 54 Finance Act 2000 to section 420 TCA 1997 to allow life assurance companies who were taxed under the 'new basis' to avail of group relief with effect from 1 January 2001.  Revenue considers that given the passage of time, and the fact that position is now well understood, the manual is no longer required. Further information can be found in Revenue eBrief No.169/20