Finance Bill 2020 – Submission to the Minister for Finance

Nov 09, 2020

Chartered Accountants Ireland, under the auspices of the CCAB-I, wrote to the Minister for Finance, Paschal Donohoe TD, highlighting a number of sections in Finance Bill 2020 requiring further amendments or changes. The letter addresses the limitations of the Covid Restrictions Support Scheme, calling for the scheme to be aligned with its objective to provide support to all businesses significantly affected by Government restrictions. The letter also highlights concerns surrounding the replacement of domestic exclusions from transfer pricing through section 15 of the Bill, which is seen as a narrowing of the existing provisions. Lastly, the letter focuses on concerns relating to section 67 of the Bill, which removes the payment of interest on tax discharged by the taxpayer on a disputed assessment, which is subsequently upheld by the Tax Appeals Commission.