Five things you need to know about tax, 15 June 2018

Jun 14, 2018

Highlights this week include new EU rules for disclosing tax planning arrangements, Form 11 income tax return updates, the Northern Ireland Tax Committee’s response to the impact of VAT and air passenger duty on tourism in Northern Ireland and the European Commission’s announcement of a new Customs Programme.

Ireland

1. New EU rules requiring the disclosure of tax planning arrangements come into force on 25 June 2018.  Read more about this story on our website

2. Revenue have told us that an update to the ROS Form 11 income tax return is scheduled for release tomorrow, Saturday, 16 June.  The update will mean that that any draft return that is on hold when the updated form goes “live” may have to be revisited before it can be submitted to Revenue. Read more on the reason for the update

UK

3. The NI Tax Committee recommends that any reduced rate of VAT on tourism in Northern Ireland mirrors the 9% rate in the Republic of Ireland

4. The requirement to correct deadline is approaching on 30 September 2018


International

5. The European Commission has published plans to increase spending to €950 million from 2021 to 2027 on a new Customs Programme designed to boost cooperation between tax and customs authorities