In Irish tax developments, Revenue publish the new Code of Practice for Revenue Compliance Interventions and the Government announces a €505 million package of measures to tackle the cost of living. On the UK front, the rate of interest on late payment of tax has increased which may affect late 2020/21 self-assessment tax. While in international news, the European Commission is requesting feedback for a council directive on VAT issues.

   Ireland

1. The new Code of Practice for Revenue Compliance Interventions has been published by Revenue and sets out a revised framework of compliance interventions. Read our full story.

    

2. Last week, the Minister for Public Expenditure and Reform, Michael McGrath and the Minister for Finance, Paschal Donohoe jointly announced a package of measures with an estimated cost of €505 million to tackle the cost of living. Read more here.

    

   UK    

    

3. Late 2020/21 self-assessment tax now facing higher interest rate of 3 percent.

    

4. Read about the benefits of joining HMRC’s Agent Forum.

    

   International

    

5. The European Commission is requesting feedback on a proposal for a Council Directive amending Directive 2006/112/EC which refers to the extension of the application period of the optional reverse charge mechanism in relation to supplies of certain goods and services susceptible to fraud and the Quick Reaction Mechanism against VAT fraud. Read more here.

Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount.