Five things you need to know about tax, 2 October 2020

Oct 01, 2020

The TWSS reconciliation process and the requirement to report the subsidy paid amount to Revenue before 31 October 2020 features as our top Irish story this week. Revenue has also provided details on how payments received under the TWSS and PUP will be taxed.  In the UK, was the Chancellor’s Winter Economy Plan a trick or treat, and what’s new with HMRC? While in international tax, the OECD has published a report on BEPS Action 13 Country by Country Reporting.   

   Ireland

  1. TWSS reconciliation process – employers are required to report the actual subsidy paid to employees to Revenue before 31 October 2020;
  2. A Revenue press release sets out details on how payments received under the TWSS and PUP will be taxed;

    UK

  3. Was the Chancellor’s Winter Economy Plan a trick or treat? Read more on the tax measures announced last week;
  4. What’s new with HMRC? We set out some takeaways from a recent meeting; and

    International

  5. Progress on transparency, the OECD has published a report on the BEPS Action 13 Country by Country Reporting.