In Irish tax developments, Revenue commence issuing final Debt Warehousing warning notices to tax payers with outstanding tax returns and the Department of Finance launch two public consultations on the Key Employee Engagement Programme and the OECD Pillar Two. On the UK front, HM Treasury is consulting on possible reforms to the UK capital allowances regime and the Chancellor announces a new Energy Profits Levy and cost of living supports. In International news, the OECD invite public comments on two consultation documents relating to tax certainty aspects of Pillar One of the Two-Pillar Solution.
Ireland
1. Revenue commence issuing final Debt Warehousing warning notices this week requiring taxpayers to file all outstanding tax returns within 10 days of the date of the notice to remain eligible for the Debt Warehousing Scheme.
2. The Department of Finance launch two public consultations regarding the future of the Key Employee Engagement Programme (KEEP) and the proposed implementation of the OECD Pillar Two Minimum Tax Rate.
UK
3. HM Treasury launch a consultation on possible reforms to the UK capital allowances regime.
4. The Chancellor announces new temporary tax on energy profits of 25 percent and supports for the cost of living.
International
5. As part of the ongoing work of the OECD Inclusive Framework to implement the Two-Pillar Solution to tax challenges of digitalisation, the OECD is seeking public comments on two consultation documents relating to tax certainty aspects of Amount A under Pillar One.
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