Irish tax developments include the publication of detailed Revenue guides on LPT exemptions and confirmation from Minister Donohoe of no change to the EWSS for October. On the UK front, the Office of Tax Simplification issued a report on the pros and cons of changing the tax year and we bring you a roundup of recently ceased COVID-19 supports. While in international news, public Country by Country reporting is approved by the EU Council.
Ireland
- Minister for Finance, Paschal Donohoe, confirmed that there will be no change to the EWSS for the month of October. The Minister is said to be considering options on the future of the EWSS which will be outlined on Budget Day.
- Revenue published 13 LPT exemption manuals which apply for the upcoming valuation date of 1 November. See here for more information.
UK
- The Office of Tax Simplification published its analysis of potential benefits, costs and implications of a change to the tax year after conducting a review of the issue.
- We bring you a reminder that various COVID-19 HMRC administered schemes ended last week together with information on reporting COVID-19 grants on corporation tax returns and an update on the process for registering as self-employed.
International
- The EU Competitiveness Council approved the draft Directive on public Country-by-Country Reporting which requires multinational undertakings with revenue of more than €750 million to disclose publicly the income tax they pay.
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 Newsletter by updating your preferences in MyAccount.
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