Revenue has published details of compliance with the enhanced reporting requirements (ERR), which came into effect on 1 January 2024. Revenue’s figures indicate that at 31 January 2024 over 66,000 submissions had been made by approximately 17,500 employers. These submissions relate to over 702,000 payments and benefits provided to 226,800 individual employees and directors valued almost €86 million.
Revenue has provided an analysis of the submissions as follows:
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14,000 remote working daily allowance payments, valued at almost €0.7 million,
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32,000 qualifying incentives under the small benefit exemption, valued at €19.3 million, and
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656,000 non-taxable travel and subsistence payments, valued at €65.9 million.
Revenue will continue supporting employers and agents to comply with ERR and will host further informational webinars. Employers and agents can also contact Revenue through MyEnquiries if they have any queries, and further support is available through the National Employer Helpline, which can be contacted on (01) 738 3638 between 09.30 and 13.30 Monday to Friday.
Feedback on issues or problems you experience with the new ERR reporting regime can be emailed to the Institute and we will continue to engage with Revenue through the TALC forum. We will keep you up to date on developments in Tax News.