Revenue has updated the Tax and Duty Manual that provides guidance for the Small Benefit Exemption. The updated manual provides additional information and examples regarding the Finance Act 2022 changes to this measure. Finance Act 2022 extends the small benefit exemption to up to two non-cash benefits totalling €1,000.
The updated guidance provides a link to the guidance material on Enhanced Employer Reporting (ERR) obligations, which (subject to Ministerial Commencement Order) require mandatory reporting to Revenue of the small benefit exemption from 1 January 2024 by employers.