Last week Chartered Accountants Ireland represented members at the Department of Enterprise, Tourism and Employment’s Cost of Business Advisory Forum. The most recent session focused on the cost of regulation, reporting and compliance. In our submission ahead of that meeting, we continued to voice our concerns with the real-time reporting requirement for information reportable under the Enhancement Reporting Requirements (ERR).
We continue to raise the point that the information required relates to expenses and benefits which are non-taxable and therefore, should not form part of payroll data. Instead, employers should be able to provide periodic information returns to Revenue in line with practices that had been established prior to the implementation of ERR. We maintain that there has never been an adequate analysis on the benefits to government in receiving this information in real time versus the compliance burden placed on businesses. A simple, periodic deadline for returning in-scope information would be sufficient in our view and in the experience of our members.
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