Revenue has published an updated Tax and Duty Manual which provides guidance regarding returns by employers in relation to reportable benefits. As previously reported, from 1 January 2024, employers will be required to report to Revenue the payment of travel and subsistence, the remote working allowance, and benefits provided under the small benefit exemption at the time or before the payment is made.
While the Institute notes the publication of guidance for employers regarding Enhanced Reporting Requirements, it remains concerned with the short timeframe given to employers to implement the measures and other matters set out in a letter to the Minister for Finance last month.
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