The Commission has published Questions and Answers on the US reciprocal tariff policy, noting that VAT is a consumption tax, similar to US sales taxes, and applies indiscriminately to any foreign or domestic business selling goods in the EU.

In this week’s post EU exit corner, we bring you the latest guidance updates and publications relevant in the post EU exit environment. The most recent Trader Support Service bulletin is also available as is the latest Brexit and Beyond newsletter from the Northern Ireland Assembly EU Affairs team. Miscellaneous guidance updates and publications Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service, Using an express operator to import and export, Notices made under The Customs (Import Duty) (EU Exit) Regulations 2018, Notices made under The Customs (Export) (EU Exit) Regulations 2019, Get someone to deal with customs for you, Applying to use simplified declarations for exports, Transit newsletters — HMRC updates, Search the register of customs agents and express operators, Apply to pay less duty on goods you export to process or repair,  Apply to import goods temporarily to the UK, and Report a problem using the Customs Declaration Service.

Later this week, Regina Doherty, MEP, will lead a delegation of the tax matters subcommittee to meet with representatives of key Finnish and Estonian institutions to discuss topical international tax issues and challenges. The topics to be discussed will include the implementation of the OECD's Two-Pillar solution, the simplification of the tax system and improving competitiveness, tax incentives, the situation of cross-border workers, energy taxation, and the implementation of EU Directives.

The latest UK tax tidbits features updated guidance across a range of areas and updated guidance on how to spot genuine HMRC contact and identify phishing attempts. Appeals reviews and tribunals guidance, Simplifying the onboarding process for new starters: communication resources, Cryptoassets Manual, Apply for an agent services account if you're not based in the UK, Property Income Manual, Create an agent services account, Check if you need to carry out digital platform reporting, Check genuine HMRC contact that uses more than one communication method, Check if a phone call you've received from HMRC is genuine, Check if an email you've received from HMRC is genuine, Check if a text message you've received from HMRC is genuine, Check for signs of labour fraud in construction, What to do when an employee dies, Receive Income Tax or PAYE repayments on behalf of others, Collecting the right tax from wealthy individuals, Set up a private limited company, Claim tax relief on your private pension payments Employment Status Manual, and Named tax avoidance schemes, promoters, enablers and suppliers.

In Irish news, the OECD has published the Economic Survey of Ireland 2025, and we issue a reminder that the deadline for submitting the 2024 Special Assignee Relief Programme employer return is 23 February 2025. In UK news, the UK Government has launched a consultation on e-invoicing and HMRC’s Making Tax Digital user research programme is seeking volunteers. In International news, the OECD is to publish a consolidated report on Amount B as part of the Two-Pillar solution on BEPS. Ireland 1. Read about the OECD’s recently published Economic Survey of Ireland 2025 and the key messages from the report. 2. We remind readers that the Special Assignee Relief Programme (SARP) employer return for 2024 is due for submission by 23 February 2025. UK 3. The UK Government has launched a consultation on e-invoicing which will run for twelve weeks. 4. HMRC’s Making Tax Digital programme is looking for volunteers to assist with user research. International 5. Read about the consolidated report to be published by the OECD on Amount B. 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 News by updating your preferences in MyAccount. You can also read this week’s post EU exit corner.

Revenue has recently updated three other Tax and Duty Manuals on the annual average exchange rates, licences for employees in private security, and charges on income for corporation tax. Details on these updates are set out below. The manual Annual Average Exchange rates includes the average market mid-closing rate relative to the euro, for the calendar year 2024. The manual Mandatory Licences for Employees in Private Security provides details to relevant taxpayers on claiming tax relief for the cost of a mandatory licence required for the performance of the taxpayers employment duties. The manual on Charges on Income for Corporation Tax purposes has been updated to include a new section dealing with the dissolution of companies.

Revenue has updated the Tax and Duty Manual Guidelines on PAYE Assessments to reflect Finance Act 2024. The manual has been updated to reflect the amendment introduced to the four-year time limit for making or amending PAYE assessments by a Revenue officer.  From 1 January 2025, the four-year limit commences at the end of the year following the year of assessment in which the employer return for that income tax month is made.

Revenue has updated the Tax and Duty Manual Small Benefit Exemption (SBE) to reflect Finance Act 2024. From 1 January 2025, the SBE has been updated to allow employers to give up to five qualifying incentives in a tax year to employees without incurring a charge to tax. To avail of the SBE, the cumulative annual value of the incentives cannot exceed €1,500. The manual includes details of the applicable limits in prior years on the total value and number of incentives which qualified for the exemption. Additional examples have also been included in the manual.

Revenue has issued a press release confirming that text messages claiming to come from them and which seek personal information from taxpayers are a scam. Revenue confirmed that they never request personal email through text, email or pop-up windows. Revenue advises that any emails or text messages which appear to be from Revenue and are suspected to be fraudulent or a scam should be deleted. Taxpayers should contact their local Revenue office to verify the status of any expected tax refunds. Individuals who have responded to these fraudulent emails or text messages and provided personal information are advised to contact their bank or credit card company immediately.

The annual Special Assignee Relief Programme (SARP) employer return for 2024 must be submitted to Revenue on or before 23 February 2025. The return should include details of all employees who availed of SARP relief for the period 1 January 2024 to 31 December 2024. Details on the filing of the return through Revenue’s online eSARP portal are available on Revenue’s SARP webpage.

The OECD Economic Survey of Ireland 2025 was launched last week at an event hosted by the Institute of International and European Affairs. The report notes that the domestic economy in Ireland remains robust primarily due to strong labour market performance. However, it notes that caution needs to be exercised when addressing spending pressures arising from an ageing population, infrastructure deficits, climate change and housing shortages. The key messages from the survey are as follows: Fiscal restraint is called for in the near term. At the same time, enhancing the fiscal framework, increasing spending efficiency and improving the medium-term resilience of tax revenues will be key to ensuring long-run fiscal sustainability. Preserving Ireland’s cost competitiveness requires a reduction in labour and skills shortages, lower legal costs and easing of the administrative burdens on businesses. Speedier implementation of plans and pricing emissions more uniformly across sectors is central to achieving Ireland’s ambitious climate targets. Policies to increase housing density, improve land use and development, raise productivity and lower costs in the construction sector are needed in order to boost housing supply. Commenting on the survey findings, Minister for Finance, Pascal Donohoe  said: “Our economy is in good shape and this gives us the resources and the bandwidth to address many issues. But continued economic success is not a given. The world is changing; the global economy is changing; our own economy is changing. It is incumbent upon us all – but especially those in the public sector – to prepare for these changes.”

Last September at the Labour Party Conference the Chancellor of the Exchequer announced that a consultation would be launched on electronic invoicing (e-invoicing). This consultation has now been launched and will run for 12 weeks until 7 May 2025. The Institute will be responding to this and will be engaging with members on this important issue. In the meantime, members can also email tax@charteredaccountants.ie with their views. The launch of this consultation was accompanied by a Press Release. The consultation process is accepting written responses by email or alternatively an online form can be completed. Anyone wishing to join the round table events on this consultation should email einvoicingengagement@hmrc.gov.uk. Chartered Accountants Ireland has already highlighted the significance of this change to HMRC. Ireland has been consulting on the modernisation of its VAT regime including e-invoicing which the Institute responded to in January this year highlighting the challenges that SME businesses in particular will face. In a broader context, should this proposal proceed in the UK, the timetable for its introduction will need to be very carefully considered as many SMEs are facing significant change in other areas of the UK tax system in the future; the payrolling of benefits in kind from April 2026 and the mandation of Making Tax Digital for income tax from the same date to name but two.