Revenue has published two new guidance manuals providing filing information relating to several Pillar Two tax returns. The new guidance on Top-up tax information return and notification of filer provides a user guide for entities required to file a Top-up tax Information Return (TIR). The TIR has been available for filing since the end of April this year. The guidance titled IIR, UTPR and QDTT Returns and Payments provides guidance on the filing and payment obligations and processes for IIR (Income Inclusion Rule), UTPR (Undertaxed Profit Rule) and QDTT (Qualified Domestic Top-up Tax) returns.The Top-up tax information return and notification of filer manual provides guidance on how to file a TIR or a Notification of Filer which is required in cases where the TIR has been filed in another jurisdiction and will be exchanged with Revenue. ROS access and upload instructions, links to the OECD’s detailed guidance and Revenue contact details are also included in the guidance.Relevant ROS access and upload instructions together with other relevant return filing and payment obligations are outlined in the guidance on IIR, UTPR and QDTT Returns and Payments.Prior to filing a return or making a payment, it is recommended that an entity should ensure their relevant Pillar Two registration is correct and up to date. In addition, where the constituent entities of a multinational or large-scale domestic group elect to form a QDTT group or a UTPR group, the members of the group should ensure that a group filer is appointed and that group filer completes the creation of the group on ROS.

The Department of Finance (DFIN) has published the Annual Progress Report (APR) for 2026. The APR is a legal requirement under EU law and is part of the reformed European fiscal architecture. The APR’s main purpose is to assess government expenditure growth against planned expenditure, and to provide an update on the Government’s Medium Term Structural-Fiscal Plans. The APR highlights a resilient macro-fiscal position, but one increasingly exposed to external shocks and structural vulnerabilities including the concentration of corporation tax receipts. The Department of Finance projects GDP growth of 3.1 percent in 2026 and 3.5 percent in 2027, with Modified Domestic Demand (MDD) expanding by a modest 2.1 percent this year as higher energy costs dampen consumption. Inflation has re-emerged as the dominant near-term risk, rising to 3.3 percent in 2026 due to geopolitical-driven energy price shocks, before easing to 2.5 percent in 2027 under baseline assumptions. From a fiscal perspective, Exchequer deficits of €1.2 billion for 2026 and €3.4 billion for 2027 are forecast. However, there is in fact an underlying general annual government surplus of circa €9 billion. The divergence reflects transfers to long-term savings vehicles (Future Ireland Fund and Infrastructure, Climate and Nature Fund), which are neutral on a general government basis but materially impact Exchequer metrics. Total tax receipts are projected at €110.8 billion in 2026 and €116.3 billion in 2027, with corporate tax expected to contribute €35.3 billion and €37.4 billion respectively. Corporate tax continues to account for roughly one-third of revenues, supported partly by global minimum tax reforms. At the same time, the reliance on corporation tax receipts is explicitly flagged in the report, with over half derived from a small cohort of multinationals. Income tax (€38.9 billion) and VAT (€23.6 billion) show steady growth in 2026, while excise receipts decline due to temporary policy measures aimed at cushioning energy costs. Medium-term projections underline a structural issue: despite headline surpluses and declining debt (to 58 percent of GNI* in 2026), the State runs an underlying deficit exceeding €10 billion, once volatile corporate tax receipts are stripped out.  Therefore, the key risks for the Exchequer stem from corporate tax sustainability, energy-driven inflation, and geopolitical fragmentation, alongside emerging tax base implications from AI-driven productivity shifts. Commenting on the publication, Tánaiste and Minister for Finance, Simon Harris said: “The international environment is highly uncertain it is important to be clear about where Ireland stands today. We are entering this period from a position of strength. Our labour market is operating at full employment, domestic demand has continued to expand, and the public finances remain in a relatively healthy position.While risks to the outlook are significantly tilted to the downside, this Government will continue to respond in a way that is decisive and responsible, and in a way that supports the long-term resilience of our economy”

Chartered Accountants Ireland has announced the election of Joan Curry as President at its 138th AGM in Dublin today. She takes on the role as new figures from IAASA’s Profile of the Profession 2025 highlight the strength of the Institute’s education and training model and its critical role in supplying highly skilled finance professionals to meet growing demand across business and the public sectorAccording to the report 1,164 trainees progressed to membership of Chartered Accountants Ireland in 2025, accounting for 62% of all individuals admitted to professional accountancy bodies in Ireland last year. This strong pipeline is key to supporting organisations as they navigate economic uncertainty, regulatory change, and technological transformation. This reflects the Institute’s strong and timely progression of trainees through its ACA programme.President of Chartered Accountants Ireland Joan Curry said:“This year, the Institute welcomed its 40,000th member, the result of an education programme that has been significantly overhauled. Since 2018, our syllabus has evolved to include areas such as robotic process automation, data analytics, cybersecurity, blockchain and accounting for digital assets to meet the needs of business. The programme is delivered using “adaptive” personalised learning.   “This future-proofed approach combined with pass rates of 79% in our final exams, and the strong progression through training to membership – as highlighted in IAASA’s latest statistics - is central to meeting continued demand for highly skilled professionals across the island. “For many businesses, access to talented, highly qualified professionals remains a critical challenge and the need for expertise in areas like AI, risk, governance and strategic change continues to grow. The flexibility of the modern ACA programme with multiple enrolment points throughout the year and classes beginning three times annually ensures it continues to meet the needs of businesses, their trainees and the wider economy.”Joan Curry has served on the Institute’s Council since 2018 and brings extensive experience in public financial management. She previously held the role of Head of Finance at the Department of Transport and has worked across several government departments. Joan has also contributed at an international level as a Board member of the International Federation of Accountants (IFAC), helping shape global standards and policy. Within Chartered Accountants Ireland, she has played a key leadership role, including as Chair of the Public Sector Committee, championing the interests of members and advancing best practice in governance and reporting.  Joan Curry continued:“A key priority for my year will be supporting the delivery of the Institute’s strategy, centred on educating, leading and delivering for our members. A particular focus will be on the growing impact of AI on the profession and how Chartered Accountants can lead its responsible adoption, ensuring transparency, accountability and trust in financial and business decision making.  “We will continue to use the voice of our profession to influence policy and drive tangible progress across our economies and societies. Finally, we will continue to represent the profession in a way that reflects the modern reality of what it means to be a Chartered Accountant, strengthening the pipeline of future talent and developing the leaders of tomorrow. “I would like to acknowledge Pamela McCreedy for her outstanding presidency and the significant contribution she has made to the Institute. I look forward to continuing to benefit from her counsel in the year ahead.”At today's AGM, Niall Walsh, Partner at Deloitte Ireland was elected Deputy President, and Michael Kavanagh, CEO of the Compliance Institute was elected Vice President.With over 40,000 members and 8,600 students across Ireland and internationally, Chartered Accountants Ireland remains the largest professional body on the island.

In this week's bulletin read how Ireland will receive a further €249 million under the EU Recovery and Resilience Facility, new CSO insights on labour market and social sustainability, and EPA projections showing Ireland remains off track to meet its 2030 climate targets. The bulletin also covers developments in biodiversity funding, carbon farming, climate resilience, and circular economy policy at national, European and global level, as well as the usual articles, resources and events. Chartered Accountants Ireland Chartered Accountants Ireland and British Irish Chamber of Commerce will hold panel discussion on mobilising private-sector investment in infrastructure on 9 June. Ireland and the UK face significant infrastructure investment requirements over the coming decade. A recent British Irish Chamber of Commerce briefing with Sean O’Driscoll, member of the Accelerating Infrastructure Taskforce, highlighted that Ireland requires approximately €250bn in infrastructure investment, while the UK is expected to require £1tn over the next ten years. In both markets, private-sector finance will play a critical role in delivering the scale of investment required. As governments seek to accelerate infrastructure delivery and economic growth, this discussion will explore how private-sector investment can be mobilised, the barriers that remain, and the opportunities for collaboration across these islands. Members are encouraged to register for the session on Tuesday morning 9 June from 8am–10am in Chartered Accountants House which will be moderated by Michele Connolly, member of the Accelerating Infrastructure Taskforce and former Partner and Head of Global Infrastructure at KPMG.  IrelandStrong and sustainable economy depends on timely infrastructure delivery“A strong and sustainable economy depends on the timely delivery of housing and critical infrastructure”, according to the Minister of State at the Department of Further and Higher Education, Research, Innovation and Science, Marian Harkin, TD.Minister Harkin was speaking at the Second National Skills Roundtable, which took place this week, and which focused on workforce capacity across the construction and infrastructure sectors in support of the State’s housing and infrastructure delivery priorities. Further commenting, Minister for Further and Higher Education, Research, Innovation and Science, James Lawless, TD, described strong alignment across industry, education providers and Government, and a commitment to work in partnership to ensure Ireland has the skilled workforce needed to meet Ireland’s housing and infrastructure ambitions. The outcomes of the gathering will inform ongoing work across Government to strengthen skills provision across the construction and infrastructure sectors with further roundtable events taking place over the coming months.  Ireland to receive €249m under the EU’s Recovery and Resilience Facility Ireland is to receive its fourth payment of €249 million under the EU’s Recovery and Resilience Facility (RRF). The RRF is the main pillar of the European recovery plan, NextGenerationEU, designed to combat the economic and social effects of the COVID-19 pandemic and make the European economy more resistant to future shocks. It entered into force on 19 February 2021 and finances reforms and investments in EU Member States made from the start of the pandemic in February 2020 until 31 August 2026.  Read more from Chartered Accountants Ireland.CSO publishes Business in Ireland 2025 - Labour Market and Social SustainabilityThe Central Statistics Office (CSO) has published Business in Ireland 2025 - Labour Market and Social Sustainability, the fourth in a series of releases that looks at data relating to enterprises through the lens of sustainability. The release looks the factors that can impact enterprise economy sustainability, and how enterprises impact more broadly on social sustainability in Ireland (living standards, gender equality, etc.). Read more from Chartered Accountants Ireland here.EPA Projections show Ireland remains off track for 2030 ClimateThe Environmental Protection Agency (EPA) has published its greenhouse gas (ghg) emissions projections for the period 2025-2055. The projects show that Ireland could achieve a reduction of up to 25 percent in ghg emissions by 2030 with full implementation of a wide range of policies and plans across all sectors. This is a shortfall on its national target of 51 percent. While Ireland will be close to meeting the first carbon budget, the report find that nearly all sectors are on track to exceed their sectoral emissions ceilings for the second carbon budget by 2030; however, Ireland is projected to exceed its EU Effort Sharing Regulation target of 42 percent reduction by 2030. With less than four years left to 2030, the EPA warns that a strong focus must be put on implementation of policies and measures to meet climate targets which it notes will deliver wide-ranging benefits from environmental protection, supporting public health and wellbeing and reducing Ireland’s dependence on fossil fuels.Report publishes on National Carbon Farming Framework for IrelandMinister for Agriculture, Food and the Marine, Martin Heydon, TD, has published a report on the public consultation on a draft set of principles to develop a National Carbon Farming Framework. This framework aims to increase the ambition and participation of our land managers in the areas of carbon removal, emission reductions, and ecosystem services. The overall objective of the consultation was to support policy development and facilitate the adoption and scaling of Carbon Farming management practices within agriculture's primary production system, thereby contributing towards Ireland achieving its climate, biodiversity and water quality targets. Commenting, Minister Heydon described one of the aims of framework as giving confidence to those wishing to invest in Carbon Farming.€3 million funding announcing for biodiversity projectsMinister of State for Nature, Biodiversity and Heritage, Christopher O’Sullivan TD, has announced the allocation of €3 million in funding under the Local Biodiversity Action Fund (LBAF) 2026. The Fund is operated by the National Parks and Wildlife Service (NPWS) to assist Local Authorities to carry out projects that target the objectives of Ireland’s 4th National Biodiversity Action Plan (NBAP) 2023-2030. A diverse range of local authority-led projects have been selected for support through the fund, to support conservation, action on invasive species and habitat management across all 31 local authorities. The value of national ecosystem services in Ireland, in terms of their productive output and human utility, has been estimated at over €2.6 billion euros per year, making their protection an economic imperative. Northern Ireland/UKMinister Muir announces £380,000 in funding to improve water qualityMinister of Agriculture, Environment and Rural Affairs, Andrew Muir, has confirmed that more than £380,000 has been allocated to 16 water quality projects, including 11 within the Lough Neagh catchment. The projects are to be funded under the Water Quality Improvement Strand of the Environment Fund, following open competition earlier this year, and builds on the achievements of 2025/26, which saw £347,000 delivered to improve water quality. The 16 projects support a wide range of activities that connect people to the aquatic environment; conserve and restore water habitats; and promote nature-based solutions for climate mitigation and adaptation.Minister Muir earlier outlined his vision for a ‘nature positive society’ in which he stated that focusing on environmental protection is an investment in long term health, resilience and economic prosperity. During an address to the Northern Ireland Environment Forum, Minister Muir described climate change as “the defining challenge of our generation,” as evidenced by increased flash flooding, wildfires, other extreme weather events and pressures on farming, food systems and infrastructure which will continue to worsen.  A Well-Adapted UK – 4th Independent Climate Change Risk Assessment publishesThe UK Climate Change Committee has published its 4th Independent Climate Change Risk Assessment (CCRA4-IA), containing a technical assessment of the evidence on the impacts of climate change and assessing 41 risks for the UK. It explains, among other things, how today’s climate impacts are already causing over £6 billion of damages each year. It also warns that without action to build resilience, the cost is set to increase to around £10 billion each year by 2030 and over £18 billion by 2050. As well as the risk assessment, a new complementary element has been introduced called the ‘Well Adapted UK Report' which describes the potential steps that can be taken to address these risks. Commenting, Minister of Agriculture, Environment and Rural Affairs, Andrew Muir, stated “The report highlights that early investment is crucial to reducing more severe financial impacts in the future. […] Whilst the publication of Northern Ireland’s third Climate Change Adaptation Programme marked a crucial step in strengthening our resilience there is still much work to do. The recommendations of the Well Adapted UK report are a welcome addition to the Climate Change Committee’s Fourth independent risk assessment which we will use to help build resilience and guide the development of our next Adaptation Programme.”EuropeSpring 2026 Economic Forecast publishes as energy shock drives up inflationThe European Commission’s Spring 2026 Economic Forecast predicts a slowdown in growth as energy shock drives up inflation. The conflict in the Middle East delivered “one of the most significant global energy supply disruptions in recent history”, coming less than five years after the energy shock triggered by Russia’s war against Ukraine. Global growth (excluding the EU) is now projected at 3.1 percent in 2026 and 3.5 percent in 2027. The forecast predicts that faster implementation of structural reforms addressing long-standing bottlenecks to EU growth remains “an important upside risk to the outlook” with strong public investment in sectors such as defence and the energy transition having the potential to offset some of the weakness expected in the private sector. It also points to the balance needed in the use of AI, which it notes represents both opportunity and risk: productivity gains could support investment in the EU, while labour market disruption could weigh on demand. New ICT toolkit for integrated climate change assessmentThe EU-funded NEVERMORE project has developed an ICT toolkit, which combines climate science, socio-economic data, and stakeholder knowledge to promote integrated climate change assessment. The open-access toolkit contains a catalogue explorer, case study tool, EU-global scale tool, and gamification tool to support scenario evaluation, policy prioritization, and stakeholder learning. The toolkit can also be explored through a dedicated MOOC programme available on the project website.European Parliament calls for ‘European carers’ statute’The European Parliament is calling for a “European carers’ statute” to recognise care work and to set minimum standards across the EU. MEPs also want to make sure informal carers are recognised in pension schemes and social security systems.  In its presentation of recommendations to move towards a society that promotes equality between men and women in formal and informal care, the Parliament advocated for a “care society” that prioritises home and community-based services, intergenerational solidarity, and independent living. MEPs also welcomed the European Commission’s announcement that it will present a European “care deal” in 2027.  In a report adopted in plenary by 263 votes to 83 and with 154 abstentions, MEPs stated that access to care is a fundamental right and urge EU countries to address gender inequality across all forms of care.WorldUN adopts resolution on legal obligation to combat climate changThe UN General Assembly has voted 141-8 in favour of a landmark resolution backing a climate opinion issued by the International Court of Justice, which argues that countries have a legal obligation to address climate change, as well as reduce the use of fossil fuels. Read more from Sustainable Online.Linear economy costs €1 out of every €3 in economic value created globally The 2026 Global Circularity Gap Report has found that 31 percent of global gross domestic product amounting to €25.4 trillion in value annually is avoidably lost in today’s linear economy. For every €3 of economic value created globally, about €1 is lost. Losses include material and product mismanagement, as well as the costs unaccounted for in the linear economy, where resources are extracted, turned into products and then discarded prematurely. The report, titled The Value Gap redefines this as representing a significant strategic opportunity to redesign systems, capture lost value, strengthen economic resilience and build more resilient, competitive and future-ready business models. Circular strategies can retain and recover much of that value by improving the management of materials and products, but the report warns that achieving circularity at scale requires collaboration among businesses, policymakers, and financiers to help address systemic value loss and unlock opportunities. Technical Roundup(from our colleagues in Professional Accounting)The European Commission have issued a call for views on the draft regulation for the Revised ESRS and on draft delegated regulation for the VSME. The International Sustainability Standards Board (ISSB) has published the transcript of a speech that its Chair, Emmanuel Faber, held at the International Sustainability Conference in Beijing on 23 April 2026.ResourcesHow Can Sustainability Leaders Speak the Language of BusinessAs sustainability evolves, leaders need to connect sustainability to strategy, incentives, and business value. David Carlin explains how. Accountancy Europe Sustainability UpdateAccountancy Europe has published its May Sustainability Update with the following highlights:ENVI-ECON hold exchange of views on EU Taxonomy RegulationSFDR revision advances in the legislative processEuropean Commission simplifies implementation of EU Deforestation RegulationNew FAQs on Taxonomy Disclosures DAEuropean Commission adopts DAs under ESG Ratings RegulationOECD recommendations on sustainable bonds ArticlesEU Pay Transparency Directive - what it means for Irish businesses (RTÉ)Stalling for time on EU Pay Transparency directive? That’s a business fail (Irish Times)How much mortgage debt could be swamped by floods (Business Post)Data centres to consume tenth of global power by 2050 (City Am)Artificial intelligence spells a real climate disaster (Irish Times)Beyond Compliance: Leading with AI and Sustainability (Accountants Today) Fiber Is the New Bottleneck: Why AI Data Center Returns Are Now at Risk (Global Data Centre Hub)Two thirds of technology firms believe renewables will supply most energy for AI within five years (Sustainable Online)Why nature loss is now a business-critical risk (ICAEW)Record number of firms in Ireland achieve top climate rating (RTÉ)‘Planning delays biggest infrastructure barrier’ (Law Society Gazette)Solar energy surges as grid taps into Ireland’s of sunny spell (Irish Times)Events European Environment Agency, Webinar: How to finance and scale up Europe’s circular economy and ensure a just transition?What is required to boost progress on the circular economy agenda in Europe? How can it be scaled up and financed, and how to ensure that the benefits of circular economy are shared in a just way?Virtual, Jun 4, 2026, 12:00 PM to 1:00 PMUN Global Compact Network Canada, Annual Sustainability Reporting Peer Review Group (ASPiRe) — Now Open for RegistrationThis structured peer review programme offers an exceptional opportunity for sustainability and communications teams to strengthen the quality and credibility of their sustainability disclosures — including Communications on Progress (CoPs). Registration Deadline: 5 June 2026 | Programme: July–October 2026European Environment Agency, Webinar: What are the benefits of circular economy?Transition to a more circular economy will not make products rounder. A circular economy reduces pressures to the environment and climate, while it fosters our economic security. But how much good precisely does a circular economy do?Virtual, Jun 11, 2026 from 12:00 PM to 1:00 PM Dublin Chamber, New EU Packaging Rules: Briefing with Repak The EU’s new Packaging and Packaging Waste Regulation (PPWR) will bring major changes for businesses across Ireland and Europe. Join Dublin Chamber and Zoe Kavanagh, CEO at Repak, for a practical and commercially focused briefing exploring what PPWR means for Irish businesses, the timelines companies need to be aware of, and the steps organisations should begin considering today. In person, Wed 17 Jun 2026, 08:30 AM - 10:00 AM, Dublin Chamber, 7 Clare Street, Dublin 2 D02 F9O2  Sustainability CentreYou can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

Ireland is to receive its fourth payment of €249 million under the EU’s Recovery and Resilience Facility (RRF). The RRF is the main pillar of the European recovery plan, NextGenerationEU, designed to combat the economic and social effects of the COVID-19 pandemic and make the European economy more resistant to future shocks. It entered into force on 19 February 2021 and finances reforms and investments in EU Member States made from the start of the pandemic in February 2020 until 31 August 2026. Ireland’s RRF Allocation is €1.15 billion. Payments under the RRF are performance-based, meaning that the Commission only pays out the amounts to each country when they have achieved the agreed milestones and targets towards completing the reforms and investments included in their plan. Ireland has already received its first three payments under the Facility based on the successful implementation by Ireland of the investments and reforms as set out in its National Recovery and Resilience Plan (NRRP). The plan covers the priorities of Advancing the Green Transition, Accelerating and Expanding Digital Reforms and Transformation, Social and Economic Recovery and Job Creation, and REPowerEU. The fourth payment request relates to 8 milestones and targets and includes investments such as construction of an extended platform at Cork’s Kent station to enable future electrification in Cork commuter rail; construction of a Government data centre; e-Health projects that support the digitalisation of the Irish healthcare system; Solas’ Recovery Skills Response Programme (e.g. Green Skills Action Programme and the Skills to Compete Initiative) to support the reskilling and upskilling of workers; and Technological Universities Transformation Fund to build capacity in education and training in technological universities.In addition, Ireland’s fourth payment request includes a reform in offshore renewable electricity to accelerate the uptake of offshore renewable energy sources.

The Central Statistics Office (CSO) has published Business in Ireland 2025 - Labour Market and Social Sustainability, the fourth in a series of releases that looks at data relating to enterprises through the lens of sustainability. The release looks the factors that can impact enterprise economy sustainability, and how enterprises impact more broadly on social sustainability in Ireland (living standards, gender equality, etc.).The report finds that total employment (employees and self-employed) was 2.8 million in Q4 2025, with the number of employees increasing by 355,332 between 2019 and 2024. Non-Irish nationals contributed 61 percent or 218,261 of the growth. Some sectors of the enterprise economy are more reliant on non-national labour supply than others, particularly Administrative & Support Services (45.6 percent), Accommodation & Food Services (45.1 percent), and Information & Communication (41.4 percent) sectors. Compared with the EU, Ireland’s labour market has a different sectoral profile: the Information & Communication sector which, in 2024, accounted for 6.7 percent of employments in Ireland is almost double the EU average for this sector (3.5 percent). The report contains information on educational attainment, contribution from the enterprise economy to broader social sustainability, median weekly earnings from all sectors, and enterprises’ responsibilities in relation to gender equality. It also notes that Ireland’s demographics are changing, with fewer births and an ageing population, which could have implications for future labour supply.Commenting on the release, Morgan O’Donnell, Statistician in the Sustainability, Circular Economy & Transport division said: “Sustainability is of increasing importance to enterprises, in terms of meeting environmental regulations and expectations, but also from an economic and social perspective. There is increasing national and international recognition that economic growth alone is not a sufficient measure of success, and that long term prosperity depends on achieving a balanced integration of economic, environmental, and social outcomes. This release is the fourth in a series which attempts to build that broader picture and provide greater insights for enterprises around sustainability and climate targets.”

June marks the month-long celebration of Pride and it is great to see the country awash with the colourful rainbow, a meaningful representation of inclusion, solidarity and progression.Dublin saw its first-ever Pride demonstration take place in June of 1974, as a small group of activists marched from the Department of Justice on Stephen’s Green to the British Embassy on Merrion Road calling for the decriminalisation of homosexuality in Ireland. This year's theme is 'One Story - Many Voices' about the thread that connects us across time, across borders, across very different lived experiences.Although overall societal shifts and diversity and inclusion initiatives have made great strides in supporting and celebrating our LGBTQI+ community, our work at Thrive shows that difficulties, hardship and discrimination still remain, and members of our community continue to feel these effects.Pride Month is a time to celebrate the LGBTQI+ community, but it also highlights the ongoing mental health challenges faced by many within the community. Studies in Ireland show that LGBTQI+ individuals experience disproportionately higher rates of depression, anxiety, and suicidal thoughts compared to their heterosexual and cisgender peers. A survey released by Trinity College in association with Belong To and GLEN  indicate that mental health and wellbeing have declined amongst the LGBTQI+ since its initial study back in 2016.  Amongst the total LGBTI+ population within the study, the report also shows that 34% experienced severe/ extremely severe symptoms of anxiety, 64% reported suicidal thoughts, while 52% had self-harmed. 60% had sought professional help for a mental health problem in the past five years. The Central Statistics Office (CSO) also found that those who identify as LGBTQI+ reported the highest rates of discrimination in Irish society and 17.5% of the community have experienced workplace discrimination. Coping with such concerns can have a detrimental impact on our wellbeing, self-esteem and the general navigation of our daily lives. Feeling empowered to express who you are freely in the workplace and beyond is crucial to your mental health. If you are struggling with any worries or challenges around these important personal issues, Thrive is here to help all year around. We offer a wide range of services including free counselling services and career coaching to support our community who are in need.Happy Pride!

In Irish news, the Tax Appeals Commission has published its 2025 Annual Report and Revenue has published updated guidance on capital gains tax clearances for non-resident vendors. In UK news, Eunan Ferguson, newly appointed Chair of the Northern Ireland Tax Committee, reflects on the Committee’s current priorities, and the UK Government has announced a range of temporary measures to reduce certain costs over the summer period. In International news this week, the OECD has released a common understanding agreed by jurisdictions implementing the Global Minimum Tax from 2024.Irish1. The Tax Appeals Commission has recently released its 2025 Annual Report providing an overview of the tax appeals process during the year.2. Revenue has issued updated guidance on capital gains tax clearance procedures for non-resident vendors.UK3. Read an article by the new Chair of the NI Tax Committee outlining the Committee’s main priorities. 4. The UK Government has unveiled a series of temporary measures designed to help lower living costs for families and businesses.International5. A common understanding has been agreed by relevant jurisdictions implementing the Global Minimum Tax from 2024.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 Cross-border developments and trading corner.  

The latest six-monthly SME Business Sentiment Survey from Chartered Accountants Ireland and GRID Finance has found that confidence has weakened sharply, with 71% of SMEs less optimistic about the economic environment than they were six months ago, up from 54% in October 2025.The survey measures and tracks the experience, confidence and sentiment of SMEs, including small accounting practices, doing business in Ireland. The inaugural survey took place in April 2025 followed by the second survey in October 2025.  Profitability concerns and increasing costsThe sharp rise in SME pessimism is unsurprising given that just one quarter (25%) of companies reported increased profitability, compared to 32% in October 2025. Cost pressures continue to rise, with 84% reporting an increase in business costs. 38% of SMEs cite staff costs as the biggest financial challenge, while 54% say rising costs are the biggest challenge affecting competitiveness, highlighting the growing risk to SME viability and growth.Geopolitical uncertainty and energy costs causing SMEs concernRecent global events are also weighing heavily on SMEs, with almost half of business owners (48%) ranking geopolitical uncertainty and associated cost and supply chain impacts as the biggest challenge to their business over the next 12 months.This uncertainty is reflected throughout the survey findings with one-third (33%) of SMEs stating that energy costs and energy security have the greatest impact on their business operations when it comes to infrastructure.Cróna Clohisey, Director of Members and Advocacy, Chartered Accountants Ireland said:“These findings point to a worrying trend for SMEs, with cost pressures intensifying and profitability declining compared to six months ago.  SMEs are being squeezed from all sides – by rising wages needed to retain staff, persistent increases in day-to-day operating costs and energy and regulatory pressures, making it harder to maintain margins and retain staff. These are no longer temporary headwinds; they are embedded challenges that are eroding margins, weakening competitiveness and driving a much more cautious business outlook. As a result, more businesses now expect to be worse off (29%) than better off (28%) in the months ahead.“There is also clear evidence that existing government supports are not reaching businesses effectively. While almost half of SMEs (47%) say that they need energy cost supports – up 19 percentage points in a year, less than one in 10 have applied and half (50%) of SMEs say these supports are not effective. Making these supports more accessible and more effective must now be a priority.”SME priority areasReducing the regulatory and compliance burden remains the area most in need of government support (54%), even higher than demand for tax relief or access to grants or loans. This theme is also reflected in SMEs’ priorities for Ireland’s upcoming Presidency of the Council of the EU, with two-fifths (40%) of businesses calling for simplification of EU regulatory requirements.Businesses also identified priorities for Budget 2027, with 28% of respondents citing the indexing of income tax credits and bands as their top priority.Ms Clohisey continued:“We’re also hearing directly from businesses about the growing pressure on take-home pay for both owners and employees. With living costs continuing to rise, it’s becoming harder to retain staff and plan ahead. It’s no surprise that 28% of SMEs are prioritising the indexing of income tax credits and bands - this is about easing the pressure on households as well as businesses.”Eoin Christian, CEO, GRID Finance said:“As an organisation that works closely with SMEs, it is crucial for us to understand their outlook. This survey sheds light on the key challenges businesses are facing, including rising costs and geopolitical uncertainty.  “Despite these growing challenges and the downturn in profitability, it is notable that the demand for borrowing remains largely unchanged. This suggests that while their economic outlook has weakened, the demand for borrowing has not slowed down. GRID Finance can help SMEs find their way through this tumultuous economic environment with the right supports.”

Jurisdictions implementing the Global Minimum Tax from 2024 have agreed a common understanding to preserve the administrative and compliance benefits of the central filing mechanism for the GloBE Information Return (GIR) as follows:Publication of a list of jurisdictions expected to have a fully operational GIR filing portal in place by 31 May 2026, andUse domestic legislation to waive penalties or not enforce local GIR filing obligations where the GIR has been centrally filed by the relevant deadline in any of the jurisdictions in the published list.

In this week’s cross-border trading corner, we bring you the latest guidance updates and publications. 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. HMRC has sent a follow-up email after last week’s webinar on the replacement service for the Trader Support Service, in addition to a link to the webinar recording. And finally, the European Affairs Committee held an evidence session last week as part of its inquiry into dynamic alignment.Miscellaneous guidance updates and publicationsThis week’s miscellaneous guidance updates and publications are as follows:Customs, VAT and excise UK transition legislation from 1 January 2021,Reference document for authorised use: eligible goods and authorised uses,Reference documents for The Customs (Reliefs from a Liability to Import Duty and Miscellaneous Amendments) (EU Exit) Regulations 2020,Reference Documents for The Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020,Reference Documents for The Customs Tariff (Suspension of Import Duty Rates) (EU Exit) Regulations 2020,Reference Documents for The Customs (Tariff Quotas) (EU Exit) Regulations 2020,UK Trade Tariff: duty suspensions and autonomous tariff quotas,Notices made under the Customs (Northern Ireland) (EU Exit) Regulations 2020 ,Applying for Temporary Admission,Special procedure: temporary admission,Clearing goods entering, leaving or transiting the UK,UK import trade in goods by country of origin and country of dispatch, 2024,Reference document for authorised use: eligible goods and authorised uses,Reference documents for The Customs (Reliefs from a Liability to Import Duty and Miscellaneous Amendments) (EU Exit) Regulations 2020,Reference Documents for The Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020,Reference Documents for The Customs Tariff (Suspension of Import Duty Rates) (EU Exit) Regulations 2020, Reference Documents for The Customs (Tariff Quotas) (EU Exit) Regulations 2020,Additional Note 1 to Chapter 95 (Repealed) (Tariff notice 8), andUK Trade Tariff: duty suspensions and autonomous tariff quotas,

Revenue has updated guidance on remote working relief and the guide to self-assessment to consolidate material and to remove outdated information. The guidance on the Form P11 D has been updated to provide information on the application of penalties.