Revenue has published new guidance providing details on the VAT treatment of extended warranties, manufacturers warranties and commission payments to retailers. The guidance outlines that the supply of an extended warranty is a VAT exempt supply of an insurance service where it meets the definition of insurance. The guidance contains relevant examples and outlines the meaning of insurance, extended warranties and manufacturers’ warranties.

The EU Council has agreed to introduce a temporary customs duty on parcels sent directly to consumers from third countries. Starting in July 2026, a €3 customs duty per item will apply on e-commerce parcels valued below €150.

The guidance on the Offshore Funds regime has been updated to clarify that that a reference to an offshore fund applies only to a foreign company, unit trust scheme, or co-ownership arrangement in which a person holds a ‘material interest’. Other relevant updates include: The use of the term ‘reasonably expected’ in accordance with section 743(2) TCA 1997 has been reflected in the guidance, and contact details for applications to Revenue for certification as a distributing offshore fund are included.

Revenue issued an e-brief last week outlining the new stamp duty exemption on acquisitions of stocks and marketable securities provided for by Finance Bill 2025. The note outlines the conditions applying to the exemption and the effective date of its introduction. The exemption will apply where: The securities are admitted to trading on a regulated market or a multilateral trading facility within the EU, or on an equivalent third country market, the issuing entity’s market capitalisation was below €1 billion on 1 December in the preceding year, and a valid notification of the applicable market capitalisation was submitted to Revenue within the specified timeframe. Where securities are admitted to trading after 1 December, the exemption may still apply if the issuer’s expected market capitalisation upon admission is below €1 billion. Subject to enactment of the relevant provisions in Finance Bill 2025, the exemption will take effect from 1 January 2026 and remain in place until 31 December 2030. As the exemption depends on timely notification to Revenue of the applicable market capitalisation, an overview of the proposed measure has been published on the Revenue website including instructions for submitting a notification together with links to the relevant forms. Comprehensive guidance is expected to be issued once Finance Bill 2025 has been enacted.

The EU Parliament’s Subcommittee on Tax Matters held a public hearing on the taxation of ultra-high-net-worth individuals. Noting diverse opinions on the impact of potential new wealth taxes on individuals, the committee recognised the need for equitable tax rules that foster sustainable growth and strengthen competitiveness.

Revenue has published two new guidance documents providing details on the VAT treatment of establishing and managing a pension scheme and the VAT treatment of the management of pension schemes. The new guidance consolidates information from previous related guidance documents, which have now been withdrawn. The guidance on the VAT treatment of establishing and managing a pension scheme provides information on the relevant conditions for VAT deductibility in respect of costs incurred in the establishment, on-going management, administration, and management of the assets of a pension scheme. Examples are included outlining the VAT treatment in situations where a pension scheme reimburses costs incurred by the employer and where the employer reimburses the pension scheme. The new guidance on the VAT treatment of the management of pension schemes provides information on VAT treatment and VAT deductibility of defined benefit and defined contribution schemes. Previous guidance on the VAT treatment of the management of defined benefit pension schemes and the management of a defined contribution occupational pension scheme are now marked as no longer relevant.

The OECD has published its report on Revenue Statistics for 2025. The report provides data on tax revenues in OECD countries which had reached their highest-ever level in 2024, mainly driven by labour taxes.

Readers are reminded that today is the payment deadline for capital gains tax (CGT) liabilities arising in the period 1 January to 30 November 2025. Revenue’s CGT webpage details how to register for CGT via MyAccount. CGT payments can be made online using a debit/credit card or a one-off single debit instruction. Readers should ensure that any debit instruction mandated in the last few weeks will still be active at the time the payment is taken. Revenue has advised that ROS Debit Instruction (RDI) mandates expire after 36 months if a payment has not been authorised during that time (due to restrictions in banking). Therefore, if an RDI is set up before the expiry of the 36-month window and the payment is taken after the 36-month window (assuming no other payments have been authorised during that period), the RDI may not be processed, putting the taxpayer into a default position.

As previously reported in Tax News, the Department of Finance published its Revised General Scheme of Finance (Tax Appeals and Fiscal Responsibility) Bill 2024, which contained, among other things, proposals to substantially alter the adjudication process at the Tax Appeals Commission. As part of the pre-legislative scrutiny process of the Bill, the Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation were inviting submissions from interested groups. On Friday, the Institute sent in our submission to inform the discussions. Our fundamental concern relates to the proposal that adjudication at the Tax Appeals Commission would be in private in exceptional circumstances only and that redaction of determinations would be at the discretion of the Appeals Commissioner. You can read our full submission here. Our view is that appeals heard by the Tax Appeals Commission (TAC) can be substantially differentiated from those heard by the Workplace Relations Commission (WRC): In Zalewski v Adjudication Officer and the Workplace Relations Commission, Ireland, and the Attorney General [2022] 1 IR 421 (“Zalewski”), the individual had no right to have a hearing before the WRC heard in public. It is already the case that a taxpayer can make an application to have an appeal before the TAC heard in public. Unlike the WRC, the TAC does not arbitrate between private parties (as was the case in Zalewski, which concerned the operation of the WRC). The role of the TAC is to consider and determine whether an assessment made by the Revenue Commissioners (an executive arm of the State), should be confirmed or varied. Fundamental to the operation of the self-assessment tax compliance process is the principle of confidentiality of taxpayer data. The proposed amendments to the TAC procedures must be established in light of this fundamental and legislatively enshrined principle. This starting point therefore necessitates that the fundamental principle of public hearings must be limited for cases heard at the TAC. We also note that the TAC, under its current procedural mandate, preserves a taxpayer’s right to privacy under Article 40.3.1 of the Constitution. To the extent that any amendment is made, it should ensure that a taxpayer’s right to privacy remains protected with an irrefutable right to request a private hearing and redaction of identifying information for all cases brought before the TAC.

Revenue is extending the timeline for the completion of the Large Corporates Division (LCD) VAT modernisation and eInvoicing survey to 5pm on 16 January 2026. We encourage members working in VAT-registered businesses under the remit of LCD and those advising LCD VAT-registered businesses to share their insights with Revenue and to urge their clients to complete the survey. Please note, while the survey requests the business name and tax registration number, these are not mandatory and do not need to be provided in order to complete the survey. You can leave these boxes blank and still respond. The survey has issued, on 20 November, directly to businesses through Revenue’s Online Services (ROS) and the results will inform Ireland’s implementation of the EU’s VAT in the Digital Age (ViDA) package and the implementation of eInvoicing in Ireland. Queries can be sent to VATmodernisation@revenue.ie, and all relevant updates on VAT modernisation will be published at revenue.ie/vatmod. Further details regarding the survey are included in our earlier newsletter item.

  In this week’s Sustainability/ESG Bulletin, read about the speech by Central Bank of Ireland’s Governor Gabriel Makhlouf highlighting the need to ensure climate action remains a priority for the financial sector. Also covered are the new measures to enhance road transport’s safety and environmental impact, EFRAG’s draft simplified European Sustainability Reporting Standards and its new ESRS Knowledge Hub, developments in sustainability reporting and due diligence legislation, and the World Economic Forum’s report finding that growth in green investments has not wavered, as well as the latest articles, resources, jobs and upcoming events. IRELAND “A real economy transition” The Central Bank of Ireland’s Governor Gabriel Makhlouf has delivered a speech at the Climate Risk and Sustainable Finance Forum this week where he highlighted the need to ensure climate action remains a priority for the financial sector, and emphasised the Central Bank’s focus on climate risk and sustainable finance. Explaining the need for a focus on tangible outcomes that support the transition and adaptation, Governor Makhlour encouraged the Forum to continue to promote a collaborative approach to how the financial sector supports the transition and adaptation: “We must recognise that the journey to net-zero is, at its core, a real economy transition. The financial sector’s task is not just to manage the risks on its balance sheets, but to provide the incentives and the funding to ensure that households and businesses make the low-emission choices required to secure our collective future. My call to you is that we commit to staying the course together.” New measures to enhanced road transport impact The Minister of State with responsibility for International and Road Transport, Logistics, Rail and Ports, Seán Canney, TD has welcomed EU Council agreement on two major legislative initiatives: the Weights and Dimensions Directive and the Roadworthiness Package. The revised Weights and Dimensions Directive, among other things, promotes the use of zero-emission trucks by allowing them to exceed standard weight limits, supporting the decarbonisation of transport across the European Union. The Roadworthiness Package consists of two legislative proposals to enhance road safety and environmental protection. Following approval by the Council, the presidency can start negotiations with the European Parliament to reach a final agreement. EUROPE EFRAG issues draft simplified European Sustainability Reporting Standards and launches ESRS Knowledge Hub The European Financial Reporting Advisory Group (EFRAG) has published the draft simplified European Sustainability Reporting Standards (ESRS), along with its technical advice to the European Commission. In its press release, EFRAG have highlighted many of the simplifications implemented which it hopes will help reporting companies integrate sustainability reporting into their business. Read more from our Professional Accounting team. “An alarming dismantling of good policymaking”  The EU parliament and member states have reached a provisional deal to update EU rules on sustainability reporting and due diligence requirements for companies. Social and environmental reporting will only be required for EU companies employing on average over 1,000 employees and with a net annual turnover of over €450 million. The net turnover threshold has also been increased for non-EU companies to €450 million generated in the EU for sustainability reporting. Only large EU corporations with more than 5,000 employees and a net annual turnover of over €1.5 billion will need to carry out due diligence to minimise their negative impact on people and the planet, and will no longer need to prepare a transition plan to make their business model compatible with the Paris Agreement. They will remain liable at national rather than EU level for non-compliance and could face fines of up to 3 percent of the company’s net worldwide turnover, reduced from 5 percent as previously stated.  The rules will also be delayed by a year, coming into force from July 2029. Some commentators are likely to welcome the row back: several companies had reportedly consistently lobbied against the regulation, due to be phased in from 2027, which would have required in-scope companies to ensure that their supply chains do not harm the environment or human rights.  Others commentators, like Richard Gardiner, interim head of EU Policy at ShareAction, reportedly described it as “an alarming dismantling of good policymaking” after intense pressure: “These losses matter. They do not make Europe more competitive. Instead, they weaken Europe’s unique competitive edge.” The announcement comes less than a week after Parliament and Council negotiators reached a provisional political agreement on a one-year postponement of the EU Deforestation Regulation for all businesses. Provisional agreement on EU Climate Law amendment Negotiators from Parliament and Council have reached a provisional political agreement on an amendment to the EU Climate Law, setting a new, intermediate and binding 2040 EU climate target of reducing net greenhouse gas (GHG) emissions by 90 percent compared to 1990 levels. Also agreed on Tuesday was the introduction of ‘new flexibilities’ in how the 2040-target can be met. The EU Climate Law makes the goal of climate neutrality by 2050 a legally binding obligation for all EU member states, establishing a legally binding target for the EU to reduce net GHG emissions by at least 55 percent by 2030, compared to 1990 levels. The European Parliament will now vote on the informal agreement and Council will also have to endorse it. It will enter into force 20 days after it has been published in the EU Official Journal. December issue of Accountancy Europe’s Sustainability Update Accountancy Europe’s December Sustainability Update published this week, with the following highlights: EFRAG provides technical advice with draft Amended ESRS to Commission ENVI-ECON Committees reject motion for resolution to object EU Taxonomy ‘Omnibus’ DA European Parliament supports further delay and simplifications of Deforestation-Free Products Regulation Ombudswoman finds Omnibus I a case of maladministration European Commission simplifies rules for sustainable financial products IAASB provides examples on how to apply ISSA 5000. WORLD The World Economic Forum has published a report finding that, overall growth in green investments has not wavered, despite recent headlines suggesting the climate transition is stalling. The report, published in collaboration with Boston Consulting Group, is titled Already a Multi-Trillion-Dollar Market: CEO Guide to Growth in the Green Economy Worth over $5 trillion per year, and identifies the green economy as the world’s most dynamic growth sector after technology. It suggests that green revenues are growing twice as fast as conventional revenues on average, and companies operating in these markets are typically gaining access to cheaper capital and often enjoy premium valuations on capital markets. ARTICLES Five steps to more inclusive communication (ICAEW) Focus on gender balance is paying off for Irish companies, says B4BB (Irish Examiner) ICYMI Sustainability in Practice: Setting up for Success (ICAEW) EU strikes deal to further weaken corporate sustainability laws (RTÉ) RESOURCES ICAEW has published a primer for finance teams unlock long‑term business value while working with nature. Embedding nature into business: A primer for finance teams links nature‑related information to an organisation’s activities, processes and tools, so allows teams to make nature‑related risks and opportunities visible, manageable and integrated into every decision the organisation makes. It was developed by ICAEW as an output of A‑Track, a four‑year, €11 million project that aims to accelerate transformative action for nature by business, financial institutions and government. Future work by ICAEW in the A‑Track project will build on this foundation, developing additional targeted resources, case studies and training opportunities to support finance and accounting professionals in their daily work. EVENTS Pentland Centre for Sustainability in Business - Lancaster University,  SMEs - Learning about Nature and Biodiversity This is the first in a series of three free webinars from the Pentland Centre for Sustainability in Business aimed at SMEs curious about nature and biodiversity links to business activity. This session provides a natural science introduction to ecosystems and explains how these aspects impact business operations, with examples from different sectors. Virtual, Thursday 15 January 2026, 8:00am – 9:00am | 4.00pm – 5.00pm Dublin Chamber, The Sustainability Academy: Green Public Procurement Training Join us on Wednesday the 4th of February for Half-day virtual workshop on Green Public Procurement as part of Sustainable Academy, sponsored by AIB. All companies now need to learn the green public procurement rules to bid and win new contracts with the public sector. Virtual,  Wed 4th Feb 2026 | 9am - 12.30pm. Pentland Centre for Sustainability in Business - Lancaster University, Starting Your Journey with Tools and Frameworks Second in the series, this webinar explores tools and frameworks that support decision-making for nature and biodiversity, including the Natural Capital Protocol and TNFD. Learn how these approaches help businesses identify relevant priorities and communicate outcomes effectively. Virtual, Thursday 12 February 2026, 8:00am – 9: 00am | 4.00pm – 5.00pm ICAEW, Putting nature on the balance sheet — Troubleshooting session Troubleshooting session to tackle common challenges on how to embed nature into the activities and processes of the finance function. Virtual, Wednesday, 18 February, 2026, 4 - 5pm CET Pentland Centre for Sustainability in Business - Lancaster University, What Does ‘Good’ Look Like in Corporate Reporting? The final session in the Pentland Centre’s free webinar series for SMEs explores what effective reporting on nature and biodiversity looks like. Drawing on global examples, this webinar highlights best practices and practical approaches for integrating nature and biodiversity into corporate reporting. Virtual, Thursday 12 March 2026, 8:00am – 9:00am | 4.00pm – 5.00pm Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

The Solicitors Regulation Authority who regulate solicitors and law firms in England and Wales is consulting on proposals to strengthen the accountants' reports regime. The proposals aim to improve transparency and provide better assurance of compliance by requiring the submission of all qualified and unqualified accountants' reports, firm declarations, and direct report submission to the SRA by reporting accountants.     They welcome feedback from members of the accounting profession to help shape the final requirements. The consultation paper is available on the SRA website SRA | Further consultation on client money in legal services: Protecting the client money that solicitors hold | Solicitors Regulation Authority. The consultation will close at 12.00 on Friday 20 February 2026.