TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

COVID-19 measures on Revenue’s website

We would like to remind readers that Revenue has several very helpful measures in place to support taxpayers impacted by COVID-19 on a section of its website titled “Filing returns, paying taxes, debt management and debt warehousing”. Revenue note that the application of a surcharge for late CT1 corporation tax returns due by March 23 onwards is suspended until further notice.

Revenue’s website also states the suspension of surcharges for late filings of iXBRL financial statements due by March 23 onwards but notes on its website that every effort should be made to file the iXBRL accounts as soon as possible. Revenue eBrief No. 083/20 sets out temporary measures in relation to the close company surcharge whereby Revenue will, on application, extend the 18-month period for distributions by a further nine months. These measures should be considered in conjunction with compliance requirements under the debt warehousing scheme and reduced interest for non-COVID-19 tax debt.