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

Revenue says construction, agri, forestry and fishing businesses must take immediate Brexit action

Revenue are advising businesses who are not fully prepared for Brexit to take immediate action to avoid disruption to their international trade. Many businesses have followed Revenue’s previous advice, with 3,700 businesses registering for an Economic Operators Registration Identification (EORI) number since September. Ninety seven percent of Ireland’s export trade is with the UK, but according to Revenue, many businesses are still unprepared for 1 January, particularly those in the construction, agriculture, forestry, and fishing industries.

According to Revenue, the first step in being prepared is to register for customs by getting an EORI number. Every business should also:

  • have the facility to make customs declarations or have plans in place for a customs agent to do so;
  • look closely at and talk to the other key players in their supply chain;
  • know the origin and Commodity Code of the goods or products it is importing;
  • talk to the person who transports the goods or products to make sure they have the new information they need; and
  • consider alternative routes to EU markets.