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

Central Register of Beneficial Ownership of Trusts

Revenue published a Frequently Asked Questions (FAQ) document on the Central Register of Beneficial Ownership of Trusts (CRBOT). The Register is required to be maintained under EU anti-money laundering legislation. Its purpose is to improve transparency on who ultimately owns and controls Irish trusts. The deadline for updating the Register is 23 October 2021.

Relevant trusts whose trustees are resident in the State, or which are otherwise administered in the State, are obliged to submit information to the Register.

For trusts that were established before 23 April 2021, the deadline for updating the Trust Register is 23 October 2021. The filing portal is available from 26 July 2021.

Trusts created after 23 April 2021 must file within 6 months of their creation.

From 26 July, trustees (or their agents, advisors or employees) can register for the CRBOT, through a ‘Trust Register’ portal on ROS. For individual filers who do not have a business tax registration number, the ‘Trust Register’ is available on MyAccount. Agents or advisors must submit a Trust Register TAIN Link notification on ROS if they are acting in a representative capacity. Agents or advisors not already registered for ROS must first obtain a Trust Register TAIN number before they can register for ROS.

Further information on the obligation to submit information to the Register and the information that must be submitted can be found in the CRBOT FAQs document on Revenue’s website.