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

Employment income now taxed on receipts basis

From 1 January 2018, the statutory basis of assessment as outlined in Section 112 of the Taxes Consolidation Act (TCA) 1997 for most employment income is on a receipts basis and not an earned basis. Employees will be taxed on the actual amount of income received rather than earned. This aligns the legislation with the practical operation of the PAYE system. Revenue have updated its Tax and Duty Manual at Part 5 to reflect this change.