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

Updates to Tax and Duty Manuals

Revenue have made the following updates to Tax and Duty Manuals in the last month:

  • Revenue updated their guidance to reflect that up to 120 percent of a financial service company’s regulatory capital requirements can be invested and the deposit interest assessed as Case I income.
  • Guidance on offsetting Case V losses and excess capital allowances between spouses or civil partners has been moved into Tax and Duty Manual 04-08-08.
  • The contents of Tax Briefing No. 29 relating to member’s Clubs and Trade of Professional Associations carrying on mutual business or not carrying on a business has been moved to Tax and Duty Manual 36-00-05.
  • The Irish Real Estate Fund (IREF) guidance notes (Tax and Duty Manual 27-01B-02) are updated to include reference to the new regulations that require IREFs to file annual financial statements electronically with Revenue.
  • The Tax and Duty Manual 29-03-01 on Knowledge Development Box (KDB) has been updated to take account of the passing of the KDB (Certification of Inventions) Act 2017. The notes now also explain the impact on KDB claims of incorporating an Irish branch into an Irish subsidiary.
  • Part 7 of Revenue’s original Stamp Duty manual has been updated by removing section 81AA TCA 1997 (transfers of land to young trained farmers). This section is now published in the new ‘replacement’ Stamp Duty manual. The replacement manual will gradually supersede the existing Stamp Duty manual as material is reviewed and updated and as new material is available for publication.
  • The guidance notes on pensions has been amended, Revenue have set out the details of these changes in eBrief No. 190/18.
  • Revenue published a new manual outlining how to apply for a tax clearance certificate when required under the Standards in Public Office Act.
  • The guidance on the scholarship income exemption has been enhanced, confirming Revenue’s position in relation to a number of items including the conditions for the exemption.