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

Taxation of payments under Magdalen scheme – guidance

The tax exemption for payments made to women under the Magdalen scheme from 1 August 2013 was extended to women who were resident in one of the 14 adjoining institutions of the Magdalen Laundries in Finance Act 2018.

The Act also provided an exemption from tax for any income and/or gains realised from the investment of these compensation payments. Revenue has updated its guidance to reflect these amendments.