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Bookkeepers Ireland News

News and Information for Bookkeepers on Bookkeeping and related topics such as tax, computers and payroll
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Published on Wed 15 of Feb, 2017
Revenue eBrief No. 16/17: Revenue Technical Service - Solicitor Access to the MyEnquiries online contact facility

The Revenue Service to Practitioners and Business Taxpayers including RTS Guidelines (831KB) has been updated. A new Appendix G has been included setting out how solicitors contacting the Revenue Technical Service on behalf of a client, where the solicitor is not the client's tax agent, can access the MyEnquiries online contact facility.
Published on Wed 15 of Feb, 2017
Revenue eBrief No. 15/17: Deduction for income earned in certain foreign states (Foreign Earnings Deduction)

Tax & Duty Manual Part 34-00-09 (132KB) in relation to Foreign Earnings Deduction (FED) has been updated to reflect changes made by section 11 of Finance Act 2016. Under these changes,

  • FED has been extended to include the years 2018, 2019 and 2020,
  • Columbia and Pakistan have been added to the list of qualifying states, and
  • the number of qualifying days has been reduced from 40 to 30.

Published on Wed 15 of Feb, 2017
Revenue eBrief No. 14/17: Taxation of Paternity Benefit

Tax & Duty Manual Part 05-05-31 (77KB) has been updated to reflect:

  • the introduction of paternity benefit under the Paternity Leave and Benefit Act 2016
  • the fact that paternity benefit is a taxable payment.

Paternity benefit is payable in the context of paternity leave from work in respect of births and adoptions that occur on or after 1 September 2016.
Published on Mon 13 of Feb, 2017
Revenue eBrief No. 13/17: PAYE - Exclusion Orders

Tax & Duty Manual Part 42-04-01 (175KB) on 'PAYE Exclusion Orders' has been updated at:

  • paragraph 6.2 to clarify the reason Revenue do not issue exclusion orders in respect of 'private sector occupational pensions' for residents of non-DTA countries,
  • paragraph 7.2 to confirm that the practice of issuing exclusion orders in respect of certain medical appointments has been discontinued, and
  • paragraph 8 to clarify Revenue's position on exclusion orders in relation to distributions or withdrawals from ARF's, AMRF's, vested PRSA's and taxable lump sums from retirement benefit schemes.

All examples in the Manual have also been updated.
Published on Thu 09 of Feb, 2017
Important Notice for PAYE Customers: Enhancement of Revenue Commissioners PAYE Services in myAccount

**This Notice is also available on the Revenue website in the News section **

Revenue is further enhancing our online services for PAYE customers to make it quicker, easier and more convenient for you to manage your tax.

You can now access the various PAYE services including PAYE Anytime, Form 12 and the 'Jobs and Pensions' service from the new PAYE Services card in myAccount.

PAYE Services allows you to quickly and easily claim tax credits, declare income, claim refunds, submit a tax return and tell us about a new job or private pension and you will have access to these services from all smart devices like mobile phone, tablet etc.

To claim credits, declare income or divide your tax credits and rate bands for 2017, you should go to the 'Manage your tax 2017' link on the new PAYE Services card.

If you want to claim credits or refunds for previous years, click on 'Review your tax 2013-2016 (Form 12)'. If you are unable to access the Form 12 you should continue to use PAYE Anytime.

During 2017, we will be replacing our PAYE Anytime service and we will update you again when that happens.


RevApp

Revenue recently launched a new mobile application called RevApp and it is available to download free from the Apple, Google or Windows Store. This app will help you manage your tax affairs on the go. RevApp provides you with quick and easy mobile access to myAccount, MyEnquiries, Calculators and Tools and Receipts Tracker.

Receipts Tracker is a new service that allows you to record and manage receipts for your expenses including health expenses. It also provides the option for you to upload your receipts information and images to Revenue storage. If the image of the receipt is clear, readable and complete, you do not have to keep the original receipt.

Further information on myAccount, RevApp and the Receipts Tracker can be found on the revenue website .



Kathleen Redmond
Planning Division
Revenue Commissioners
Published on Thu 02 of Feb, 2017
Revenue eBrief No. 12/17: Revenue Arrangements for Implementing EU and OECD Exchange of Information Requirements In Respect of Tax Rulings

You may wish to note the following updates to the Tax & Duty Manual Part 35-00-01 (362KB).

  • Section 1 of the tax and duty manual has been updated to reflect the fact that the EU Directive has been transposed into Irish law.
  • Paragraph 6 of section 2.1, which provided details in relation to the optional exception that applied to the look-back element of the EU Directive, has been deleted as it is not relevant.
  • Section 3.1, paragraph 2, bullet point 3 has been updated to reflect the fact that unilateral downward adjustments made by taxpayers under informal capital contribution or excess profit regimes should not arise under Irish tax law.
  • Sections 3.3 has been updated to reflect the fact that rulings were due to be exchanged under the look-back element of the OECD framework by 31 December 2016 and section 4.3 has been updated to reflect the fact that Revenue has exchanged opinions under the look-back element of the OECD framework.
  • The references to Revenue guidelines on the provision of opinions in sections 4.1 and 4.5 have been updated as appropriate.
  • Contact details in section 4.8 have been updated.
  • The list of countries in Annex 3 has been updated to reflect the fact that additional countries have joined the Inclusive Framework under the Base Erosion and Profit Shifting Project.

Published on Wed 01 of Feb, 2017
Revenue eBrief No. 11/17 : Average Market Mid-Closing Exchange Rates v Euro

The following are the Average Market Mid-Closing Exchange Rates v Euro for the years 2013 to 2016 inclusive, as supplied by the Central Bank:

Average Market Mid-Closing Exchange Rates v. €
2013 2014 2015 2016
Australian dollar AUD 1.3777 1.4719 1.4777 1.4883
Brazilian real BRL 2.8687 3.1211 3.7004 3.8561
British pound GBP 0.84926 0.80612 0.72585 0.81948
Canadian dollar CAD 1.3684 1.4661 1.4186 1.4659
Chinese yuan CNY 8.1646 8.1857 6.9733 7.3522
Danish krone DKK 7.4579 7.4548 7.4587 7.4452
Indian rupee INR 77.9300 81.0406 71.1956 74.3717
Japanese yen JPY 129.66 140.31 134.31 120.20
Norwegian krone NOK 7.8067 8.3544 8.9496 9.2906
Russian ruble RUB 42.3370 50.9518 68.0720 74.1446
Swedish krona SEK 8.6515 9.0985 9.3535 9.4689
Swiss franc CHF 1.2311 1.2146 1.0679 1.0902
US dollar USD 1.3281 1.3285 1.1095 1.1069


Lloyds Conversion Rate

For accounts closed in the calendar year 2016 the conversion rate of sterling to euro should be calculated by reference to the sterling mid-closing rate on the last market day of that calendar year, as supplied by the Central Bank, as follows:

2016 Stg £1 = €1.16798
Published on Tue 31 of Jan, 2017
Audio Podcast - Summary of January 2017 Revenue Commissioners eBriefs

Link to Audio:
EBriefs-Jan-2017.mp3

Links to full text details on Bookkeepers Ireland website:
Revenue eBrief No. 01/17: Finance Act 2016 - VAT Notes for Guidance
Revenue eBrief No. 02/17: Improved online services for PAYE customers
Revenue eBrief No. 05/17: Fisher Tax Credit
Revenue eBrief No. 07/17: Deduction for statutory registration fees paid to the Health and Social Care Professionals Council
Revenue eBrief No. 08/17: Revenue Opinions and Confirmations
Published on Thu 26 of Jan, 2017
Revenue eBrief No. 08/17: Revenue Opinions and Confirmations

It is Revenue policy that all opinions/confirmations issued by Revenue are subject to a maximum validity period of 5 years, or such shorter period as may have been specified by Revenue when providing the opinion/confirmation. A taxpayer or tax practitioner who wishes to continue to rely on an opinion issued before 1 January 2012 for any transaction, or the whole or part of any period, after 1 January 2017, must:

  • supply evidence of the opinion/confirmation, being a copy of a written communication which originated from Revenue, and
  • lodge a full application for the renewal or extension of the opinion/confirmation with the Revenue District dealing with the taxpayer’s affairs

by 30 June 2017.

Further information is available at Revenue Opinions/Confirmations .
Published on Fri 20 of Jan, 2017
Revenue eBrief No. 07/17: Deduction for statutory registration fees paid to the Health and Social Care Professionals Council

Tax and Duty Manual Part 05-02-17 (85KB) has been updated. The manual outlines the tax deduction that may be granted in respect of the statutory registration fees paid by certain health and social care professionals to the Health and Social Care Professionals Council (CORU). Three registration boards have been added to the list of registration boards established by the Council. These are in respect of medical scientists, physiotherapists and social care workers.
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