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TAX NEWS
LN 138 of 2022 has revised item 14 of part 1 and item 9 of part 4 of the fifth Schedule to the VAT Act, adding to the list of exempt with credit supplies and imports, certain supplies of goods and services and imports intended...
The paper version of the VAT return has been revised to reflect some reporting clarifications: The heading to the second section of the return, which previously read ‘REVERSE CHARGE’ now reads ‘DEDUCTIONS OF SELF-CHARGED VAT’ The text of box 9, which previously read ‘IC ACQUISITIONS...
Commission proposes debt-equity bias reduction allowance (DEBRA) to help businesses access financing
On 11 May 2022 the Commission proposed a tax incentive to help businesses access financing, a measure that will introduce an allowance granting to equity the same tax treatment as debt. Details on the debt-equity bias reduction allowance (DEBRA) can be viewed here.
The Ministry for Finance and Employment has released a Press Release in relation to the repayment of taxes that were eligible under the Tax Deferral Scheme launched in March 2020 (See MIT News 20 March 2020). It has been announced that beneficiaries under the scheme...
The OECD has issued a public consultation document on the Regulated Financial Services Exclusion under Amount A of Pillar One and has invited stakeholders to send in their feedback by 20 May 2022.
European Parliament resolution of 21 October 2021 on the Pandora Papers: implications for the efforts to combat money laundering, tax evasion and tax avoidance (2021/2922(RSP)) has been published in the Official Journal.
This week’s edition of the CFE Tax Top 5 looks at the following: CFE Opinion Statement on OECD Public Consultation on a Crypto-Asset Reporting Framework ECJ Decision on Disclosure of Information in Airbnb Case C-974/20 EU VAT Committee Publishes Meeting Papers & Updated Guidelines EU Commission to...
The General Arrangements for Excise Duty (Council Directive (EU) 2020/262) Regulations, 2022 were published by Legal Notice 128 of 2022. The Regulations transpose Articles 2, 3, 6, 12, 16, 17, Articles 19 to 22, Articles 25 to 29, Articles 33 to 46, andArticles 54 and...
The Office of the CfR has published an FAQ document on the Mandatory Automatic Exchange of Information in relation to Cross-Border Arrangements. Click here to download the FAQs.