Form 46G is a return identifying business payments to third parties for services provided. This return should be filed annually. The deadline for filing is nine months after the financial year-end. Details of certain payments made should be included in this return, namely payments over €6,000 for services provided to the business. This would include, for example, payment for transport, legal and advertising fees. Failure to file a Form 46G return on time could result in a penalty of €3,000 applied by Revenue. Non-compliance may also result in refunds being withheld.
In light of increased Revenue attention on this area, we suggest that businesses review their Form 46G filing position to ensure that compliance requirements are met.
Should you require assistance in bringing compliance up to date, have any questions in relation to the above, or if you would like to discuss this topic further, please contact a member of the Forvis Mazars corporate tax team below:
| Staff Member | Position | Position | Telephone |
|---|---|---|---|
| Cormac Kelleher | Tax Partner | ckelleher@mazars.ie | 01 449 4456 |
| Mark Woodhouse | Senior Tax Manager | mwoodhouse@mazars.ie | 01 449 4454 |
Revenue will rigorously apply the conditions to be met to avail of SARP and will deny claims. Are you aware of the conditions? Many employees and employers fall foul of the rules and a subset of rules. Substantial tax savings are lost.
Following an initial announcement in 2022, the government has now released its feedback statement on this proposed change in taxation policy concerning qualifying dividends received by Irish companies from overseas.
In line with the growing level of Revenue interventions post-COVID, we have noticed an increase in the quantum of Level 1 Compliance Interventions for non-filing of Form 46G returns.
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