How is cryptocurrency taxed in Ireland?
With the rise in ownership of cryptocurrency, crypto-assets, and Non-Fungible Tokens(‘NFTs’), the tax treatment of these transactions is becoming an area of interest to both Revenue and to the asset holders
Tax newsletter February 2022
This series of articles will provide you with an update on tax developments that impact organisations in Ireland and those that do business with Ireland.
This month we cover some key tax points on short term workers in Ireland, interest-free loans from parents, debt warehouse from Covid 19, personal tax planning tips, update on Brexit matters, employee share plan filings, proposed EU directive on shell companies and the taxation of cryptocurrency in Ireland.
I trust you will find something of interest from the various matters covered and if you have a query please get in touch.
Gift tax legislation changes postponed
With speculation increasing in relation to rising interest rates, it is no wonder that the Irish Government changed its path on gift tax legislation as announced in October’s Budget
Tax planning tips
Now is a good time to consider getting your tax affairs in order. Below we have provided a number of tax planning tips to bear in mind for the year ahead.
Updated guidance on short term Irish assignees
On 20 December 2021, Revenue updated its guidance material in relation to the payroll tax withholding obligations in relation to foreign employments exercised in Ireland.
Proposed EU directive to “unshell” shell entities
On 22 December 2021, the European Commission published a proposal for a directive to prevent the misuse of shell entities for tax purposes, described as “unshell directive” or also referred to as ATAD III.
Debt warehousing scheme
The debt warehousing scheme (“the scheme”) was first introduced in May 2020 in response to the significant impact the Covid 19 pandemic had on the cash flow demands of businesses. The scheme moved into its second stage on 1 January 2022.
PAYE Settlement Agreement for 2024
It is getting close to that time of year when employers need to consider whether they are required to make an application to Revenue in relation to a PAYE Settlement Agreement (PSA) for 2024.
What can we expect from Budget 2025
With only hours to go before Budget 2025 is announced, it brings with it important changes that will impact the business landscape in Ireland. Finance Minister Jack Chambers is set to present his first budget, while Paschal Donohoe continues to refine public spending. With €6.9 billion allocated for new spending, including critical investments in key sectors, there is much to consider for business...
Irish Tax Monitor: Budget 2025 insights Part two
In a special Budget 2025 edition of the Irish Tax Monitor, our tax team were asked to give some key pre-Budget observations. Part two addresses Irish SME support, FDI and other Budget 2025 observations.
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Frank Greene Partner, Tax - Dublin
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