Factsheets

The Irish Revenue (“Revenue”) published updates to their tax and duty manual (“TDM”) containing guidelines for correlative adjustment (“CA”) claims under Ireland’s double tax treaty network. Read summary of the Revenue guidelines.

In May 2022 the European Commission issued a public consultation to gather evidence for its review of the second EU Payment Services Directive (2015/2366), and to inform its continuing work on open finance. The consultation forms part of the Digital Finance Strategy and the Retail Payments Strategy which aims to conduct a comprehensive review of the application and impact of PSD2 to assess whether legislation remains fit for purpose.

The Irish Government has introduced the Temporary Business Energy Support Scheme (“TBESS”) to provide support to businesses with their energy costs. This scheme, will be administered by the Irish Revenue, and intends to alleviate the pressures faced by businesses that are experiencing unprecedented increases in their electricity and gas costs.

This article is a continuation of a series from Grant Thornton Financial Services Advisory that focuses on key aspects of the Individual Accountability Framework (“IAF”). In this article, we discuss the recently released Regulatory Impact Analysis (“RIA”) conducted by the Department of Finance (the “Department”) on the IAF.

Finance Bill 2022 (the Bill) published on 20 October includes the legislative provisions for the tax measures announced as part of Budget 2023 as well as introducing new measures and amendments to the Irish tax code. In this insight we outline the key measures which relate to the Financial Services industry.

Final guidelines on common procedures and methodologies for the supervisory review and evaluation process for investment firms, along with final draft Regulatory Technical Standards on Pillar 2 add-ons for investment firms are published.

The Central Bank of Ireland has announced that the countercyclical capital buffer (CCyB) rate on Irish exposures is to be maintained at 0.5 per cent.

Finance Bill 2022 (“the Bill”) was published on 20 October and includes the legislative provisions implementing the tax measures announced as part of Budget 2023, as well as introducing new measures and amendments to the Irish tax code. In this article, we outline the key changes which may impact international groups and companies operating in Ireland.

The introduction of the Consumer Protection Act highlights the Central Bank’s continued focus on consumer protection, with the specific purpose of closing the consumer protection gap in respect of consumer-hire agreements, hire-purchase agreements, including personal contracts plans (PCPs), and other forms of indirect credit such as Buy Now, Pay Later.

Albeit the announcements made on Budget Day were relatively subtle on the indirect tax front, the Finance Bill (the Bill) introduces a variety of VAT changes of significance to the financial services industry. In this article, we focus on the most notable changes proposed.

Finance Bill 2022 (the Bill) contains the legislative provisions to implement many of the Budget Day announcements as well as a number of other measures not already announced. In this article, we outline the key measures, which relate to the Irish real estate sector and how they will likely impact taxpayers operating within the sector.

Finance Bill 2022 (the Bill) contains the legislative provisions to implement many of the Budget 2023 announcements as well as a number of other measures not already announced. In this article, we outline the key measures, which relate to employees and employers.

Michael Neary, Corporate Finance Partner, Grant Thornton, assesses the economic outlook for Ireland and the Motor Industry in the year ahead, identifying opportunities and challenges amid the fog of uncertainty.

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See our latest Quarterly indirect tax update - April 2020

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