The regulatory arm of any business has always been the underdog. The integral role it plays in the smooth running of an organization, rarely leaps out of the book. However, it has enormous potential to help businesses build a culture … Continue reading →

Accuracy and timeliness in data acquisition are increasingly treated as essential factors in governance and taxation. In the UK, especially, the need for digital transformation has extended to reporting and has translated to the mandate of using standards such as … Continue reading →

  The Tax and Duty Manual Part 38-02-08 has been revised recently through a brief on 9th July 2020 to add more details on the obligation of non-resident firms to submit specific points required. A copy of the related law, … Continue reading →

  The Companies (Accounting) Act 2017 (CA 2017) introduced in the Republic of Ireland made a series of amendments to the accounting and filing requirements of Companies Act 2014 (CA 2014). This move is to give effect to the provisions … Continue reading →

  Revenue has been trying its best to implement as many measures as possible in order to help the people of Ireland tide over the Covid-19 crisis smoothly. With important measures being put in place to help the economy, a … Continue reading →

In a bid to reduce the burden on charities, the Charities VAT Compensation Scheme has been introduced to partly reimburse the VAT paid by charities in their daily operations. Usually, the last date for charities to apply for this compensation … Continue reading →

  Companies or their authorised dealers are permitted to file Financial statements in iXBRL using screens provided by Revenue Online Services (ROS). These are available throughout and can be used while submitting the CT1 through My Services or Agent Services. … Continue reading →

  Inactive companies Under existing laws, firms incorporated in Ireland are responsible to draft and finalise their accounts as per the Companies Act 2014(earlier 1963).  All these firms are supposed to present their financial statements to Revenue in iXBRL. Although … Continue reading →

  The Section 884 of the taxes Consolidation Act,1997 has stretched the meaning of a Corporation Tax return to also cover financial statements. This, added to the prevailing electronic filing of tax returns provides a legal framework for the compulsory … Continue reading →

The current crisis that has taken over the globe has had significant economic impact on companies and their seamless functioning. Business owners face pronounced administrative and financial burdens during this time. Compliance and payment of taxes is one such activity … Continue reading →