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 →

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 →

  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 →

  Disruption of businesses and smooth functioning of the community is probably the single largest impact of the COVID-19 pandemic, after the lives lost. The Irish government, however, was quick to implement measures to mitigate large losses for the country’s … Continue reading →

  COVID-19 has proven to be disruptive to supply chains worldwide and has affected the financial markets too.  Now that it has been declared a pandemic by the WHO, we at Data Tracks have put together a couple of key … Continue reading →

    Ireland’s Budget 2019, delivered in October 2018, saw the introduction of a new exit tax regime. The introduction of the exit tax regime was not considered a surprise because it is part of Article 5 of the Anti-Tax Avoidance … Continue reading →

    Are you an Irish tax payer who is yet to get your accounts in order and file tax returns? You better get started now if you would like to avoid penalties that can amount to a “small fortune”! … Continue reading →

  Ireland is one country that has quite the confusing taxation policy, to begin with. Add the hurdle of compliance to the mix and you’ve got yourself a problem. In a previous blog of ours Ireland Gets Its Own Taxonomy … Continue reading →