BUDGET NIGHT RESOLUTIONS
Chartered Accountants Ireland have issued important clarification of the status of Budget Night resolutions in the event of a General Election prior to the passing of the Finance Bill:
Tag: taxation
CORPORATION TAX & THE BUDGET
Amid the acres of conjecture/analyses of our economic travails across every Sunday broadsheet, the question of our 12.5% corporate tax rate is close to centre stage.
WELCOME TO THE HOUSE OF FUN!
So the IMF have entered the House of Fun…what are the implications for Irish businesses and the Irish taxpayer? We were already facing into a scathing budget on 7 December, but will this now be even more draconian?
ERRORS IN ROS FILING
Revenue has admitted a glitch in its online filing systems may mean some top earners could get away with understating their taxes this year, according to The Sunday Business Post.
REVENUE GO ONLINE
It appears the Revenue has discovered the Internet in a big way.
A few weeks ago the taxmen confirmed they were using Facebook to discover anomalies in claims for single-parent allowances and now, at the other end of the wealth scale, it is using Google Earth and StreetView to uncover undeclared wealth.
PRSI INCENTIVE SCHEME
The aim of the Employees Job (PRSI) Incentive Scheme is to support job creation by exempting employers from liability to pay their share of PRSI contributions. The current rates of employer’s PRSI are 8.5% or 10.75% of the employee’s gross pay.
INCOME TAX DOWNTURN
Accountants are reporting that fewer income tax returns are being filed this year, with many of them noticing a rise in the number of people finding it hard to pay the Revenue straight away, according to The Sunday Business Post.
CIF TAX COMPLIANCE
The Construction Industry Federation (CIF) of Ireland is trying to tackle the rise of the black economy in the building trade by calling for tax-compliant certification for all state building grants.
MORE BUDGET PROJECTIONS
Middle-income earners are in for a tough time following the Budget. A number of measures designed to reduce the Government’s budget deficit will hit those earning more than €35,000 a year the hardest.
REVENUE EMAIL SCAM
The Revenue Commissioners have today (20/10/2010) become aware of another fraudulent email purporting to come from Revenue seeking personal information from taxpayers in connection with a tax refund.
THE BUDGET
This week’s speculation on what we can expect to see in the December Budget focuses on cuts to all welfare benefits, the slashing of tax credits and a new property tax. The Sundays are awash with the details of proposals being discussed and numbers being crunched.
THE MOTHER OF ALL BUDGETS
Not long to go now but there is still time to offset the taxing effects likely to be coming down the tracks on that Mother Of All Budgets in December, according to The Sunday Times.
IS IRELAND A ‘LOW TAX’ ECONOMY?
Despite the popular misconception constantly peddled that Ireland is a “low-tax economy”, it appears we are nowhere near the bottom of the OECD list when it comes to our tax regime, according to a survey by accountancy firm KPMG, reported in The Sunday Business Post.