Posts Tagged ‘taxation’

HALIFAX & THE REVENUE

Halifax is closing its current account business from June 18th 2010. All Revenue On-line Service customers with such accounts should ensure that their ROS Debit Instructions have been amended to reflect their new current account details prior to that date.

ROS Debit Instructions can be amended on line by selecting the Complete/Amend/Download an RDI link on the ROS “My Services” page.

In case of difficulty, contact ROS Payment Support Unit at rospayments@revenue.ie

LEAP YEAR

‘Leap Year’ the romantic comedy filmed last year in Ireland and panned by critics has become a smash hit for investors, according to The Sunday Business Post.

The investors are set to share almost €9m from Lef Productions, the company incorporated to raise finance for the movie under the Section 481 tax break.  Lef is now being wound up and its surplus of €8.87m will be distributed among the investors.

The movie was among 18 films and 46 TV series that received Section 481 breaks last year.

SUPREME COURT FOR RYAN FAMILY

The Revenue is taking a Supreme Court challenge over a scheme used by the wife of Shane Ryan – son of the late Tony Ryan – to minimise tax on the sale of shares, according to The Sunday Business Post.

Lorraine Kinsella sold €19m worth of Ryanair shares in 2003 but paid less than €40,000 in tax in Italy, where she was tax resident (albeit in a ‘tiny apartment’ as noted by Judge Peter Kelly in the High Court). Kinsella took a successful High Court action against the Revenue’s claim she should have been liable for Capital Gains Tax in Ireland.



CASH REGISTERS

The Revenue have recently issued an information leaflet on cash registers which applies to all VAT registered customers who deal in cash. The most significant change affecting cash register records is that each record must

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