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Ireland and E-commerce VAT Reforms The European Commission and Revenue have released new guidance for digital platforms, online retailers and online marketplaces on the E-commerce VAT rules that are set to be introduced from July 1st, 2021. Under the reforms, online marketplaces and platforms that facilitate supplies of goods to […]
Post-Brexit “Continuity Trade Deal” between Canada and the UK In short, the Continuity Trade Deal will allow Canada and the UK to trade, post-Brexit, under the same terms provided by the CETA on a bilateral basis. This interim agreement was announced back on November 21st 2020 and came into effect […]
Tightening of the Capital Allowance rules for Intangible Assets The Finance Bill 2020’s least talked about or publicised aspect and those could argue the most important change. The tightening of the capital allowance rules for intangible assets. Capital Allowance Simply put, capital allowance enables companies to reduce their corporate tax […]
VAT-Free Shopping Withdrawn by the UK for International Travellers In September 2020 it was confirmed that the VAT Retail Export Scheme is to be withdrawn from the 1st of January 2021. VAT-Free Shopping Withdrawn by the UK for International Travellers is in line with when the Brexit transition period will […]
Family Offices Are On The Up In the last two decades or so, the nature and role of family offices have seen a dynamic shift. Research into the area suggests that there were over 7,000 single family offices across the globe in 2019 which was 38% from 2017. Family offices […]
Accelerated Loss Relief For Companies A temporary scheme (Accelerated Loss Relief for Companies) allowing companies to claim back corporate tax paid last year against losses anticipated this year has been introduced in Ireland. This scheme, according to the Government, is intended to increase cash flow for companies that are now […]
An Overview of Ireland’s July Stimulus Package On the 23rd of July 2020, the Irish Government announced a host of economic support measures for businesses and the self-employed. Our expert team in CityTrust has provided an overview of Ireland’s July Stimulus Package. The main announcements to come out of the […]
Apple Win EU Tax Rulings Appeal Finally, after 4 years in the making with EU authorities, the Irish Government and Apple win EU tax rulings appeal. This appeal was against a decision by a previous European Commission over how Apple is taxed in Ireland. On the 15th of July 2020, […]
Payment of Research and Development Tax Credit to be Expedited To support Irish businesses’ and their cashflow. The Irish Revenue has announced that Payment of Research and Development Tax Credit is to be Expedited. This will bring forward the payment of instalments of excess research & development tax credit where […]
Covid-19 Announcement The continued spread of the Covid-19 virus is having a profound impact on society. We have continued to follow the announcements and updates from the Government and the Department of Health to limit the spread of the virus. Our Board of Directors is taking this very seriously and […]
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