Latest roundtable Q&A
As featured in the August edition of Finance Dublin Magazine
Where stands Brexit from an Irish perspective as we head into the second half of 2017. If we end up with the famous "...no deal rather than a bad deal..." how will this effect Ireland?
On 28 June, the Irish Tax Institute published a 140 page seminal paper on the challenges facing Irish indigenous exporters. The issues identified by the ITI included: CGT; skills shortage for Irish SMEs and high personal taxes; The lack of a workable share options regime; The inability of Irish SMEs to access the international assignee programme. Do you think that the ITI paper will influence Government policy and what improvements are required to provide a more equitable deal for SMEs?
In his October 2016 Budget statement, the then Minister for Finance, Michael Noonan, announced the launch of a consultation process regarding the modernisation of the PAYE system. Revenue has acknowledged that this will be the most fundamental change to the PAYE system since its introduction. The launch date will be 1 January 2019. What should Irish companies be doing now to prepare for this significant change? How will it work in practice?
Just before the Christmas holidays in 2016 Revenue released a new interpretation of the rules governing business travellers to Ireland, resulting in PAYE withholding tax implications and reporting obligations for companies, if that employee spends more than 30 days in Ireland in a calendar year. Prior to this, such a person had to spend more than 183 days in Ireland before any such obligation arose. This new interpretation appears to have gone ‘under the radar’ and has not generated much, if any publicity. The approach is draconian in comparison to our European neighbours, not least the UK. Where is this issue going, in your opinion, and what should companies be doing about it? Should Irish industry be lobbying vociferously against this change, given its potential significant impact on Irish competitiveness?