GES News Flash
Real Time Foreign Tax Credit and Share Scheme Reporting
Real Time Foreign Tax Credit
Revenue have recently issued an eBrief (119/15), which sets out the criteria and procedures in order to obtain real-time foreign tax relief through the Pay As You Earn (PAYE) system.
This will alleviate the cash-flow burden experienced where an employee who performs some of the duties of the employment abroad also triggers a simultaneous foreign tax withholding in that foreign jurisdiction.
Share Scheme Reporting
There are several year-end reporting obligations for employers who operate share schemes for their employees. The obligation exists for share option schemes, Save As you Earn schemes and Approved Profit Sharing schemes.
Separate filings are required for each scheme and the deadline for each of these is 31st March each year.