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Relationship Breakdown: Tax Implications (Irish Tax Review 2020 Issue 4)

Irish Tax Review Julie Burke Amanda-Jayne Comyn
2020-12-14
The Family Law Act 2019 also provided for the recognition of all foreign divorces granted in the European Union (to include Britain and Gibraltar after Brexit). Previously, foreign divorces were valid in Ireland only if they were recognised here under the Domicile and Recognition of Foreign Divorces Act 1986. An application to court can be made to have a foreign marriage or divorce recognised in Ireland.
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“Brexit”: Potential Direct Tax Effects in Ireland (Irish Tax Review 2017 Issue 3)

Irish Tax Review Julie Burke Aidan Meagher Claire Fitzgerald
2017-10-05
“Brexit”: Potential Direct Tax Effects in Ireland … Much of Ireland’s direct tax landscape is likely to remain unaffected by Brexit negotiations. Tax laws in Ireland have been developed to avoid fiscal obstacles to trade (e.g. withholding taxes) where the overseas party is a member of the European Union (EU) or, like the UK, has a double taxation agreement (DTA) with Ireland. For example,... when the UK officially leaves the EU in 2019, dividends paid to a company based in the UK will continue not to attract withholding taxes as a result of Ireland’s DTA with the UK. Although Brexit is not a tax event, some of its most obvious and quantifiable effects are likely to be tax ones. … In this article we will examine the potential impact of Brexit on the direct tax system in Ireland, with a particular focus on businesses that have a close relationship with the UK, and outline the key considerations as we look ahead and seek to establish a new alliance with the UK outside of the EU. … Direct taxes are an area of solely national competency, which must be exercised only in accordance with EU treaties. One of the main difficulties in determining the implications of the UK’s leaving the EU hinges on the nature of the Brexit negotiations (i.e. “soft” versus “hard” Brexit). These negotiations will take at least two years, so there is no immediate impact, as EU laws and treaty obligations continue to have effect during this “divorce” process. However, as most indirect taxes (e.g. VAT and customs duty) are EU based, it is...
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Digital Gaming Tax Credits/Incentives: It’s All in the Game (Irish Tax Review 2021 Issue 3)

Irish Tax Review Julie Burke Ken Hardy Damien Flanagan Stephen Brennan
2021-09-22
The video game development company (VGDC) can claim a tax credit equal to 25% of the core expenditure that is “used or consumed” in the UK (and pre-Brexit, the EEA), to a cap of 80% of total core expenditure. … To receive the VGTC, the video game must pass the cultural test and be considered a British video game. Additionally, at least 25% of the core expenditure must be incurred in the UK (or, pre-Brexit, the EEA). Finally, the game must be intended to be supplied to the general public. Games created solely for advertising purposes or gambling real money are non-qualifying. …  Staffing expenditure included if the staff are qualifying (i.e. resident of the UK or pre-Brexit, an EEA state).
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Legislation & Policy Monitor (Irish Tax Review 2021 Issue 1)

Irish Tax Review Julie Burke Lorraine Sheegar
2021-04-19
...will arise on the migration of the shares. The Institute had sought for these amendments to be reflected in the Bill at Report Stage in a submission to the Department of Finance and Revenue. (See also article by Rachel Fox & Caitriona Moran, “Finance Act 2020: Post-Brexit Share Migration”, in this issue.) … Brexit: EU–UK Trade and Cooperation Agreement … Revenue has updated the following customs procedures manuals to incorporate changes arising from Brexit and the end of the transitional period on 31 December 2020:
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European Union: Update on Tax Reform Landscape (Irish Tax Review 2021 Issue 2)

Irish Tax Review Julie Burke Tiiu Albin Pereira Chloe O’Hara
2021-06-24
The budget allows for flexibility in reacting financially to unforeseen events via the EU Globalisation Adjustment Fund, the Solidarity and Emergency Aid Reserve and the Brexit Adjustment Reserve – the three special instruments. These are additional funding sources for major disasters, emergency situations or unforeseen Brexit consequences. There are also non-themed special instruments – the Single Margin Instrument and the Flexibility Instrument. These instruments will assist in managing a timely drawdown of commitment appropriations and allow for flexibility in applying the ceilings.
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Legislation & Policy Monitor (Irish Tax Review 2021 Issue 2)

Irish Tax Review Julie Burke Lorraine Sheegar
2021-06-24
No. 038 Film Withholding Tax – Brexit update … Revenue’s “Film Withholding Tax” manual has been updated to reflect that Film Withholding Tax (FWT) now applies to UK-resident artistes after the end of the Brexit transition period. FWT is a withholding tax on certain payments made by companies that qualify for the  … .... The manual was also updated to reflect Finance Act 2020 changes to section 3.4, “Electric vehicles including motorcycles”. In addition, a new section 5.6.3 titled “Removal to Great Britain or Northern Ireland” has been inserted to reflect changes after the end of the Brexit transition period. … Revenue has updated the “Customs Export Procedures” manual to provide further information in light of Brexit and to make minor amendments to the text where necessary. The significant changes include amending the list of special fiscal territories, the introduction of a new office of export for goods travelling to Great Britain (GB) via Northern Ireland, information on preferential origin for trade with the...
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Finance Act 2020: Encashment Tax, PSWT Modernisation and Share Reporting Requirements (Irish Tax Review 2021 Issue 1)

Irish Tax Review Julie Burke Anna Holohan
2021-04-19
The backdrop to Finance Act 2020 was considerable economic uncertainty as a result of both Brexit and the Covid-19 pandemic. The Finance Act 2020 provisions do not contain detailed provisions in respect of Brexit. However, measures to deal with some of the uncertainty created by Brexit have been provided for separately under “Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2020”. Therefore, a significant focus of Finance Act 2020 is on provisions to support those impacted by Covid-19. Such measures include a reduction in the VAT rate... … These amendments, though unexpected, provide greater clarity, in particular in the context of certain financial institutions that may be moving to Ireland as a result of Brexit and may now be within the remit of encashment tax.
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EU Mandatory Disclosure: Crunch Time for DAC 6 Filings (Irish Tax Review 2020 Issue 4)

Irish Tax Review Julie Burke David Fennell
2020-12-14
Although one might expect UK guidance to carry significant weight, given that it is the European jurisdiction with most practical experience of mandatory reporting, there is less post-Brexit enthusiasm for following UK guidance than hitherto. Nevertheless, intermediaries and relevant taxpayers could take cognisance of practical guidance provided by HMRC where it does not rely on UK-specific implementing legislation. … Thus, post-Brexit, a UK-resident adviser with no other connection to a Member State will not be an intermediary. Pre-Brexit, a UK adviser may be an intermediary, which has important filing implications for other advisers and relevant taxpayers. … ...entity. On foot of the advice received, the Irish parent gives direction to the UK subsidiary on the transaction’s implementation. The Irish law firm will be regarded as a category 2 intermediary (service provider), whereas the Irish parent company will be a category 1 intermediary. Post-Brexit, a different conclusion might be reached. … Where there is no intermediary (category 1 or 2) – and this applies where an intermediary has no EU nexus (particularly relevant post-Brexit) – the reporting obligation falls on a relevant taxpayer. This is also the case where legal professional privilege applies (unless waived). Legal professional privilege may have different meanings throughout the EU.
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Finance Act 2020: Key Changes to CAT, CGT and Stamp Duty (Irish Tax Review 2021 Issue 1)

Irish Tax Review Julie Burke David Rodgers
2021-04-19
It is unsurprising, therefore, that the relief is extended, particularly in the context of Brexit, which is likely to lead to disruption in the agri-food sector in the short to medium term.
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International Tax Update (Irish Tax Review 2021 Issue 1)

Irish Tax Review Julie Burke Louise Kelly Emma Arlow
2021-04-19
necessary adjustments to the Austrian VAT Act to reflect the consequences of Brexit after 31 December 2020; … UK DAC 6 changes: HMRC to reduce scope of mandatory reporting in post-Brexit world
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