News week beginning 12th July, 2010

12 July  2010 – Revenue propose to extend mandatory e-filing & payment

At present, certain persons are obliged to file their tax returns and pay their tax online. These include Government bodies, local authorities and companies who are dealt with by the Large Cases Section of the Revenue Commissioners etc.

The Revenue Commissioners are now proposing to significantly extend the mandatory online filing and payment provisions with a view to all self-assessment taxpayers having to eventually file and pay on-line. They propose that this will be rolled out in a number of phases up to 2010:

From 1 Jan 2011 the following will be obliged to e-file;

-         all companies

-         all partnerships

-         all trusts

-         individuals who register for VAT on or after 1 Jan 2011

-         individuals subject to the high earner’s restriction

-         individual employers with more than 5 employees

From 1 Jan 2012:

-         all other individuals registered for VAT

-         individuals benefiting from or acquiring foreign life policies, offshore funds or other offshore               products

-         individuals claiming certain listed reliefs and allowances

From 1 Jan 2013

-         all individuals whose annual turnover or gross receipts exceeds €75,000 if selling goods, or               €37,500 if providing services or receiving rental income

-         persons filing CAT returns (who are not already obliged to e-file)

15.07.2010. 15:01