Questions raised over new Irish tax disclosure regime
Irish advisers worried that tax scheme disclosures will place extra burden on the profession
A TAX AVOIDANCE disclosure regime is set to be introduced in Ireland – a move greeted with concern buy the tax profession
The mandatory regime will come into force next year and require companies to disclose tax schemes they have implemented, reported the Irish Independent.
Minutes of a meeting held between advisers and the taxman showed that the scope of the regime and its impact on practitioners’ provision of routine tax advice – plus legal privilege issues – were issues raised.
The UK has operated a tax scheme disclosure regime since 2004.