Revenue seize herbal cannabis worth €1.1 million in Limerick

Revenue seize herbal cannabis worth €1.1 million in Limerick Yesterday (01/02/2024), as part of an intelligence-led operation, Revenue officers seized approximately 55kgs of herbal cannabis with an estimated value of €1.1 million in the Limerick area. The seizure was made as a result of a joint operation involving Revenue’s Customs Service, the Garda National Drugs […]

Revenue eBrief No. 029/24 – Capital Gains Tax (CGT) Farming Restructuring Relief

Revenue eBrief No. 029/24 30 January 2024 Capital Gains Tax (CGT) Farm Restructuring Relief Tax and Duty Manual Part 19-07-03b has been updated to reflect the amendment in section 3 of the Finance Act 2023 extending the relevant period in which the initial restructuring transaction must be completed from 30 June 2023 to 31 December 2025.

Revenue eBrief No. 030/24 – Leasing of Machinery or Plant – General Principles of Taxation

Revenue eBrief No. 030/24 30 January 2024 Tax and Duty Manual 04-06-04 – Leasing of Machinery or Plant – General Principles of Taxation Tax and Duty Manual Part 04-06-04 – Leasing of Machinery or Plant – General Principles of Taxation has been updated. This is to reflect the general legislative framework applicable when calculating taxable profits and gains related […]

Revenue eBrief No. 031/24 – Enhanced Reporting Requirements – Revenue Online Events

Revenue eBrief No. 031/24 30 January 2024 Enhanced Reporting Requirements – Revenue Online Events Revenue is holding further online events in February through Eventbrite to give an overview of Enhanced Reporting Requirements (‘ERR’) for expenses/benefits paid without the deduction of tax to employees or directors. Reporting the details of these expenses and benefits applies from 1 January […]

Revenue eBrief No. 028/24 – Farming Taxation Guidance updated

Revenue eBrief No. 028/24 26 January 2024 Farming Taxation Guidance updated The following Revenue Tax and Duty Manuals in relation to the Taxes Consolidation Act 1997 (“TCA 1997”) have been updated to reflect certain amendments to the TCA 1997 by Finance (No.2) Act 2023. Tax and Duty Manual Part 23-02-01 – Stock relief – young trained farmers […]

Revenue eBrief No. 027/24 – Guide to Excise Licences

Revenue eBrief No. 027/24 25 January 2024 Consolidation of two of the manufacturer’s excise licences into one licence The Guide to Excise Licences has been amended to reflect the consolidation of the Manufacturer’s Licence – Compounder of Spirits and the Manufacturer’s Licence – Rectifier of Spirits into one licence, named: Manufacturer’s Licence – Compounder & Rectifier […]

Revenue seize contraband worth over €64,000 in Clare and Cork

Revenue seize contraband worth over €64,000 in Clare and Cork Yesterday (23/01/2024), as a result of risk profiling, Revenue officers based at Shannon Airport seized 1 kg of herbal cannabis. The illicit drugs, with an estimated value of €20,000, were discovered in parcels originating from the USA and were destined for an address in Co. Cork.  […]