Tom Maguire | Business Post

Tom Maguire

tommaguire

Contributor

Tom Maguire: Playing for KEEPs gives SMEs some added skin in the game

The Key Employee Engagement Programme has the potential to become a real selling point for talent, but the stringent terms and conditions behind it need to change

Tom Maguire: What a tangled web we weave when we take on EU tax law before simplifying our own

A new European directive aims to redress the imbalance in debt/equity investing, but here in Ireland, achieving a tax deduction for interest on debt financing is already galactically complex

Tom Maguire: Revenue’s input critical as global rule changes present challenges

While headway was made last year on complex EU tax issues, it is still an evolving area and guidance is essential if new measures are to be implemented

Tom Maguire: The cryptic tax rules that surround bitcoin and its ilk

There are no specific rules in connection with crypto-assets, and therefore any transactions in them need to be carefully analysed

Tom Maguire: How our tax regime could sweeten the pill for future R&D

A tax credit won’t be R&D’s driving force, but it can be a factor in determining where such R&D happens – so our tax rules need to be sufficiently attractive for it to be carried on here

Tom Maguire: Close company tax rules can make the ‘innocent suffer for the guilty’

The Revenue now has other measures to counter tax avoidance, and could ease off on its 18-month profit payout rule, which can punish owners for reinvesting in their business

Tom Maguire: Territorial gains to be won from tweaks to foreign income tax

The laws on taxing foreign income are complex and any moves to change and simplify the system will be welcomed by businesses, investors and the tax authorities

Updated audit code takes radical new approach to compliance interventions

New and improved code of practice represents most significant change to Revenue’s approach to compliance interventions in years, says Deloitte

EU tax directive will prise out true identity of ‘shell’ entities

Proposed initiative aims to prevent the misuse of such undertakings for tax purposes

Tom Maguire: A fair share for entrepreneurs and employees will profit us all

We need to tweak taxes to encourage entrepreneurs to locate here, and to allow our homegrown SMEs to thrive

Tom Maguire: A corporation tax proposal that will bring certainty to Irish business

The EC’s draft directive to put Pillar 2 into action should be effective, and a net positive for Ireland – and here’s why

Tax credit for game developers who must pass the ‘cultural’ test

Paschal Donohoe’s incentive for game developers is available on eligible expenditure of up to €25 million a game and is based on the film tax relief scheme. A cultural test will apply, and gambling games are not eligible for the incentive

Are tax deductions on borrowed time as new rules come into effect?

A new measure in the Finance Bill is intended to stamp out tax avoidance through borrowing costs – but it’s complicated

Finance Bill changes on EIIS are welcome

Allowing losses to be counted against capital gains tax would seem to be a no-brainer considering the risks involved in investing in start-ups

Things have moved fast since the Corporation Tax Roadmap update last January

By the time the Finance Bill is signed into law we will have enacted the entire Anti-Tax Avoidance Directive into our legislation – and there’s more to come

What the Finance Bill offers employees and entrepreneurs

There were few surprises in the 200-page document, but changes may be made to it as it passes through the Oireachtas

Tom Maguire: Multinationals must face brave new world ushered in by EU tax reform

It’s only a matter of time before member states bring in measures including a law change for reverse hybrid mismatches and public reporting for non-EU corporations

Tom Maguire: Debra might prove to be a very good friend to start-ups

With all the changes coming down the line, the introduction of CGT losses for EIIS companies and addressing the tax treatment of debt vis-à-vis equity when financing would be a help to start-ups

Tom Maguire: The four-year time limit on claiming a refund of your overpaid tax is unjustly rigid

While the rule is there for good reason, the absence of discretion in the law when there are extenuating circumstance should be looked at again

Tom Maguire: Why we’re likely to see the tax base broaden in the future

The exchequer weathered the pandemic fairly well, but only thanks to our now-endangered corporate tax base. Both the state and the IMF agree it would be wise to now spread the risk