Employees in receipt of share options will no longer be left to sort out any tax due on their own as a result of the Finance Bill. The Department of Finance has decided to move the onus for addressing tax liability for any capital gain on to the employer rather than the individual, with tax to be deducted through the PAYE system from January of next year.
The Department of Finance said the move would “put an administrative practice of the Revenue Commissioners on a statutory footing”. Finance Bill 2023, whose main function is to provide the legislative underpinning for measures announced in Budget 2024, has also moved to close a pension loophole where holders of approved retirement funds could use the assets in the fund as a loan or security for a loan to themselves or a company to which they are connected without facing a tax charge. Any funds lent or used as security in those circumstances will now be seen as a distribution from the fund and liable to income tax and USC.
Portugal Últimas Notícias, Portugal Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fonte: IrishTimes - 🏆 3. / 98 Consulte Mais informação »
Changes to corporation tax published in Finance BillThe Finance Bill, which puts the tax changes announced in last week's Budget into legislation, has been published by the Minister for Finance, Michael McGrath.
Fonte: RTEbusiness - 🏆 16. / 61 Consulte Mais informação »
Fonte: IrishTimes - 🏆 3. / 98 Consulte Mais informação »