On September 15, 2017 the Irish Revenue released Revenue eBrief No. 80/17. Via the eBrief the Irish Revenue informs the public that it has published a new Tax and Duty Manual (Tax and Duty Manual Part 37-00-41, “Review of Opinions or Confirmations”). The purpose of the manual is to set out Revenue policy on the maximum period of validity of Revenue opinions or confirmations. It also provides an update in respect of a review of opinions or confirmations issued by Revenue before 1 January 2012.

 

The circumstances in which an opinion/confirmation may be obtained from Revenue, and the procedures that must be complied with, are set out in Tax and Duty Manuals Part 37-00-40 (for cases dealt with by Revenue’s Large Cases Division) and Part 37-00-00a (for cases dealt with through Revenue’s Technical Service).

 

Many opinions/confirmations provided by Revenue relate to once-off transactions and the question of their continuing validity does not arise. Where however, having regard to the matter on which it is provided, an opinion/confirmation is capable of being relied on by a taxpayer for a period of time, it is Revenue policy that the maximum period for which it may remain valid without being reviewed is 5 years (or, where applicable, the equivalent length of time in accounting periods of the taxpayer concerned). However, in some cases, a shorter period of validity may be specified by Revenue.

 

The validity period of an opinion/confirmation, whether 5 years or such shorter period as may have been specified by Revenue when providing the opinion, may become shorter because:

·   An opinion/confirmation will only remain valid for so long as the facts and circumstances on which it is based have not changed and the relevant legislation and practice remain in place; and

·   An opinion/confirmation can be reviewed by Revenue at any time, with a view to amendment or withdrawal, in the light of changes in the relevant facts, circumstances or other information, or where, in the absence of such changes, Revenue decides to reconsider its position.

 

The new Tax and Duty Manual furthermore discusses the review of opinions/confirmations issued by Revenue before 1 January 2012. In that respect the new Tax and Duty Manual discusses a.o.:

·   eBrief No.8/2017 from January 26, 2017 (The guidance issued by the Irish Revenue via this eBrief is attached as an Appendix to the new Tax and Duty Manual)

·   Applications for the renewal or extension of opinions/confirmations

o  Number of requests for renewal or extension

o  Processing of applications

o  Status of opinions/confirmations pending a review of applications

o  Exchange of information with other tax authorities

·   Opinions/confirmations for which an application for renewal or extension has not been made

 

Click here to be forwarded to the Tax and Duty Manual Part 37-00-41, “Review of Opinions or Confirmations” as released in September 2017 by the Irish Revenue.

 

 

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