While this month’s edition of the Irish Tax Monitor is published at a moment that can hardly be matched in critical importance for the future of Ireland’s international tax system, the Roundtable addresses a range of additional issues that go to prove that while the headline 12.5% rate is of critical importance, it is not the only game in town.
Also coming under the microscope this month are the tax aspects of Ireland’s Examinership model highlighted by several very significant cross-border restructurings including the Ballantyne Re & Nordic Aviation Capital Schemes of Arrangement and the Weatherford International plc and City Jet DAC restructurings by way of Examinership. Deloitte’s Chen Zhang says “the positive feedback to date from the Irish courts and the relatively flexible process of the Part 9 Scheme of Arrangement, will continue to make Ireland a favourable location for restructuring arrangements”. Also in this issue are the tax aspects of the IORP Directive, and continuing coverage of the tax arrangements being put in place and modified as the country continues to cope with the continuing Covid-19 crisis. Our special feature, this month, by Aine Gibney looks at the increased administrative requirements for the reporting of share awards for employees arising from Section 8 of the Finance Act 2020.