Monday 26 August 2019

Revenue in urgent call for firms to act on Brexit

'There is some concern about the capacity of Revenue and other State agencies to cope with the pressure which will be brought about by Brexit' Photo: PA
'There is some concern about the capacity of Revenue and other State agencies to cope with the pressure which will be brought about by Brexit' Photo: PA
Samantha McCaughren

Samantha McCaughren

The Revenue Commissioners are to embark on a new targeted campaign to heighten awareness among businesses of the urgent need to take action ahead of Brexit.

Over the coming weeks, the tax authority is to "undertake an intensified and individual business-focused engagement programme".

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"Letters will issue to traders on a phased basis and will outline the other steps, in addition to having an EORI (European Union registration and identification) number, that are necessary to prepare for Brexit. This especially relates to customs declarations and other obligations relating to guarantees, authorisations and, if required, third-party licensing," said a spokesman.

Further detail of this latest phase of Revenue's Brexit planning campaign will be announced in the coming days. However, there is some concern about the capacity of Revenue and other State agencies to cope with the pressure which will be brought about by Brexit.

Umbrella accountancy body CCAB-I sought additional resources for Revenue to cope with Brexit in its pre-Budget submission.

Meanwhile, the Institute of Taxation in Ireland has held meetings with members, urging them to speak to their clients about Brexit preparations.

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