Following the signing of a Commencement Order by the Minister for Finance this week, all employers will be required to make returns of certain non-taxable benefits and expenses in real-time under the Enhanced Reporting Requirements (ERR) from 1 January 2024. Revenue has however advised that “a service for compliance approach will be taken until the 30 June 2024”. During this period, Revenue will not be operating any compliance programmes in relation to the ERR and will not seek to apply any penalties for non-compliance.
Since the measures were first announced in last year’s Finance Act, CCAB-I have raised members’ concerns with the new requirements. In addition to several submissions to Revenue, we wrote to the Minister for Finance on two separate occasions seeking the abolishment of the real-time reporting requirement and more recently a delay to the implementation date.
While disappointed with yesterday’s announcement, we urge members to ensure they are enabled to commence reporting under ERR from 1 January 2024.
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