Ireland: Guidance on 2020 employee share award returns, reporting

Guidance on 2020 share incentive arrangements and associated reporting obligations

Guidance on 2020 share incentive arrangements and associated reporting obligations

Irish Revenue released guidance concerning share incentive arrangements and associated reporting obligations.

One release sets out updates made to the share scheme manual, to reflect the new reporting requirements for unapproved share arrangements and also concerning awards when sell-to-cover rules apply.

The second release concerns employee share awards and the returns to be completed by employers. The form sets out the information to be returned for employees and directors in the company in relation to all unapproved employer share awards and that also must include cash payments that derive their value directly or indirectly from shares. Prior to this release, there was no prescribed format for the reporting of unapproved equity arrangements other than for share option-related transactions. The filing will apply retrospectively for the 2020 tax year with the deadline for the 2020 tax year being 31 August 2021.  

Read a June 2021 report prepared by the KPMG member firm in Ireland

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.