Date: 02 March 2022
The Minister of Finance and Employment has recently issued Legal Notices relating to Payroll.
LN 66 of 2022- The Minister for Finance and Employment has notified of new amendments relating to the FS4 form. The change refers to Section B box B5 whereby the exempt income increased from €9,840 to €10,020 with effect from basis year 2022. Please click here to read the Legal notice issued LN 66 of 2022 – Final Settlement System (FSS) (Amendment) Rules, 2022
LN 67 of 2022 – The Part-time Work (Amendment) Rules, 2022 have been amended by LN 67 of 2022 to delete Schedule A and Schedule B. Schedule A was a form that used to be filled in by self-employed individuals to declare their profit and loss while schedule B was a form used to declare tax to be paid from part-time employment. These forms can now be downloaded from the Commissioner for Revenue website. Please click here to read the Legal notice issued LN 67 of 2022 – Part-time Work (Amendment) Rules, 2022
LN 68 of 2022 -Rule 3 of the Tax on Overtime Rules has been amended in such a manner that with effect from the year of assessment 2023, the maximum amount of qualifying overtime income derived by an individual in terms of Article 90B of the Income Tax Act cannot exceed (a) EUR 10,000 and (b) does not exceed the number of the actual overtime hours multiplied by the maxrate of 40 hours. Please click here to read the Legal notice issued LN 68 of 2022 – Tax on Overtime (Amendment) Rules, 2022