Compliance

Keeping pace with regulations and obligations

What does Compliance mean?

Organisations grappling with changes in workforce demographics and work environments need to be prepared for ever-increasing compliance burdens. These burdens include taxation, as labour taxes now outstrip corporate taxes globally. Such taxes are increasingly viewed by Revenue authorities around the world as ‘easy pickings’.

Many stakeholders across organisations - including HR, Payroll, Tax and Finance - need to play their part in minimising risk, controlling costs and improving compliance processes. This orchestrated approach will reduce the risk of non-compliance and the resulting reputational damage of getting it wrong.

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People and organisation: Compliance in a disrupted world

The regulations and obligations on employers have always been onerous, but in a disrupted and distributed world of work, there are new challenges to be faced. How can businesses adapt and remain compliant?

    

Employment taxes

In a complex work environment, you face growing challenges handling tax issues arising from recruiting, rewarding, and redeploying employees.

Tax authorities increasingly regard the employer as their tax agent responsible for collecting taxes and social security contributions in real time. This places a significant burden on payroll, finance, HR and tax functions to minimise risk and avoid the reputational damage of getting it wrong.

Revenue audit support

As the compliance burden increases, and Revenue authorities dedicate more resources to interventions and investigations, the number of Revenue audits are increasing.  They increasingly use forensic methods to interrogate payroll data in ways that were not previously possible.

As an employer, you need to be prepared for PAYE tax audits and disputes and know how to minimise potentially expensive settlements in order to protect your corporate reputation.

Payroll consulting

Estimates suggest that more than 35,000 tax and social security adjustments are needed annually to operate payroll in compliance with local regulations around the world.

Many of the businesses we talk to take a proactive approach - involving Payroll, Tax, HR and Finance - to reviewing their payroll processes and the underlying tax treatment of payroll items to ensure compliance, reduce risk and increase efficiency.


     

    

    

Director’s compliance statement

After June 1 2015, the Directors’ Report in a company’s Irish financial statements must confirm that all taxes are up to date and that annual reviews have been undertaken. Failure to ensure compliance in these areas could mean heavy penalties.

Our dedicated Directors' Compliance Statement page contains more information about this new statutory requirement in Ireland.

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Directors’ Compliance Statement: It’s your responsibility

Our experts in tax, governance and assurance discuss the relevant provisions of Companies Act 2014, outlining the obligations imposed and the actions needed to ensure compliance.

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How we can help

Compliance requires oversight and adherence to strict guidelines. Adopting a proactive approach to managing regulatory and tax risk, and handling Revenue audits and disputes, can help prevent any potential negative impact on your business.

We can work with you to ensure that your tax function has the relevant controls and other frameworks in place that allows allow you to focus on your business.

Let us help you make sure you are on the right track.

Contact us

Carmel O'Connor
Partner
Tel: +353 1 792 6417
Email

Pat Mahon
Partner
Tel: +353 1 792 6186
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Mark Carter
Partner
Tel: +353 1 792 6548
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Mary O'Hara
Partner
Tel: +353 1 792 6215
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