Starting January 1, 2024, finance teams in the Republic of Ireland must adhere to updated payment reporting regulations. These regulations enhance transparency in expenditure but present challenges for timely compliance. The new reporting requirements are introduced by Section 897C of the Finance Act 2022.

What needs to be reported?

Employers need to report to Revenue when a payment is made to an employee or director under one or more of the following categories:

  • Small benefit exemption: details of the date paid and the value
  • Remote working daily allowance: total number of days, amount paid and date paid
  • Travel and subsistence: date paid and amount of each payment for travel vouched, travel unvouched, subsistence vouched, subsistence unvouched, site-based employees (including ‘country money’), emergency travel and eating on site

How does this need to be reported?

Payments must be reported at the same time the payment is made or in advance.

The reports should be submitted to Revenue through Revenue Online Service (ROS). This can be manual or through accounting or ERP software. You can find more information on how to submit payment details on Revenue’s website.

💡 Rydoo can support clients with the Enhanced Reporting Requirements in Ireland. While payment information, including the paid date, may reside in external systems such as accounting or ERP tools, Rydoo simplifies the reporting process by already capturing and storing essential data such as the payment amount and category as standard practice. This streamlined approach ensures that finance teams can effortlessly export the necessary information for reporting purposes. Additionally, Rydoo’s flexibility allows users to configure custom fields, in case any additional data is required.

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