New Limits on Disclosure of Political Donations

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Political donations are not required to be disclosed in the directors’ report if they are less than €200 (this was previously €5,079).  The disclosure must be sufficient to identify:

• The value of each such donation and
• The person to whom it was made. 

S1 432 of 2012 commences this amending section from 7th November 2013.  These disclosures are also required in annual returns to the Companies Registration Office made up to a date on or after 7th November 2013 and annual returns made to the Registrar of Friendly Societies by a trade union or a society registered under the Industrial and Provident Societies Act 1893-1978 or the Friendly Societies Act 1896-1977. 

A corporate donor intending to make such a donation in excess of €200 in any particular year to certain persons (specified in the section) must apply to the Standards in Public Office Commission to be entered on the register of corporate donors; see www.sipo.gov.ie for further details.

Brian Dignam is Partner in OSK. OSK are one if the leading Accountants in Dublin. Contact OSK for all your tax and accounting services today.

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• Political Donation

• Directors Report

• Companies Registration Office