Revenue launched a Consultation Paper on 11th October 2016 regarding the modernisation of the PAYE system.
PAYE modernisation (i.e. a move to real-time information) will be one of the most significant changes in the history of the PAYE system. The object of the modernisation is that Revenue, employers and employees have the most up to date pay, tax, USC and PRSI information. According to the consultation paper, "it is anticipated that this reporting process by employers to Revenue will be fully integrated into the employer's payroll run, thereby contributing to a significant streamlining of business processes and reducing administrative cost for employers"and the "Forms P30, P35, P45s, P46s and P60s will be eliminated".