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You are here:  Budget 2010 Business Taxation |
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| Business Taxation |
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Corporation Tax Rates
The Minister stated that the corporation tax rate of 12.5% will not change and is here to stay. |
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Three Year Corporation Tax Exemption for Start-Up Companies
In Budget 2009, the Minister introduced a measure whereby any new start-up company that commenced trading in 2009 would be exempt from tax, including capital gains in each of the first three years provided that its tax liability in the relevant corporation tax year did not exceed €40,000. This measure is subject to a Commencement Order which has not yet issued.
The Minister indicated today that the exemption would also apply to new start-up companies in 2010. |
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Employer PRSI Measures
A PRSI exemption will be provided to employers with a view to encouraging employers to take
employees off the social welfare. Further details of this measure are to be announced by the Minister for Family and Social Affairs. |
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| The above is intended as a general guide to the measures announced in Budget 2010. All changes announced are subject to being enacted in the forthcoming Finance Bill. It is possible that the measures described above may be modified prior to enactment. No action should be taken on the basis of the above without obtaining professional taxation advice. |
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Purcell McQuillan Tax Partners Limited, 17 Clyde Road, Dublin 4
T: (01) 668 2700 F: (01) 668 2750 E: pmq@pmqtax.com W: www.pmqtax.com |
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