Practical VAT Issues for Small and Medium Enterprises
Practical VAT Issues for Small and Medium Enterprises Accounting for VAT on a Cash Receipts Basis The annual turnover threshold for the cash receipts basis of accounting for VAT to apply is to be increased from €1.25m to €2m from 1 May 2014. What is the cash receipts basis of accounting for VAT? Normally a […]
Ireland’s 12.5% Corporation Tax Rate
Assistant Professor Jim Stewart from Trinity College Dublin has produced a paper challenging the PwC/World Bank Report which calculates the Irish effective Corporation Tax rate is 12.3%. By using data from the US Bureau of Economic Analysis he says the effective rate for US companies in Ireland is 2.2%. The Taoiseach among others responded by saying […]
Irish Income Tax published by Bloomsbury
Staff in PMQ are busy spending their weekends on the 2014 edition of Irish Income Tax the leading textbook published by Bloomsbury. The book has been authored by Purcell McQuillan since 2013 and runs to over 2,000 pages. If any tax consultant has comments on the book; good or bad we would be delighted to […]
Budget Briefing 2014
Introduction The aim of Budget 2014, announced in the Dail this afternoon by the Minister for Finance, Michael Noonan (two months earlier than normal) is to reach a deficit target of 4.8% by the end of 2014. The overall budget of €2.5 billion includes €1.2 billion in revenue savings (inclusive of €500 million carried forward […]
Finance (No.2) Act 2013
We are pleased to enclose our commentary on Finance (No. 2) Act 2013. The Act is shorter than recent Acts being only 103 pages compared with over 170 pages for Finance Act 2013. The Act contains a number of pro-business measures announced by the Minister in his Budget speech as follows: the retention of the […]
Tax Update on Current Tax Developments
Criticisms of Irish Corporation Tax Regime Ireland’s corporation tax regime has come under much criticism from two sides in recent times. On the one side, the UK’s spending watchdog, the Public Accounts Committee, has called on HM Revenue and Customs to investigate Google due to the fact that although it generated sales of $18 billion […]
