News & Updates

Finance Act 2016

Introduction Finance Act 2016 was signed into law by the President on 25 December 2016. The Act contains a number of positive measures from a business perspective as follows: • Special Assignee Relief Programme (SARP) has been extended to the end of 2020 • Foreign Earnings Deduction (FED) has been extended to the end of 2020 and the […]

Budget Briefing 2017

Minister Michael Noonan delivered his sixth budget since becoming Minister for Finance in 2011.  Against a backdrop of a reduced GDP growth forecast for 2017 of 3½% due to Brexit, he has given a little to everyone. Capital Taxes Inheritance and Gift Tax Thresholds • The tax free thresholds have increased as follows:   Category A […]

Finance (Tax Appeals) Act 2015

The Finance (Tax Appeals) Act 2015 (the Act) was enacted on 25 December 2015 to bring into effect the long awaited reform of the tax appeals system.  The provisions of the Act are due to come into effect on a day appointed by the Minister for Finance.  The necessary statutory instruments were issued on 26 […]

Budget Briefing 2015

Introduction Michael Noonan delivered his fourth Budget Speech to the Dáil today.  The speech signalled the end of austerity with tax cuts for lower and middle income earners and the announcement of a corporation tax reform package.  Higher earners will see the reduction of the top rate of income tax to 40% being mostly offset […]

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 […]

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 […]