News & Updates

Finance Act 2018

Introduction We are pleased to provide our comprehensive commentary on Finance Act 2018 which was signed into law by the President on 19 December 2018.

Budget Briefing 2019

In the year of Brexit and against a background of forecasted tax revenue of €55.1 billion, the Minister for Finance and Public Expenditure and Reform Paschal Donohoe delivered his second budget this afternoon.  He is raising additional tax revenue of €700 million with the greater part coming from the reversal of the 9% VAT rate […]

Tax Tables 2018

The must have PMQ Tax Tables 2018 are now available.   If you would like a physical copy contact us at pmq@pmqtax.com.

Finance Act 2017

Introduction  We are pleased to provide our comprehensive commentary on Finance Act 2017 which was signed into law by the President on 25 December 2017. 

Budget Briefing 2018

The new Minister for Finance and Public Expenditure and Reform Paschal Donohoe delivered his first budget this afternoon.   As publicised in press reports over the last week the reduction in the USC and other changes to income tax thresholds are being partly financed by an increase in stamp duty from 2% to 6% on commercial […]

Tax Tables 2017

The must have PMQ Tax Tables 2017 are now available.   If you would like a physical copy contact us at pmq@pmqtax.com.

Tax Appeals Determination Summaries April 2017

As part of the reform of the tax appeals system, with effect from 21 March 2016, the functions of the Appeal Commissioners were taken over by a corporate body known as the Tax Appeals Commission (TAC).  Since the establishment of the TAC, all appeals by taxpayers are made directly to the Appeal Commissioners at the […]

Revenue Issue Letters to 500,000 Taxpayers on Undeclared Offshore Assets

The penalty for undeclared income and gains is 100% of the tax on the undeclared amounts.  However, where a person makes a qualifying voluntary disclosure to Revenue reduced penalties apply.  In addition, details of the settlement amount are not published and Revenue will not consider prosecution.  From 1 May 2017, any disclosure made to Revenue […]

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 […]