OECD minimum tax rate
Ireland reached a political agreement with the OECD on the introduction of a minimum effective tax rate of 15%. The longstanding 12.5% rate will however continue to apply to many other companies.
Tax newsletter December 2021
This series of articles will provide you with an update on tax developments that impact organisations in Ireland and those that do business with Ireland.
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Irish interest limitation rules - ILR
Finance Bill 2021 sees Ireland formalise its transposition of Article 4 of the EU Anti-Tax-Avoidance Directive (ATAD) into Irish tax legislation through the introduction of interest limitation rules (ILR). The ATAD ILR aims to limit base erosion by restriction of interest deductions.
Domestic exemptions from transfer pricing rules
Finance Act 2019 provided for an exemption to transfer pricing rules for certain domestic non-trading transactions.
Finance Bill 2021 - corporate updates
Section 18 introduces a change to the taxation of non-resident corporate landlords, by applying corporation tax at the higher rate of 25% to such income. Section 29, exclusion of certain Irish distributions from the anti-avoidance provisions of section 129A TCA 1997. Section 34 enhancement of relief for certain start-up companies, and extension by a further 5 years.
Business trips in Europe? Packed your A1 cert?
Workers travelling from one EU member state, the UK, Iceland, Norway, Liechtenstein or Switzerland and "posted" to another of those countries on a temporary basis need to carry an A1 Certificate. The obligation covers any economic activity, even if only for a short duration.
9 pre-year-end personal tax tips
As we approach the end of 2021, we have outlined some pre-year-end personal tax tips which one should bear in mind, including tax refunds, pension contributions, exemptions etc.