Latest Irish Tax News
The ITAS Accounting blog brings you the latest Irish tax news and finance news, including the latest Revenue updates, amendments to legislation, tax deadline reminders, tax tips, business tips and more.
Moving to Ireland – what is taxable?
If you are coming to work in Ireland, your residency determines your tax status. Here we provide a summary of Ireland’s residency rules and tax implications. If you are present in Ireland for 183 days in one year or 280 days over two consecutive tax years you will be...
Covid-19 Loan Scheme for businesses
The Government have announced additional measures to assist businesses affected by the pandemic. The Covid-19 Loan Scheme will be offered to SME’s, including, farmers, fishers & food businesses. Loans of €25,000 up to €1,500,000 will be available with terms of 1-6...
Covid-19 Illness Benefit Extended
The extension of the Covid-19 Illness benefit was announced last week until the end of September 2022. This was to end in June 2022. This enhanced illness benefit was first introduced at the start of the pandemic to support those diagnosed and unable to work due to...
Could we be on the road to more money in our Pockets?
The government is hoping to move income tax credits and rate bands in October’s budget for 2023 to improve take home pay and move in line with wage growth within the economy. Responding to the increase in the cost of living, Finance Minister Paschal Donohoe stated “we...
Pandemic Special Recognition Payment to frontline healthcare workers
Recently, the Government announced and agreed a recognition payment of €1,000 to be made to all frontline healthcare workers, to recognise their role during the pandemic. So, who does this apply to? Frontline Healthcare workers (including agency staff working for the...
9% Reduced VAT rate set to be extended
In 2020, the hospitality sector received a welcome boost with a reduced VAT rate of 9% to assist due to significant losses incurred during the pandemic. The 9% rate applies to supplies of goods and services in the tourism and hospitality sector and also includes...
Landlords to register all tenancies with the RTB
As of 4th April 2022, landlords must register their tenancies with the Residential Tenancies Board (RTB) every year. This must be completed within one month of the tenancy commencing or it’s anniversary. The aim is to effectively regulate the rental sector. How do I...
Lottery Income Scheme for Artists
A new income support for up to 2,000 artists was launched today by the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media. The Basic Income for the Arts pilot income scheme will see up to 2,000 artists receive €325 per week, paid monthly and is subject...
Overdue Local Property Tax Returns
To date, there are over 300,000 homeowners with overdue Local Property Tax Returns. The Local Property Tax return was due by 1st November 2021 for the valuation period 2022-2025. Revenue will be contacting these homeowners over the coming weeks to submit their return....
What is the difference between an accountant and a bookkeeper?
The roles of accountants and bookkeepers regularly over overlap and can seem quite similar but there are important differences when deciding what professional is right for your business. Bookkeepers Bookkeepers organise and record all businesses financial transactions...
Setting up a Company in Ireland
In this scenario, we look at a company looking to set up in Ireland from abroad. A company may look to set up in Ireland to access the EU market and to avail of our 12.5% corporation rate, but what do they need to consider before doing so? Filings The company needs to...