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 […]
Bank of Ireland Seminar on Tax and Property
Brian Purcell was delighted to speak at the Bank of Ireland Seminar on Tax and Property at the RDS 16 May 2018
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.
PMQ Notice
PMQ emails are down at the moment but should be back shortly. If you wish to contact us please use the landline 01 668 2700 or mobile.
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 […]
The Domicile Levy
It is not unusual to read reports in the media of individuals using tax losses to their advantage and availing of the loopholes to reduce their tax liability. The domicile levy which was introduced in 2010 is the complete opposite. It is an example of the State seeking tax from individuals outside the spirit of […]
Thinking of Moving to Ireland
An English speaking country neighbouring the UK, Ireland offers many advantages for individuals who wish to relocate from the UK and maintain access to the European Union. In Ireland, an individual’s residency and domicile determine their liability to income tax. Individuals who are Irish resident and domiciled will be liable to tax on their worldwide […]
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 […]
New Revenue Staff Guidelines on RCT Penalties
The Irish Taxation Institute has circulated a copy of Internal Guidelines issued to its staff by Revenue on how to deal with the relevant contracts tax (RCT) penalty regime and the basis for penalty mitigation. A principal who makes payments to subcontractors within the RCT system is obliged to notify Revenue of the intention to […]
Revenue Annual Report for 2015
The Revenue recently issued their annual report for 2015. Some interesting facts which are contained in the report are as follows: • Net tax receipts for 2015 were €45.78 billion compared with €39.4 billion for 2014. Taxes on income, which include USC, DIRT, dividend withholding tax, accounted for 40% of overall net receipts with the other […]
