Irish taxes
Ireland is a country in Western Europe, with a population of 4 people. The capital of Ireland is Dublin.
This European country is called the Emerald Isle due to the fact that the island is rich in a variety of landscape species (forests, a large number of lakes).
As practice shows, Ireland is extremely popular among entrepreneurs from all over the world, thanks to its loyal tax system.
The country's conditions are extremely tempting for local and foreign businessmen. The main tax payment for legal entities is income tax. The Irish government signs a huge number of agreements with other states to prevent double taxation.
Income tax in Ireland
Local companies and non-resident organizations are required to pay income tax, regardless of their field of activity. Resident firms pay taxes on the total income received from the head office and representative offices located in other countries.
Non-resident enterprises make payments to the state treasury on the amount of income received in Ireland. The amount of income tax is 12,5% for trade in goods, and 25% for the provision of services offered. The amount of the tax payment is formed from income from the sale of products/services, capital increases and other types of passive income.
Key tax rates in Ireland:
- VAT – 23%, reduced rates 0%, 13,5%, 9%, 4%, 0% – for some types of product items/services.
- Increase in authorized capital – 33%, this tax does not apply to concluded double taxation agreements.
- State duty – 20 euros, stamp duty of 2%.
All tax payments in Ireland are payable by legal entities immediately after submitting annual reports. If necessary, Company specialists «E-COMMERCE BROKER will provide competent advice regarding the Irish tax base, reporting and other important issues.
We recommend sending your accounting reports and tax returns electronically, in which case you will pay a state fee of 20 euros. If reporting documentation is submitted on paper, the fee will be 40 euros.
Value added tax rate in Ireland:
- the standard VAT percentage is 23%;
- 13,5% is provided for the construction sector, provision of electrical energy;
- 9% - restaurant business, periodicals, museums;
- 4% - livestock maintenance/rental;
- 0% - sales of children's clothing, dental services, book sales.
In Ireland, for individual entrepreneurs and businessmen specializing in the small business niche (trade turnover less than 37 euros per calendar year), tax registration is not a mandatory requirement.
Provided that the entrepreneur earns more than 90% of the profit from the supply of products for various purposes, in this case, registration is carried out when the figure reaches 75 thousand euros per year.
A tax return is submitted once every 1 months, sometimes this time period can be once every 2 months. Also, with the VAT declaration, financial statements are generated and submitted. As an additional measure, organizations conduct audits to determine full compliance with generally accepted standards of the current Irish legislation.
You can receive detailed advice using the contacts provided or the feedback form.
