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LATEST NEWS

Tax deadline looming in Ireland

31 October 2016 is the pay and file deadline for income tax and capital acquisition tax. It is also the income tax preliminary tax payment date for tax year 2016.

Budget 2017 Going in the right direction on taxation

There are some positive taxation developments in Budget 2017 for Ireland in relation to DIRT, CAT, CGT and USC. An increased earned income credit for the self employed has been announced.

Do you qualify for 20% capital gains tax rate?

If you own a business or hold shares in a business you may qualify for the reduced CGT rate in Ireland.

Tax what next? Proposals in the Programme for Government 2016

The tax proposals for the next five years have been set out at a high level in the Programme for Government in Ireland 2016. In summary the programme includes the following statements about taxation.

20% Capital Gains Tax for certain business asset disposals

A reduced rate of Capital Gains Tax can apply on the disposal of chargeable business assets that qualify for entrepreneur relief.

Tax Appeals in Ireland

The Revenue Commissioners have made available a new Tax and Duty Appeal Manual in light of the new appeals process that commenced on 21 March 2016

Payment Deadline CGT 31 January 2015

The next Capital Gains Tax (CGT) payment deadline is 31 January 2015.

CGT Relief on Property acquired by 31 December 2014 and held for 7 years

The Revenue Commissioners have issued an eBrief confirming certain matters related to the capital gains tax (CGT) relief that applies to property held for 7 years.

CGT Payment Deadline 2014

The Capital Gains Tax payment deadline for disposals between 1 January 2014 and 30 November 2014 is 15 December 2014. For disposals during December 2014 the payment date is 31 January 2015.

Capital Gains Tax Relief for Property held for 7 years

To qualify for the capital gains tax relief for property held for 7 years the property must be acquired by 31 December 2014. This is understood to mean that an unconditional contract for the property must be in place by 31 December 2014 and that section 542 of the Taxes Consolidation Act 1997 will apply.

Vodafone return of value to shareholders tax treatment

The Revenue Commissioners have issued a guide on the tax treatment of the proposed Vodafone return of value to Shareholders.

Capital Gains Tax relief on property held for 7 years

Thinking of availing of the Capital Gains Tax relief on property held for 7 years? The property must be acquired by 31 December 2014 (Extended by Budget 2014).

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