Taxation issues to consider when buying goods outside of the EU.

The Irish Revenue Commissioners have issued a reminder of the taxation obligations that arise when you buy outside the European Union (EU).

Revenue has confirmed that it raised €2.1 million in duties and VAT in 2014.  It applied charges to 88,280 parcels.

Why? What are the rules when buying outside of the EU?

VAT is payable on the importation of goods from outside the EU if the value of…

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How to qualify for Agricultural Relief in Ireland

If you qualify for agricultural relief then you are only liable to Irish gift or inheritance tax, capital acquisition tax, calculated on 10% of the market value of the agricultural property received in the gift or inheritance. You get 90% of the market value tax free so you will want to qualify for agricultural relief.

There are a number of conditions that you must satisfy in order to claim agricultural relief.

1. The property must fall within the definition of agricultural property.  There is a detailed definition and it covers more than physical land, including buildings, machinery and livestock.

2. A benefit…

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What is agricultural relief?

If you qualify for agricultural relief you obtain a tax relief. Agricultural relief is a tax relief

Agricultural relief is a tax relief against capital acquisition tax if you receive a gift or inheritance of agricultural property that is liable to gift or inheritance tax in Ireland.

If you qualify for agricultural relief you obtain a tax relief.  The tax relief reduces the market value of the…

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Have you notified Irish Water of tenants’ details if you are the landlord of a residential property?

If not, rules that came into force on 1 October 2015 make you, the landlord/non occupying property owner, liable for the water charges being levied by Irish Water.

If you, the landlord/non occupying property owner, fail to provide Irish Water with the tenant’s details within 20 working days of the start of the tenant’s occupation of the property you become liable for the Irish Water charges until the information is given to Irish Water.

If you already have…

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Budget 2016 – how it helps those who are self employed.

Budget 2016 is a step in the right direction for those who are self-employed including those in the farming community.


The reductions in the USC rates is welcome as anyone earning €13,000 to €70,044 will benefit from the reduced rates. 

There is a total exemption from USC if your total income is less than €13,000.  For everyone else, depending on your income level the new…

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