Ireland: Tax provisions in budget 2018 | KPMG | GLOBAL

Ireland: Tax provisions in budget 2018

Ireland: Tax provisions in budget 2018

Ireland’s government today announced the details of the budget 2018.

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Among the business tax measures announced in the budget are the following:

  • An 80% cap on the amount of capital allowances, and related interest, that can be claimed each year against related income is to be re-introduced for intangible assets acquired from midnight tonight.
  • The 12.5% rate of corporation tax is to be continued.
  • A share-based remuneration incentive is being introduced to facilitate the use of share-based remuneration by SME companies (not quoted on stock exchanges) to attract “key employees.”
  • There was no mention of any expansion of the entrepreneur relief for capital gains tax; thus, the existing limit of €1 million that is subject to the 10% tax rate would appear to continue for 2018.
  • There is an increase in the rate of stamp duty on commercial property, from 2% to 6%.
  • The value added tax (VAT) reduced rate of 9% for the tourism sector is to be retained.

 

Read an October 2017 report describing business tax measures in the budget, as prepared by the KPMG member firm in Ireland

Read an October 2017 report [PDF 626 KB] providing a general overview of tax measures in the budget, prepared by the KPMG member firm in Ireland 

Additional information and reports on the budget 2018 are provided by KPMG in Ireland on a dedicated website

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