corporate tax system

Payroll administration in Ireland

In order to understand the Payroll administration in Ireland, you have to understand the set of rules and obligations associated with it. These include employer obligations, inclusive of the tax and social security payments. Employers are entitled to withhold tax from their employees’ paychecks during every pay period, and they should report these deductions to the Irish Office of the Revenue Commissioners. 

How to open a travel agency in Ireland

Ireland offers favorable trading conditions for touristry companies, thus it has become one of the most targeted destinations for foreign travel agencies. Irish tourism companies can benefit from a number of incentives such as the Travel Agent’s Margin Scheme whereby they are exempted from paying VAT on any services connected to tourism. Due to these privileges, tourism is one of the most thriving industries in Ireland and can be a lucrative investment for both foreign and local investors.

Double taxation treaties

A lot of companies are finding luck in Ireland’s low corporate tax. Over the years, Ireland has attracted many foreign investments and has also benefited from its low corporate tax requirements. Ireland also signed double taxation treaties with most industrial nations in order to prevent the duplications of companies' taxes. 

Dividend tax in Ireland

According to the Irish legislation, all companies registered in Ireland are required to comply with the terms and conditions stated in the Dividends Withholding Tax legislature. The standard withholding tax for dividends in Ireland is 20%. This Tax will be deducted from payables which are relevant distributions i.e.income tax and corporation tax (applicable at the rate of 12,5%).

Corporate tax rates in Ireland

Ireland is one of the most targeted countries by foreign investors due to its significantly low tax rate. Ireland’s corporate tax rate is about half the tax rate of the majority of most developed countries in the Organization for Economic Cooperation and Development.