We are pleased to bring you our summary of the tax measures set out in Budget 2021.
The Government framed Budget 2021 in the midst of immense economic challenges presented by COVID-19 and Brexit. Irish businesses face extraordinary headwinds, and the Budget both reaffirms existing measures and introduces new measures to assist businesses through these extraordinary times. Ministers Donohoe & McGrath recognised that SMEs are the backbone of the Irish economy and it is hoped that future policy initiatives of this Government will focus on and positively address the taxation costs faced by SMEs.
Should you have any taxation or business questions, our team would be happy to share their insights with you.
Download our Budget 2021 newsletter in PDF format.
A synopsis of Business Tax, Property, Personal Tax, Tax Credits and Income Tax Rates along with other notable announcements. Download our Budget 2020 newsletter in PDF format for full analysis.
The following headline items arise in Budget 2109. Download our Budget 2019 newsletter in PDF format for full analysis.
• Corporation Tax Rate remains at 12.5%
• A new Anti-Avoidance Directive (ATAD) compliant Exit Tax regime is to come into effect from midnight tonight.
• The 9% VAT Rate will be increased to 13.5% for the Hospitality sector from 01 January 2019
• There will be an increase in the Minimum Wage to €9.80 from 01 January 2019
• The Minister announced changes to both the rates and bands for Universal Social Charge
• Increase in the Standard Rate Income Tax bands of €750
• The Earned Income Tax Credit will increase to €1,350
• The Training Levy Fund will increase by 0.1% which will increase the employers PRSI rate
• An increase in the Group A Exempt Threshold for Capital Acquisition Tax of €10,000 was also announced