Irish companies

Taxation in Ireland, Taxes for companies in Ireland.

Ireland is attractive jurisdiction with respect to other jurisdictions in taxes. Companies have to pay beside corporation tax also capital gains, value added tax (VAT), capital gains tax, stamp duty and also customs duties.

Standard tax rate for corporations is 12,5% and applies for trading profits, but also with some excluding like land dealing, income from specific dealings with petroleum, minerals, etc.

Passive incomes like dividends, interests, rents and similar are taxable at higher rate of 25%.

With rate of 25% are also taxed incomes from industries like exploitations, business connected to land development and also dealing with licenses.

Corporation tax is tax charged on profits calculated from incomes that are shown through financial statements. Some expenses are not allowed like in other jurisdictions.

Other factors that make Ireland very attractive location:

  • 12,5% corporate tax on trading profits
  • Tax exemption on capital gains on the disposal of shares
  • Exemptions from dividend, interest and royalty withholding tax
  • Wide range of signed treaties
  • Holding company allowance
  • Access to the EU funds
  • Ireland has wide network of double tax treaties signed based on the OECD model.
  • Revenue Commissioners is the tax authority in Ireland with primary duty to collect taxes and duties.
  • Standard VAT rate is 23%.

If you have questions about taxation in Ireland, do not hesitate to contact us.