Archive for 'News'

With thanks to the O2 Ideas Room for blog posts…

A QR Code (short for Quick Response) is a specific matrix barcode, storing information in both the vertical and horizontal directions, readable by dedicated QR barcode readers and smart phones / camera phones.

QR Codes were originally developed in 1994 and used in the vehicle manufacturing industry for tracking parts etc, but are now being used very successfully in integrated marketing campaigns across the globe. The technology has seen a huge uptake ...

Most people hear the adverts on the radio come October each year informing you that the Income Tax filing deadline is looming, and you have until 31 October to file your Income Tax return. A lot of individuals probably aren’t fully aware of their obligations to file a return, and what are the potential ramifications of they fail to do so.

A large percentage of the working population in Ireland would be regarded as ‘normal PAYE’ workers. That is, they are ...

Most of us wait till the 11th hour to file our income tax returns, but it’s worth getting a head start on them now. We explain how to keep on track…

1. File on Time. You don’t want to file too late.. A lot of people, it seems to be something they definitely don’t want to do and not their favourite time of year so they put it off as long as possible.”
2. Avoid paying extra. If you file past the October 31st ...
   Continue Reading →
   28
   JUN
   0
   Share

Finance (No.2) Act 2011 introduced a second reduced VAT rate of 9% to apply in respect of supplies of certain goods and services for the period 1 July 2011 to 31 December 2013.

The 9% rate applies to certain goods and services previously liable at the 13.5% rate, including restaurant and catering services; hotel and holiday accommodation; admissions to cinemas, theatres, certain musical performances, museums and art gallery exhibitions; fairgrounds or amusement park services; the use of sporting facilities; hairdressing services; ...

New Electronic VAT Refund (EVR) procedures with effect from 1 January 2010
The following is some information on the new EVR procedures for both Irish and Foreign Traders and their agents.

New and existing agents, acting on behalf of Irish traders can make an application on behalf of a client for a refund of VAT incurred in another Member State, provided that they:

• have a TAIN number (Tax Advisor Identification Number) and
• are registered with ROS and
• have been linked to their client for ...
  Continue Reading →
  18
  FEB
  0
  Share

As widely anticipated, the Budget focused mainly on cutting expenditure, but also included various taxation measures. The small business owner was saved from higher taxes but really there was no assistance or incentives given.

• No changes to income tax rates, income levy, or PRSI for 2010.
• Universal social contribution scheme to replace PRSI, the health levy, and income levy to be introduced in 2011
• No change to income tax bands, allowances or credits
• Increase in effective tax rate for ...
  Continue Reading →
  16
  DEC
  0
  Share

Once again the Revenue have announced an extended deadline  ….

Revenue announced an extension to the return filing and tax payment date for self-assessment customers using the Revenue On-Line Service (ROS). For customers who file the 2008 Form 11 return and make the appropriate payment through ROS for:

• Preliminary Tax for 2009,
• Income Tax balance due for 2008,

the due date is extended to Monday 16th November 2009.

To qualify for the extension, customers must both pay and file through ROS. Where only one ...

Revenue are willing to delay enforcement action or collection of late payment of tax, in cases where a business is experiencing difficulties in meeting its tax obligations because of a delay in receiving a statutory redundancy rebate. Satisfactory evidence of the redundancy rebate due must be supplied to Revenue.

Revenue has advised that to ensure the above arrangements are applied promptly, the business should provide authorisation for payment of the rebate directly to Revenue by submitting a completed application ...

Income Levy and Preliminary Tax 2009

An extract from Revenue  guide for completing Preliminary tax …

Preliminary tax for the income tax year 2009 is due on the 31 October 2009. To avoid interest charges, the amount of preliminary tax payable is the lower of:

1. 90% of final liability for the current tax year – 2009 or
2. 100% of final liability to tax for the previous year – 2008 or
3. 105% of final liability for the pre-preceding year. ...
   Continue Reading →
   13
   OCT
   0
   Share

THE REQUIREMENT TO HAVE AN IRISH RESIDENT DIRECTOR IN ORDER TO INCORPORATE A COMPANY IS CHANGED TO REQUIRE A EEA RESIDENT DIRECTOR ONLY

The Companies Amendment Bill 2009 has been signed into law. Section 10 of the bill changes the requirement for an Irish resident director to a requirement for an EEA resident director. The EEA is all of the EU plus Iceland, Liechtenstein and Norway.