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 ...
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  18
  FEB
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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 ...
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  16
  DEC
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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. ...
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   13
   OCT
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€200 PROPERTY TAX ON INVESTMENT PROPERTY AND HOLIDAY HOMES TO COME INTO FORCE
Yesterday Environment Minister John Gormley outlined the tax in the Local Government Charges Bill 2009, which will become law at the end of next month. Announced last October, it is expected to give local authorities up to €40m per year in additional funding. Owners of residential rental properties, holiday homes and vacant residential properties-apart from those newly constructed and unsold-will be liable to pay the charge.

Those who ...

Income Tax Changes

Tuesday, April 07, 2009

The income levy rates have doubled and the exemption threshold on which the income levy will apply will be reduced from €18,304 to €15,028.

Income Levies

The income levy rates have doubled and the exemption threshold on which the income levy will apply will be reduced from €18,304 to €15,028. This means that taxpayers with gross income over €15,028 will face the following income levies rates:
2% up ...