The Government’s commitment to the 12.5% corporation tax rate was reaffirmed again on Budget Day, with the Minister noting that “Ireland must compete, not only on the rate but on the ability to offer certainty.”
A pubic consultation is now underway to consider the recommendations contained in Mr Seamus Coffey’s Review of the Corporate Tax Code. The consultation process, which is due to close on 30 January 2018 covers:
The recommendation in the Coffey report to limit to 80% the amount of capital allowances/interest relief that can be claimed for intangible assets has been implemented with effect from midnight 10th October 2017 for assets acquired from that date. This measure is aimed at smoothing corporation tax revenues and is a timing issue only in terms of ability to claim relief rather than a restriction.
The scheme of 100% accelerated capital allowances for energy efficient equipment has been retained until the end of 2020.
The Finance Bill extends the definition of a group company for CGT group relief to include companies resident in tax treaty counties. Up to now the definition of group for this relief for inter-company asset transfers only applied to companies resident in EU or EEA states.
Return to: Budget 2018 Analysis
AIB Budget 2019 Presentation 824.4 KB
Oliver Mangan, Chief Economist with AIB presented on Budget 2019 at the Budget Briefing in the Talbot Hotel Stillorgan on 10th October 2018.Download
RBK Budget 2019 Presentation Dublin 1.42 MB
Ronan McGivern, Tax Partner, presented on Budget 2019 at the Budget Business Briefing in the Talbot Hotel Stillorgan on 10th October 2018.Download
Budget Highlights 2019 1.84 MB
Highlights from Budget 2019 including business tax, farmer tax, personal tax, VAT, miscellaneous tax and tax credits.Download
RBK - Budget 2019 Presentation - Athlone 1.29 MB
Fiona Murphy, Tax Partner, presented on Budget 2019 at the Budget Business Briefing in the Sheraton Athlone Hotel on 10th October 2018.Download
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