Tax Partner, Fiona Murphy, shared her analysis and opinion at our Budget 2021 Webinar on Wednesday morning, 14th October 2020.
Her presentation and further analysis can be seen below.
According to Ms. Murphy "Budget 2021 was delivered by Minster for Finance, Paschal Donohue TD and Minister for Public Expenditure and Reform, Michael McGrath against a backdrop of dealing with a global pandemic while continuing to prepare for Brexit. The Budget focused on the coming year and was underpinned by there being no bi- bilateral trade deal between EU and UK and the continued presence of Covid 19 in 2021, without the broad availability of a vaccine."
Overall there were limited tax measures which amounted to €270m of an overall budget package of c.€17.75bn. However, there were significant supports put in place for the business sector to support them during Covid 19 and Brexit.
In line with the Programme for Government for Climate Action, changes were introduced in relation to carbon taxes and an overhaul of the VRT and motor tax systems to incentive motorists to move away from higher polluting vehicles. The Minister acknowledged the significant contribution that Corporation Tax has made in financing some of the Covid related supports introduced earlier in the year. He re-affirmed their commitment to the 12.5% Corporation Tax rate. We can also expect changes in our tax regime in the not too distant future driven by International developments Overall, the Minister has focused on supporting business during these difficult trading conditions. As Minister Donohue stated “Budget 2021 is a bridge to that better future”.
Budget 2021 Presentation - Fiona Murphy 1.49 MB
Fiona Murphy, Tax Partner, presented on Budget 2021 at the Budget Webinar held on Wednesday, 14th October 2020.Download
Budget Highlights 2021 3.33 MB
Highlights from Budget 2021 including business tax, farmer tax, personal tax, VAT, miscellaneous tax and tax credits.Download
Budget 2021 Presentation - Simon Barry 1.15 MB
Simon Barry, Chief Economist Republic of Ireland with Ulster Bank presented on Budget 2021 at the Budget Webinar held on Wednesday, 14th October 2020.Download
Budget 2021 Presentation - Alan Shaw 825.37 KB
Alan Shaw, President of Athlone Chamber, presented on Budget 2021 at the Budget Webinar held on Wednesday, 14th October 2020.Download
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