Finance (No.2) Act 2011 – Levy on Pension Schemes

Section 125B of the Stamp Duties Consolidation Act 1999 (as inserted by section 4 of the Finance (No.2) Act 2011) provides for an annual stamp duty of 0.6% of the market value of assets held for the purposes of pension schemes approved by the Revenue Commissioners under Irish tax legislation.

The legislation provides, in the definition of “chargeable amount” (to which the 0.6% Stamp Duty is to be applied), that the chargeable amount ...

NOTICES TO EMPLOYERS ON ABOLITION OF EMPLOYER PRSI CHARGE ON SHARE-BASED REMUNERATION and PRSI INCORRECTLY PAID ON EMPLOYER CONTRIBUTIONS TO AN EMPLOYEE’S PERSONAL RETIREMENT SAVINGS ACCOUNT (PRSA).

The Minister for Social Protection, Ms. Joan Burton T.D., issued a Press Release on 23rd August 2011 regarding share-base remuneration which is available at http://www.welfare.ie/EN/Press/PressReleases/2011/Pages/pr230811.aspx

The Minister has authorised that the deduction and remittance of employer PRSI on share-based remuneration cease with immediate effect.

The Minister has further authorised ...

The new RCT system will go live on January 1st 2012. Principal Contractors will be able to access the new system from 28th November 2011 to allow them notify Revenue of the contracts that will be rolling over into 2012 or make amendments to these contracts.

In general, subcontractors with a valid C2 on 25th November 2011 will qualify for the zero rate from 1st January 2012 and this rate will remain until 31st March 2012.

To ensure that

Speech from Minister

Last week my colleague, the Minister for Finance, published the Medium-Term Fiscal Statement.  It sets out the contribution to our consolidation effort from taxation and current and capital spending.  Today, I set out the Government’s capital spending programme consistent with that framework.

Clearly we are now living in different economic times.  This report, by necessity, is about priorities.  We cannot afford to do all that we want to do.  It is fashionable in some quarters to suggest the emphasis ...

Value-Added Tax – Bakery Products and Food Supplements

The purpose of this eBrief is to clarify Revenue’s VAT treatment of Bakery Products and Food Supplements.

Bakery Products

The supply of bakery products such as cakes, biscuits, bagels and croissants, being flour or egg based bakery products, is liable to VAT at the reduced rate of 13.5% in accordance with paragraph 3(5) of Schedule 3 of the Value-Added Tax Consolidation Act (VATCA) 2010, as ...