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Irish Company Accounting and Tax Filing

Updated:2018-11-28 14:07:42    Source:www.tannet-group.comViews:220

Irish company accounting and tax filing is one of the compliance requirements that need to be abide by for business owners in order to maintain the normal operation of the company. Taxation is something that need professional expertise. And it is not possible to do everything yourself. Sometimes business activities can take up too much of your time and ultimately hamper your company’s growth. Therefore, outsourcing the company accounting and tax filing to a reliable accounting firm is highly recommended.

Corporate Taxes
A company is considered to be tax resident in Ireland if it is incorporated in Ireland or if its central management and control is exercised in Ireland. Ireland tax resident companies are taxed on their worldwide income (including profits from foreign branches or permanent establishments). Non-Ireland tax resident companies are taxed on income generated in Ireland.

1. Tax Base for Resident and Foreign Companies
A company that resides in Ireland for tax purposes is subject to corporate taxes on its global income. With some exceptions, a company that is incorporated in Ireland is automatically considered to be an Irish tax resident. A company is also considered to be an Irish tax resident if it is managed and controlled in Ireland.

2. Corporate Tax Rates
(1) Corporate Tax Rate on rading Income: 12.5%;
(2) Corporate Tax Rate on investment Income: 25%;
(3) Corporate Tax Rate on qualifying dividends from EU and tax treaty territories: 12.5%.

3. Other Corporate Taxes
Companies may be subject to other taxes, including stamp duties on the transfer of property (1-6%), local property taxes (0.18% for real estate valued up to EUR 1 million, 0.25% for values over EUR 1 million) and industry-specific taxes such as a construction operations tax and a shipping tonnage tax (that can replace the corporate income tax).

Accounting Practices
1. Tax Year
A company’s first financial year is the period beginning with the date of its incorporation and ending on a date no more than 18 months after that date. Each subsequent financial year continues for 12 months by default plus or minus seven days as the directors may determine.

2. Publication Requirements
Irish law requires all companies to prepare annual audited financial statements (complying with IFRS Standards), with an audit exemption for dormant companies, companies limited by guarantee, unlimited companies and companies that meet a certain size criteria. Audited financial statements generally must be approved within nine months of the company’s year- end. There are no requirements for a company to use the calendar year. Companies with unlimited status are not required to file their accounts in some circumstances.

Tannet can help you set up a company in Ireland, and we also provide accounting and tax filing services. If required, we can also assist you in registering Irish trademark. We have extensive knowledge and experience in providing tailored solutions to our clients. We can provide you with the service you need, whether on a short-term or long-term basis.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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