Corporation Tax

Companies resident in Ireland must pay Corporation Tax on their worldwide profits if these profits include both income and capital gains. Corporation tax in Ireland is a crucial aspect of doing business in the country. Here’s what businesses need to know about it:

Rate: Ireland has one of the lowest corporation tax rates in the European Union, set at 12.5%. This low rate has been a significant factor in attracting foreign investment to Ireland.

Taxable Income: All companies operating in Ireland are subject to corporation tax on their profits generated in Ireland. This includes both domestic and foreign companies with operations or income sourced in Ireland.

Tax Credits and Deductions: Ireland offers various tax credits and deductions that can reduce a company’s tax liability. These may include research and development (R&D) tax credits, capital allowances, and foreign tax credits, among others. It’s essential for businesses to understand and leverage these incentives effectively.

ComplianceBusinesses operating in Ireland must comply with the country’s tax laws and regulations, including timely filing of tax returns, accurate reporting of income and expenses, and maintaining proper documentation to support their tax positions.

Tax Planning: Effective tax planning is essential for businesses to optimize their tax position while ensuring compliance with Irish tax laws. This may involve structuring operations efficiently, taking advantage of available tax incentives, and managing transfer pricing risks.


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