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VAT and Medical Services Professional Medical care services recognised by the Department of Health are exempt from VAT in accordance with Paragraphs 2 (3) and 2 (7) of Schedule 1 of the VAT Consolidation Act 2010. The European Court of Justice (ECJ), which interprets the VAT Directive, decided in a number of cases that certain…
budget-summary-2012 For an overview of all the changes outlined by the Minister for Finance Michael Noonan click on the above link as published by the Revenue Commissioners. Alternatively read the detailed listing below. Taxation Income tax There are no changes in the existing rates or income tax bands. There are also no changes…
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…
Revenue currently provides a facility for customers and agents to complete a pre-populated Form 11 for 2010 and Form CT1 for accounting periods ending in 2011. The facility is available in both ROS on-line and ROS off-line applications. In ROS on-line mode the user is given the option to open or reject a pre-populated form….
A number of queries have arisen with regard to the calculation of the Amount for 2011 Preliminary Tax (PT) that appears on the 2010 Notice of Assessment. The adjustment for the Amount for 2011 Preliminary Tax is to replace the amount of income levy and the health contribution due on the 2010 income with the…
The list of those failing to file tax returns is out – this time for cases decided between April and June 2011. Click the link for more information http://www.revenue.ie/en/press/2011/pr-160911-defaulters.html If you want to avoid heavy penalties and interest and publication on this list contact us today. We can promise a swift and cost effective service…
Admissions to cultural, artistic, sporting, scientific, educational, entertainment or similar events – changes effective from 1 January 2011. 1. General Further changes relating to the VAT treatment of cultural, artistic, sporting, scientific, educational, entertainment or similar services came into effect on 1 January 2011. These are a continuation of VAT changes in the place of…
The purpose of this eBrief is to clarify for employers and payroll practitioners how employer contributions to an employee’s Personal Retirement Savings Account (PRSA) are to be treated for Income Tax, PRSI and USC purposes. Benefit-in-kind (BIK) An employer contribution to an employee’s PRSA is treated as a taxable BIK for the employee. However, for…
Finance (No.2) Act 2011 introduced a second reduced VAT rate of 9% to apply in respect of supplies of certain goods and services for the period 1 July 2011 to 31 December 2013. The 9% rate applies to certain goods and services previously liable at the 13.5% rate, including restaurant and catering services; hotel and…
As part of the Minister for Finances drive to increase employment, from 1st July 2011 the rate of employers PRSI will be cut in half. The current rate is 8.5% on gross wages. This will apply to gross wages only up to €356.00 per week. This effects employer pay costs only and not employees and…
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