Ireland Tax Rates 2021

Corporate Income Tax:

• The standard corporate income tax rate is 12.5%.
• Certain passive income and income from land and minerals are taxed at 25%.
• Ireland is implementing the OECD's Pillar Two global minimum tax rules, which will bring in a 15% minimum effective tax rate for large multinational groups.

Individual Income Tax:

• Individual income tax rates are progressive.
• Tax rates vary based on income brackets.
• Non-resident individuals are taxed on income sourced in Ireland.
  
  
  

  Value Added Tax (VAT):

  • The standard VAT rate is 23%.
  • Reduced VAT rates of 13.5% and 9% apply to specific goods and services.
  • Specific goods and services may be exempt from VAT.
    
    
    
    
    

    Withholding Tax:

    • Payments to non-residents are subject to withholding tax.
    • Withholding tax rates vary depending on the type of income and applicable Double Taxation Avoidance Agreements (DTAAs).
    • Withholding tax applies to payments like dividends, interest, and royalties.
      
      
      

      Capital Gains Tax (CGT):

      • Capital gains are taxed at a rate of 33%.
      • Specific exemptions and reliefs may apply.
      • Double taxation treaties may affect CGT.
        
        
        

        Stamp Duty:

        • Stamp duty is levied on the transfer of property and shares.
        • Rates vary depending on the type of property and its value.
          
          
          

          Property Tax:

          • Local Property Tax (LPT) is levied on residential properties.
          • Commercial properties are subject to local authority rates.
            
            
            
            
            

            Tax Residency:

            • Tax residency is determined by factors such as the number of days spent in Ireland and the individual's ties to the country.
            • Specific rules apply to determine residency status.
              
              
              

              Double Taxation Avoidance Agreements (DTAAs):

              • Ireland has DTAAs with numerous countries.
              • These agreements aim to prevent double taxation of income.
              • DTAAs may reduce withholding tax rates or provide exemptions.
                
                
                

                Tax Compliance:

                • Taxpayers are required to file tax returns and comply with other tax regulations.
                • Electronic filing is mandatory for many taxpayers.
                  
                  
                  

                  Transfer Pricing:

                  • Transfer pricing regulations apply to transactions between related parties.
                  • These regulations aim to prevent tax evasion.
                    
                    
                    

                    Revenue Commissioners:

                    • The Revenue Commissioners are the Irish tax authority.
                    • It is important to seek professional tax advice specific to your situation.