Corporation Tax
Tax Allowances of Legal Entities
| Interest not arising from the ordinary activities or closely related to the ordinary activities of the company |
100% |
| Dividends |
100% |
| Gain on sale of shares |
100% |
| Profits from a permanent establishment overseas (under presumption) |
100% |
Corporate Tax Losses
- Tax losses from the year 1997 and onwards are carried forward and are being offset against profits of future years without any restrictions.
Deductible Expenditure of Legal Entities
| Employer's contributions to approved funds |
100% |
| Expenditure incurred wholly and exclusively for the purpose of generating income |
100% |
| Donations and subscriptions with receipts to approved charitable Organisations |
100% |
| Entertainment expenditure |
1 % of gross income and restricted to the maximum of €17.086 |
| Expenditure incurred for the maintenance of a building in respect of which there is in force a Preservation Order |
Up to €342, €513 or €598 per square meter (depending on the size of the building) |
Reorganisations
Transfers of assets and liabilities between companies can be effected without tax consequences within the framework of a reorganisation and tax losses can be carried forward by the receiving entity.
Reorganisations include:
- mergers
- demergers
- partial divisions
- transfer of assets
- exchange of shares
- transfer of registered office
Wear & Tear Allowances
| |
Annual wear & tear rates
% |
| Buildings |
|
| Industrial Buildings |
4 |
| Agricultural Buildings |
4 |
| Hotel Buildings |
4 |
| Commercial buildings and flats |
3 |
| Metallic greenhouse structures |
10 |
| Wooden greenhouse structures |
33 1/3 |
| Plant and machinery |
|
| Plant and machinery |
10 |
| Furniture and fittings |
10 |
| Agricultural and farming businesses machinery and tools |
15 |
| Computer hardware and operating software |
20 |
| Application software: |
|
- Up to €1.709
|
100 |
- Above €1.709
|
33 1/3 |
Lifts, excavators, towing machine, cranes, bulldozers |
25 |
| Commercial motor vehicles (other than saloon cars) and motorbikes |
20 |
| Tools |
|
| Tools in general |
33 1/3 |
| Videotapes property of video clubs |
50 |
| Boats |
|
| New cargo boats |
8 |
| New passenger boats |
6 |
| Streamers, tugs and fishing boats |
6 |
| Sailing vessels |
4 1/2 |
| Boat launchers |
12 1/2 |
| Second hand cargo/passenger resells |
Remaining Useful life |
