Ireland Country Guide 2021

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The measures have been acquainted to help the payers of tax during the COVID-19 pandemic. The Irish tax rules are found in a bunch of statutes that have been passed by the Irish Parliament.

The key rules are the:

  • Taxes Consolidation Act 1997 as amended (TCA) which united the law concerning income tax, capital gain tax (CGT) and corporation tax
  • Capital Acquisitions Tax Consolidation Act 2003 as amended (CATCA 2003), dealing with tax on gifts and inheritances
  • Value-Added Tax Consolidation Act 2010 as amended (VAT Act), dealing with VAT (a sales tax) in respect of goods and services
  • Stamp Duties Consolidation Act 1999 as amended (Stamp Act), dealing with the levying of stamp duty or transfer duty on specific instruments and transactions
  • Social Welfare (Consolidation) Act 2005 as amended (Social Welfare Act), providing for Pay-Related Social Insurance (PRSI) charges

These Acts are modified and refreshed every year to reflect Finance Act  legislative revisions. Also, as Ireland is a common law jurisdiction, he precedent of case law fundamentally affects the Irish tax code.

The European Union (EU) additionally addresses a significant source of tax law in Ireland. As of late, Court of First Instance (CFI) and European Court of Justice (ECJ) decisions have become progressively powerful. EU law is likewise critical in the area of VAT. While the exact use of VAT is chosen by national tax authorities, the general VAT framework depends on EU mandates.

Furthermore, certain components of the Organization for Economic Cooperation and Development (OECD) Base Erosion and Profit Shifting (BEPS) project are currently being carried out through supranational measures, with an inclusion of Multilateral Convention of OECD and the Anti-Tax Avoidance Directives of EU, the two of which will affect Irish duty law.

The Office of the Revenue Commissioners (Irish Revenue) is answerable for the collection, assessment and the management of taxes and obligations; and an implementation of import and export controls. The Department of Finance is answerable for deciding tax collection strategy. Nonetheless, Irish Revenue can give strategy on tax collection issues to the Department of Finance.