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The main corporation tax rates in force for companies at present are
|Passive income - Rental Income, Investment Income etc||25%|
|Capital Gains on most assets||25%|
All Corporation Tax Returns must be filed by the 21st day of the ninth month following the period end. Failure to file on time will lead to surcharges and interest as well as a restriction on use of losses.
In addition all companies are obliged to pay Preliminary Tax on profits (Tax on account for the current period). You should always consult your Tax Advisor in good time.
Effective 1st January 2009 start up trading companies whose liability to Corporation Tax does not exceed €40,000 are exempt from Corporation Tax for the first three years. Various terms & conditions apply.
Directors Tax ReturnsMost Irish Company Directors are obliged to file a Personal Tax Return each year. Failure to file a return on time will lead to a surcharge on the amount of tax due including tax already paid through PAYE.
Tax Assistance will be happy to help and advise on all aspects of Corporation tax & Directors Returns
Read about Self-Employed Tax Returns & Directors Tax Returns.