agw

agw
Corporation Tax Rates   back to taxes
   
Standard Rate on Trading Income* 12.5% from 1 January 2003
Investment/Rental Income 25%
Manufacturing Rate 10% (Relief expires 31 December 2010)
*Special rates apply to dealings in land  

Small Companies

A small company is a company whose Corporation Tax liability in the preceding accounting period does not exceed €200,000. Such a company has the option of basing its preliminary tax on the corresponding Corporation Tax liability for the preceding accounting period.

Preliminary tax of at least 90% of the liability for the period or 100% of previous year’s liability is due one month (by the 21st day of that month) before the end of the accounting period.

Other Companies
Preliminary Tax for an accounting period commencing before 14th October 2008 of at least 90% of the liability for the period is due one month (by the 21st day of that month) before the end of the accounting period.

In respect of accounting periods commencing after 14th October 2008 preliminary tax is due in two instalments.

The first instalment will be payable in the sixth month of the accounting period (by the 21st/23rd day of that month) and the amount payable will be 50% of corporation tax liability in the preceding accounting period of 45% of corporation tax liability for the current accounting period.

The second instalment will be payable (as before) in the eleventh month (by the 21st/23rd  day of that month) of the accounting period and the amount payable will bring the total preliminary tax paid to 90% of the corporation tax liability for the current accounting period.

The final balance is payable at the Return filing date i.e. 21st/23rd day of the ninth month following the end of the accounting period.

New or Start-Up Companies
New or start-up companies with a Corporation Tax liability of €200,000 or less for their first accounting period will not be required to pay Preliminary Tax in respect of that first accounting period and will instead be required to pay their final Corporation Tax liability for that accounting period at the same time as they are required to submit their Corporation Tax return, i.e. within nine months after the year end of the accounting period, subject to the 21/23 day rule.