Search Results for 'Taxation'

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Lack of new thinking by government in budget - IBEC

IBEC, the group that represents Irish business, has stated that the Government has relied too heavily on increasing tax in Budget 2012, rather than reducing current expenditure. The group welcomed specific measures aimed at supporting R&D and financial services, attracting mobile talent and restoring normal activity to the property market, but said the scale of these positive measures was small when compared to the very negative effect of the €90 million increase in employer PRSI charges and the major reduction in the redundancy rebate, announced yesterday. The total cost of Budget 2012 to business will be in the region of €400 million.

Budget 2012 - exceptional times, exceptional Budget?

Budget 2012 is unique in that the proposed expenditure cuts were announced a day ahead of the tax changes and also many of its provisions were well flagged ahead of Budget Day. The financial adjustment was set at €3.8bn with €2.2bn coming from expenditure cuts and €1.6bn coming from increased taxation. Despite all the advance leaks and speculation the Minister managed to keep a number of the changes secret until the Budget Speech especially in the area of incentives to business and measures to kick start the property market.

Budget 2012 – A summary of the main provisions

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Over recent weeks, there has been much speculation on the provisions to be announced in Budget 2012. The anticipation was heightened by the “State of the Nation” address by An Taoiseach Enda Kenny on Sunday night. In an unprecedented move, Minister Howlin and Minister Noonan shared the burden and spread their respective speeches over two days. Some of the main features introduced in the 2012 Budget are set out below:

Reduce your 2010 Tax bill before November deadline

Self-assessed people (including sole traders, partners, proprietary directors, PAYE employees with rental income etc.) have to make a return of income by the end of october (or mid November if filed online). Worse again they must also pay all outstanding taxes due for 2010 and a corresponding amount for 2011 in many cases to prevent nasty fines. To avoid the severest of haircuts Numbercruncher advises the following no-brainer tips to save you money.

Reduce your 2010 tax bill before November deadline

Self-assessed people (including sole traders, partners, proprietary directors, PAYE employees with rental income etc.) have to make a return of income by the end of this month (or mid November if filed online). Worse again they must also pay all outstanding taxes due for 2010 and a corresponding amount for 2011 in many cases to prevent nasty fines. To avoid the severest of haircuts Numbercruncher advises the following no-brainer tips to save you money.

Annual VAT Recovery Rate Adjustment

Most companies only ever look at the VAT treatment of supplies. Often companies forget to look at the potential to recover more VAT on costs and almost never consider whether they have recovered too much VAT on costs.

New Reduced VAT rate due to start from next week

As part of the Jobs Initiative outlined by the new Government earlier this year, a second reduced VAT rate of nine per cent is to be introduced from  July 1 2011 to December 31 2013 to help the economy grow and increase job creation, especially in the tourism sector.  

Westmeath people amongst the worst for reclaiming tax

Would you give our politicians €550 out of your pocket? Well millions of euro go unclaimed every year by the Irish public primarily due to an apathetic outlook or lack of awareness of entitlements. They are losing out substantially when compared with their more proactive citizens who are claiming back an average of €550 in tax entitlements. So who are these savvy go getters? This question was asked and answered by tax specialists www.taxback.com who have released the results of their taxback index which takes a look over the last half decade to see who has been chasing the Revenue for what they are owed and while it may be a widely held view that women are more prudent with cash – the results would present a good counter argument.

Mayo people urged to reclaim their tax

Millions of euro go unclaimed every year by the Irish public primarily due to an apathetic outlook or lack of awareness of entitlements. They are losing out hugely when compared with their more proactive citizens who are claiming back an average of €550 in tax entitlements, according to tax specialist www.taxback.com which has just released the results of its TaxBack index which takes a look over the last half decade to see who has been chasing the Revenue for what he/she is owed.

The much heralded Budget 2011

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Income Tax

 

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