Tax Free Expenditure 

• Donations to approved charities (with receipts)
• Employer’s contributions to social insurance and approved funds on employees’ salaries
• Expenditure incurred for the acquisition of shares in an innovative business (new measure)
• Overseas permanent establishment profits abroad under certain conditions
• Telephone expenditure (landline and mobile) incurred for business use
• Commercial vehicles expenditure and their repairs

• Entertainment expenses

The lower of €17.086 or 1% of the gross income of the business.

• Employees

Payments to employees for which social insurances have not been paid are not allowable for tax purposes.

• Casual Labour

Is always scrutinized by the Income Tax Office.

• Collection of Expense Invoices

Expense invoices incurred for business purposes reduce your Corporation Tax payable.

• Deemed Dividend Tax

Don’t forget that at the year-end profitable companies have to pay corporation tax & deemed dividend tax.

• Bad Debts

VAT paid on bad debts can be recovered

• Netting Off Taxes

Don’t forget that you can net off VAT obligations and Corporation Tax refundable against each other and vice versa. 

• Directors of Company

Are personally liable to the VAT authorities for any VAT discrepancies of the company.