Questions and Answers
Will the corporate tax change affect my business?
I run a business with an annual turnover of 2 million. Will the change in the corporate tax rate affect me?
For small and medium sized businesses in Ireland the corporate tax rate will not change. In Budget 2022 there is a commitment to keep the 12.5% rate intact for the SME sector.
However, for any companies with annual turnover in excess of €750m, the 12.5% corporate tax rate will be increased to 15%. This will happen from 01 January 2023 at the earliest.
Date published 13 Oct 2021
This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.
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