Ireland Budget 2017

Ireland's Budget 2017 was announced by the Minister for Finance on 11 October 2016. Much of the content was well flagged in advance and the overall theme of the Budget was that of prudence. Brexit featured prominently and measures were announced to address the economic risks and potential opportunities for Ireland as a result of the UK’s decision to leave the EU. The tax measures announced were relatively modest and are mainly in the area of personal taxes with some targeted measures proposed for certain business sectors. The Minister once again took the opportunity to reaffirm Ireland’s commitment to its 12.5% corporation tax rate and to meeting international tax standards while also delivering certainty for businesses and maintaining Ireland’s competitiveness.

This advisory is a summary of the measures announced in key sectors that are relevant to our clients as well as personal tax measures which may be relevant generally. Further details and measures will be contained in the Finance Bill which is due to be published on or around 20 October 2016.

 

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