Start-Up Companies: Preliminary Tax Announcement
The Revenue issued eBrief No. 51/2006 on 8 December advising that start-up companies which did not pay preliminary tax that fell due before Budget Day may base their preliminary tax payments on the Budget announcement.
ICAI had lobbied extensively on behalf of members on this issue and welcomed the announcement. It relates to start-up companies with a total tax liability for their first accounting period which does not exceed €50,000. The full eBrief is reproduced at Section 2.03.