TaxSource Total

Here you can access relevant source documents which support the summaries of key tax developments in Ireland, the UK and internationally

Source documents include:

  • Chartered Accountants Ireland’s representations and submissions
  • published documents by the Irish Revenue, UK HMRC, EU Commission and OECD
  • other government documents

The source documents are displayed per year, per month, by jurisdiction and by title

Revenue e-Brief No. 51/2006

Preliminary Corporation Tax

Following representations from the Small Firms Association (IBEC), the Institute of Chartered Accountants in Ireland and the Irish Taxation Institute, Revenue recommended to the Minister for Finance that, from Budget Day, small start-up companies would be relieved of the obligation to make a preliminary corporation tax payment in respect of their first accounting period. The Minister announced such a provision in his Budget speech last Wednesday.

Although we have received only a handful of enquiries from companies on this matter since e-Brief 43/2006 issued on 20/11/06, Revenue has decided in light of the Budget announcement that, where they have not paid preliminary tax that fell due before Budget Day, companies whose corporation tax liability for their first accounting period does not exceed €50,000 may pay that liability on the basis of the Budget announcement.