WTS in Ireland

Fintech financial services payment processing companies and cryptocurrency companies in particular, face the real challenge of offering attractive remuneration packages that are competitive with the many large multinationals now operating in the local market.

Our summary of R&D Incentives provides guidance where such incentives are provided, and who in WTS Global can support you to gain from these incentives for your business or individually the most.

As there have been some recent changes to the Encashment Tax, our Irish partner Sabios provides an outline of the current position on the operation of the tax.

In Ireland, the period of temporarily reduced VAT rates is coming to an end, but companies may benefit from cash flow advantages due to a “postponed accounting” mechanism for import VAT. 

In the July 2020 stimulus package, the Irish Government announced that the standard rate of Irish VAT will be temporarily reduced from 23% to 21% for the period from 1 September 2020 to 28 February 2021.

Guidelines for VAT registering were updated on June 15, 2019

The Department of Finance has released the 2019 budget statement which has had some effect on various business sectors

Charge is imposed on “taxable persons” who are established in Ireland for VAT purposes