Tag Archive: Finance Act

May 23

Budget 2011

The below is a brief synopsis of the details of the Brian Lenihans 2011 Budget. For a more comprehensive look at the Budget Click Here.   No change to 12.5% corporation tax rate. Accelerated capital allowances scheme for energy efficient equipment timeframe to be extended. Replacement of Income Levy and Health Levy with a single …

Continue reading »

May 22

Pensions Levy

On Tuesday 10th May 2011, the Minister for Finance announced the introduction of a new tax. It is called a Pension Levy and will be applied on Private Pension Scheme assets. It was included in the government’s announcement on a Jobs Initiative.The Levy applies to pension scheme assets in the Private Sector only. It is …

Continue reading »

May 22

Jobs Inititative

0.6% levy on private pension funds: Intended to raise €470m a year, payable in two tranches. It will operate for four years, and will raise €1.88bn overall. It will not apply to non-residents or to funds already in wind-up before 10 May, 2011.Air travel tax to be reduced to zero: This measure is taken provided …

Continue reading »