Dividend Withholding Tax Exemption

Dividend Withholding Tax Exemption

Where an Irish resident company pays a dividend, it should consider any Dividend Withholding Tax (DWT) implications which may arise. The basic principle is that DWT must be deducted at the time the distribution is being made unless the company has satisfied itself that the recipient is a non-liable person and is entitled to receive the distribution without deduction of DWT. Companies must withhold DWT at the standard rate of tax for the year in which the distribution is made, currently 20%. It must be paid to the Revenue Commissioners by the 14th of the month […]


Revenue have recently begun writing to self-assessed taxpayers to make sure they are aware of how to correct any errors that have been made in, or any omissions from, any tax return they have filed. You will be aware that Revenue carries out a range of checks to ensure that returns are filed and are correct. If you are concerned that you may need to correct a tax return, it is important for you to know that there are significant advantages available, if you make any necessary corrections before Revenue contacts you. By doing this, you […]

Retain Audit Exemption By District Court Application

Comapnies Act 2014

The Companies Act 2014 will allow a District Court application for companies that have missed the filing deadline for filing the annual return and financial statements. This will eliminate the need to pay late filing penalties and for most companies retain audit exemption. The company can make an application to the District Court seeking an order extending the time for filing the annual return and the financial statements. If granted by the Court, the company must file the order with the CRO within 28 days and then file the annual return and the financial statements with […]

Stay Positive

I vow to stay positive in the face of negativity; When I am surrounded by pessimism, I will choose optimism; When I feel fear, I will choose faith; When I want to hate, I will choose love; When I want to be bitter, I will choose to get better; When I experience a challenge, I will look for an opportunity to learn and grow; When I experience a setback, I will be resilient; When I meet failure, I will fail forward, toward future success; With vision, hope, and faith, I will never give up and will always move […]

How to Apply VAT Reverse Charge

Where a business provides goods /  services to a VAT registered customer in another EU Member State, to avoid charging VAT the business must ascertain the VAT number of the customer. That VAT number together with an indication that the reverse charge applies must be included on the relevant invoice issued by the business along with the company’s own VAT Number and the usual information. Vat is charged at Zero %. The following sample wording might be useful: Reverse VAT charge applies in accordance with the Fourth Schedule to the VAT Act 1972 as amended. Customer […]

Requirements For a Branch For a Company Registered in an EU-Country

1. SET UP A. FORM F12 A Form F12 must be completed and filed with the Companies RegistrationOffice with a filing fee of €60. This form must be submitted along with: A copy of the certificate of incorporation. A copy of any certificates of incorporation on any name changes of the company. A copy of the last set of financial statements submitted to the overseasCompanies House for the parent company. A certified and translated (if necessary) copy of the Memorandum and Articles of Association of the company. The documents to be certified as true within the […]

A few jokes

Joke: What does an accountant say when boarding a train? ‘Mind the GAAP’. Joke: Why was the accountant in rehab? Solvency abuse. Joke: What’s an accountant’s favourite book? 50 Shades of Grey. Joke: What’s grey and not there? An accountant on vacation. Joke : Have you heard the joke about the interesting accountant? No. Me neither. Joke: What did the accountant do to liven up the office party? Not show up. Joke: “Doctor, doctor, I’ve taken the medicine you prescribed but it’s not working. What should I do?” “Try using your calculator.” “How will that help?” “I’m not sure, but it’s something you […]

14 Things to ask your accountant NOW!

Can you give me good ideas on how to improve my cash flow? Can you establish my breakeven point so that I have more financial awareness? Can you create an improvement action plan? What are the key profit drivers in my business? Can you advise on pricing strategies to increase my profitability? Can you provide cash flow forecasts so that I do not get into financial difficulties? What sales improvement ideas do you have that I can act on to increase sales? How do I reduce my tax bills to the minimum legal requirement? What do […]

Consumer Psychology and Pricing

You should be aware of the following pricing effects and apply them to your own business or be aware of them when you are next a customer. Thomas Nagle and Reed Holden in their book The Strategy and Tactics of Pricing detail nine factors that influence how a consumer perceives a given price and how price-sensitive they are with different purchasing decisions. They are:   Reference Price Effect A buyer’s price sensitivity for a given product increases the higher the product’s price relative to perceived alternatives. Difficult Comparison Effect Buyers are less sensitive to the price of a […]

Growth Drivers and Your Business

If you wish to grow your business you need to understand what your main growth drivers are and how they will impact on your business. The following brief note concentrates simply on 6 key growth drivers to land more business rather than the profit or cash flow consequences of this. Bear in mind that “turnover is vanity, profit is sanity, while cash is reality”. Get your customers to buy more from you. The easiest way to increase your sales is simply to sell more to your existing customers. They are already in a buying relationship and […]

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