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Category: Taxation

Covid-19 related VAT & PAYE/PRSI tax debts

Covid-19 related VAT & PAYE/PRSI tax debts

Covid-19 related VAT & PAYE/PRSI tax debts a) COVID-19 related VAT and Payroll tax debts, due from 1 March 2020 to the date when sectoral restrictions are lifted, will be parked for a period of 12 months b) no interest will accrue on the tax debts during the 12 month period c) thereafter, the COVID-19…

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Is the wage subsidy taxable on employees ?

Is the wage subsidy taxable on employees ?

Is the covid wage subsidy taxable on employees ? The payments are liable to income tax; however, the subsidy is not taxable in real-time through the PAYE system during the period of the Subsidy scheme. Instead the employee will be liable for tax on the subsidy amount paid to them by their employer by way…

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Temporary Covid subsidy scheme

Temporary Covid subsidy scheme

Who is an eligible employee for the temporary covid subsidy scheme? An eligible employee is someone who their employer cannot afford to fully pay because of the COVID-19 crisis who is being kept on the books of the employer. The employee must be on the payroll on 29 February 2020 and the employer must, between…

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