Search Results for 'Corporate tax'

In his budget day speech, Minister Michael Noonan recognised the significant role played by the farming and agri-food sector in Ireland’s economic recovery. This important sector employs approximately 169,000 people across the country and its produce is one of Ireland’s top 10 exported commodities.   

Ministers Noonan and Howlin were tasked with reducing the deficit in the country’s finances by €3.5bn in the Budget for 2013.  In their highly anticipated Budget speeches, they emphasised their aim to achieve this in a balanced and fair manner.  This has meant that they have cast the net widely and announced the following measures: 

Q I own a company which owns a rented retail unit worth approx €500,000. I want to give this property to my son but I don’t want him to have to pay cash into the company for it. What are the tax implications of this?

Q I own a company which owns a rented retail unit worth approx €500,000. I want to give this property to my son but I don’t want him to have to pay cash into the company for it. What are the tax implications of this?

Q. My company has incurred significant R&D expenditure during the past few years. The product is now ready to go to market and I hope to be profit-making within two years. Can I claim tax relief for the expenditure incurred to date and how do I claim it? Are there special rules for claiming R&D costs?