Company Tax Returns In Ireland

If you are running a business in Ireland, it is important to understand the tax requirements and deadlines. Here are some key points to keep in mind when filing your company tax returns in Ireland:

What counts as income?

Any payment received by a blogger or influencer from operating a blog, including payments for sponsored content and banner adverts, counts as income and must be declared for tax purposes.

When are tax returns due?

The deadline for self-assessed tax returns in Ireland is October 31st. It is important to file your tax returns on time to avoid penalties and interest charges.

Which tax return to file?

The correct tax return to file depends on your level of income. Sole proprietors and single-member LLCs should file Schedule C for income and expenses, attached to personal income tax return. Multi-member LLCs and partnerships should file Form 1065. C corporations should file Form 1120, and S corporations should file Form 1120-S.

Exemptions

Directors of dormant companies and directors of companies in which they own 15% or less of the share capital are excluded from being chargeable persons.

Double taxation agreement

If you are not a resident in Ireland for tax and Ireland has a double taxation agreement with the country you are resident in, you may claim a refund of some or all of the Deposit Interest Retention Tax (DIRT) that you paid.

Conclusion

Filing your company tax returns in Ireland can be a complex process, but it is important to stay on top of your tax obligations to avoid penalties and interest charges. Keep accurate records of your income and expenses, and file your tax returns on time to ensure compliance with Irish tax laws.