Budget 2013 - Corporation Tax

3 Year Tax Exemption for Start-up Companies

The 3 year corporate and capital exemption scheme for start-up companies, introduced in 2009 and extended in 2010 has now been further extended to new start-up companies in 2011. However, the scheme is being modified from 2011 so that the value of the relief will be linked to the amount of employers’ PRSI paid by a company in an accounting period subject to a maximum of €5,000 per employee. If the amount of qualifying employers’ PRSI is lower than the reduction in corporation tax liability otherwise applicable, relief will be based on the lower amount.

Tax exemption for payment to the National Co-operative Farm Relief Services Limited

The exemption from corporation tax in respect of grants or payments made by the Minister for Agriculture, Fisheries and Food to the National Co-operative Farm Relief Services Limited is being discontinued from 2011, in line with the recommendation in the 2009 Report of the Commission on Taxation.

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