Budget 2020 - Employment Related Changes

Posted in : Supplementary Articles ROI on 9 October 2019
Ken Killoran
Mazars

It is, of course, Budget 2020 time and Mazars have kindly written an article for Legal Island readers which sets out the employment-related changes, including the following measures from an employment tax perspective:

Summary list of employment-related changes

  • No change in personal tax rates or bands.
  • The BIK exemption on electric cars is extended to 2022.
  • Special Assignee Relief Programme (SARP) relief and Foreign Earnings Deduction (FED) relief extended to 2022.
  • The Employment and Investment Incentive (“EIIS”) is extended and improved.
  • The Key Employment Engagement Programme (KEEP) has been improved
  • From 1 Jan 2020, Dividend Withholding Tax (DWT) will increase by 5% from 20% to 25%.  Also, a modified DWT rate will be introduced in 2021 by reference to a personalised rate of DWT to each taxpayer aligned to the rate of tax they pay on their PAYE income.
  • From 1 Jan 2020, the employer PRSI higher rate will increase to 11.05%.

For more information, please click on the link below for Mazars Budget Report 2020.

 

This article is correct at 09/10/2019
Disclaimer:

The information in this article is provided as part of Legal-Island's Employment Law Hub. We regret we are not able to respond to requests for specific legal or HR queries and recommend that professional advice is obtained before relying on information supplied anywhere within this article.

Ken Killoran
Mazars

The main content of this article was provided by Ken Killoran. Contact telephone number is +353 1 449 4400 or email kkilloran@mazars.ie

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