An analysis by William Fry, Taxand Ireland
Ireland has recently announced its budget for 2024, announcing a range of tax cuts and expenditure measures worth €14bn. Despite global uncertainty and high costs, €4bn of the “windfall excess taxes” are earmarked for investment in two new State investment funds – The Infrastructure, Climate and Nature Fund and The Future Ireland Fund.
These measures also aim to address the high cost of living, introduce a 15% minimum global tax rate for large companies in 2024, increase R&D tax credits, and introduce a participation exemption for foreign dividends in 2025. Detailed measures will be in the Finance Bill published on 19 October, 2023.
Sonya Manzor, Brian Duffy and Ted McGrath, of our Irish firm William Fry, have produced a briefing that analyses the budget’s implications for tax across personal, business, property, and financial services.
Read the full briefing here.
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