Ireland

From TurboCASH

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Contents 1 Introduction 2 Contact Territory Agent 3 Official Languages 4 Tax 5 VAT Rates 5.1 VAT Terminology 5.2 Current VAT rates 6 Links to Websites / Sources 7 Localization Progress in TurboCASH 8 Additional Information

Introduction

This page dedicated to the use of TurboCASH in the richest country, per capita, in Europe.

Ireland basically follows the EC, in particular, the British system for accounting.

Contact Territory Agent

Please direct any queries to:

• dunne_j@eircom.net
• philip@pinksoft.co.za

Official Languages

The language codes, followed by the country code, are as follows:

• en-ie - English Ireland
• ga-ie - Gaeilge (Irish) Ireland

Tax

Tax	Based on
Income Tax
Capital Gains Tax
Capital Acquisitions Tax
Corporation Tax
Interest Tax	Interest Income
Road tax	Rates based on Vehicle Weight	Vehicle tax	Fixed Fee
Stamp Duties
Pay-Related Social Insurance (PRSI)
Social Security Contributions	Gross Salaries
Value Added Tax (VAT)	21.5% (Standard Rate) 0% (Zero Rate) 4.8% (Flat Rate) 13.5% (Low Rate)

VAT Rates

VAT Terminology

• Irish - CBL (Cáin Bhreisluacha)
• English - VAT (Value Added Tax)

Current VAT rates

The VAT rates at 2007 are:

1. 0% (Zero Rate) - The goods and services chargeable to VAT at 0%.
2. 4.8% (Flat Rate).
3. 13.5% (Low Rate).
4. 21.5% (Standard Rate). This rate applies to goods and services that are not exempt, or specifically liable at 0%, 4.8%, or 13.5%.

Links to Websites / Sources

• Ireland on Wikipedia
• Irish Language on Wikipedia
• Government of Ireland website
• Value-Added Tax / 2009 / Summary
• Value-Added Tax / 2008 / Summary
• Value-Added Tax / 2007 / Summary
• Value-Added Tax / 2006 / Summary
• Tax World - Irish Tax Information Online
• BASIS - Business Access to State Information & Services
• Institute of Chartered Accountants in Ireland on the Wikipedia
• Institute of Chartered Accountants in Ireland

Localization Progress in TurboCASH

Charts of Accounts in TurboCASH : EXAMPLE-IE

A set of books that will self extract to \tcash3\EXAMPLE-IE has been created and can be downloaded from here - EXAMPLE-IE

1. Year end of 31 December
2. Correct terminology for Salary Tax
3. Correct VAT Rates

The Chart of Accounts is based on the Default English Language of TurboCASH. The following Tax accounts (VAT - accounts) are included in the EXAMPLE-IE Chart of Accounts:

G950	VAT CONTROL ACCOUNT
T950001	Output VAT Standard	21%
T950005	Output VAT Reduced 1	13.5%
T950007	Output VAT Reduced 2	5.2% (Changed from 4.8% to 5.2% from 2007)
T950010	Input VAT Standard	21%
T950015	Input VAT Reduced 1	13.5%
T950017	Input VAT Reduced 2	5.2% (Changed from 4.8% to 5.2% from 2007)
T950020	Zero Rated (0%)	0%
G950100	VAT PAYMENT ACCOUNT

Zero Rated Tax Code is added to the Chart of Accounts. VAT Rates may have changed since 2006. Changed from 4.8% to 5.2% from 2007

The following have been updated in the Chart of Accounts for TurboCASH4: Zero Rated Tax Code is added to the Chart of Accounts. Input VAT Reduced 2 Changed from 4.8% tp 5.2% from 2007 NIC Payable have been changed to PRSI

Additional Information

If you are an Irish Accountant of have information that you can add to our efforts, please put it here.