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Tax treatment of royalty income

  • 18-07-2011 4:32pm
    #1
    HeinekenTicket
    Registered Users, Registered Users 2 Posts: 146 ✭✭


    Could someone please advise on tax treatment of royalties in Ireland? The scenario is as follows:

    Irish VAT-registered company was contracted to write educational textbooks for a UK publisher.

    UK publisher paid an advance on royalties (say €1,000) to the Irish company during the most recent financial year.

    Question 1: Is the advance royalty subject to corporation tax on a cash receipts basis (i.e. notwithstanding that the book is not yet written) or on an accruals basis as the textbooks are sold?

    Question 2: What are the VAT implications of the royalty income (advance royalty and any incremental royalties), if any?

    Many thanks. If anyone has useful links for this topic, I'd also be thankful.


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Specific advice is banned here.

    If you want to know the answers to this hire a professional.

    If you want an overview of how royalty income is treated in Ireland go to www.revenue.ie and put royalty in the search box.

    Similarily there is a guide to VAT in the stickies.

    Thread closed.


This discussion has been closed.
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