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RCT deduction rate

  • 14-05-2015 9:56pm
    #1
    nujbvi0pwref8c
    Closed Accounts Posts: 71 ✭✭


    hi quick question.

    Principal contractor paying sub-contractor with 0% rate.
    sub contractor is charging €9000, what does principal contractor pay revenue and where does it be declare this?
    thanks


Comments

  • #2
    fred funk }{
    Registered Users, Registered Users 2 Posts: 6,827 ✭✭✭fred funk }{


    If its 0% then nothing is paid to revenue. The principle contractor registeres the job with revenue but if there's nothing paid to revenue then there's nothing to reclaim.


  • #3
    mfceiling
    Registered Users, Registered Users 2 Posts: 12,906 ✭✭✭✭mfceiling


    Zoie Mealy Loiterer wrote: »
    hi quick question.

    Principal contractor paying sub-contractor with 0% rate.
    sub contractor is charging €9000, what does principal contractor pay revenue and where does it be declare this?
    thanks

    You pay nothing to revenue. He is liable to pay tax on the entire amount. You must notify revenue that he's working for you, where the job is, how long the contract is for, the job description and the estimated value of the contract.


  • #4
    nujbvi0pwref8c
    Closed Accounts Posts: 71 ✭✭nujbvi0pwref8c


    thanks for replies, so basically any subcontractor that is 0% no vat is paid by principal contractor or the sub contractor, if the sub was 20% rate the principal would be paying 20% of the €9000?


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