some questions

gyaala

Just looking for answers to these questions:

1. I know that Private Limted Company has to register for VAT immediately after registrating the company, but does it has to start paying VAT in the beginning or after the certain amount of turnover? If there is some kind of amount, what`s the amount ?

2. Is there some kind of tax that company has to pay when there is a payable worker working for company ? Is it different if there are working 2 or even 3 workers or more ? What then if there are only 3 directors of company working for company and no more other workers at all ?

3. Do I have to pay the same percent from dividends than from the other income to the government (20% or at the worst case 42%) ?

thanks,

gyaala

Newaglish

Not entirely sure, but I'd hazard a guess that a Plc. makes VAT returns on a bi-monthly basis, although it's possible to do it every 6 months or annually I think.

Not sure what your second question means :P

And if it's dividens received you're talking about, any Irish company pays no tax on dividends received from another Irish company. I don't think you pay Irish tax on UK dividends either as you pay 15% to the Uk (I think!), and then for other countries it gets more complicated

Victor

1. You only have to register for VAT when your turnover hits €20,000-€50,000 per year. See www.revenue.ie

2. Directors are AFAIK treated as employees. The employer is responsible for collecting PRSI (including employers) and PAYE and forwarding it to the revenue.

3. Profits are charged corporation tax @ 12.5%. Dividends are subject to a withholding tax of 20% if paid to non-company.

---

A (private) Limited Company is a "Ltd"

A Public Limited Company is a "PLC"

gyaala

Well... does the company has to register as employer and pay employers` PRSI plus directors has to pay employee`s PRSI as well ?
(Overview of Rates - Class A. The total rate of PRSI in these sectors consists of Employee PRSI of 6% and Employer PRSI of 10.75%).

gyaala

Victor

gyaala wrote:

Well... does the company has to register as employer and pay employers` PRSI plus directors has to pay employee`s PRSI as well ?

If you are paying people money, you will need to register.

Employers pay employers PRSI. Employees pay employees PRSI. Employers collect it all.

For low earnings there are reduced percentages.

gyaala

What the best thing to do if there are 3 people working in Private Limited Company. All these people are the owners of this company and directors as well, there are no other employees. Could these people all pay employees PRSI or there has to be even one employer as well ?

gyaala

Nuttzz

owner directors can apply for prsi class S, the company then doesnt have to pay employer prsi for them, however the number of benefits available to them is also greatly reduced.


You must register for VAT if you are a taxable person and your annual turnover (i.e. the amount of your receipts excluding VAT) exceeds or is likely to exceed the following annual limits


€51,000 in respect of the supply of goods
€25,500 in respect of the supply of services

gyaala

There is still one more question about VAT

The plan is to transport goods from other Member States. If I provide the companys of other Member States with my VAT number they may not charge VAT when I`m buying goods. Well ... There seems to be no other way, I do have to registrate for VAT in the beginning while there is a little turnover for getting the VAT number or is there some kind of other solution ?

gyaala

Nuttzz

if you are importing from the eu you need to supply the exporter with your vat number for them not to charge you vat. so you will need to register for vat it seems