Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 15 OCTOBER 2020

Budget 2021 – Tax Highlights

Walkers
Walkers
Contributor
Walkers

Walkers

Firm Details Global Managing Partner: Ingrid Pierce Office Managing Partner: Daniel Wood Number of...

View firm profile
Explore more from Walkers

Ireland's Budget 2021 was presented today against the backdrop of the Covid-19 pandemic and the very real possibility of a no trade deal Brexit between the EU and the UK.

IrelandTax
Aisling Burke
Aisling Burke
Jonathan Sheehan
Jonathan Sheehan
Eimear Burbridge
Eimear Burbridge
Niamh Pender
Niamh Pender
Author LinkedIn connections

"If we winter this one out, we can summer anywhere" - Seamus Heaney

The Minister for Finance, Paschal Donohoe, quoted this to conclude a budget speech delivered against the backdrop of the Covid-19 pandemic and the very real possibility of a no trade deal Brexit between the UK and the EU. While public expenditure was the focus of the largest budget in Ireland's history, we highlight below a number of tax measures announced today of interest to the international business sector.

Key highlights include:

Reliefs for sectors significantly impacted by Covid-19

  • A Covid Restrictions Support Scheme will be introduced to provide payments (up to a maximum weekly payment of EUR5,000) to certain businesses whose trade has been significantly adversely impacted as a result of Covid-19 restrictions. The scheme will operate until 31 March 2021 and payments will take the form of an advanced credit for tax deductible trading expenses.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Irish Budget 2027: Key Tax Measures For The Financial Services Industry

Ireland's Budget 2027 introduces a lower exit tax rate for fund investors, clearer rules for Irish ETFs, and a new Retail Investment Account, while leaving the controversial eight-year deemed disposal rule unchanged. The package also includes Pillar Two updates, interest relief reforms, and a capital gains tax reduction, offering targeted refinements for the financial services sector rather than the fundamental reform many had anticipated.
IrelandTax
Dillon Eustace
Dillon Eustace
Article

The DAC Recast – Delivering Meaningful Tax Simplification

The European Commission has proposed consolidating nine separate Directives on Administrative Cooperation into a single recast directive, aiming to simplify the EU's tax information exchange framework while maintaining transparency. However, the proposal faces significant challenges including the incorporation of previously rejected "Unshell" provisions, the requirement for unanimous approval from all 27 Member States, and questions about whether the consolidation will deliver meaningful simplification for
European UnionTax
Matheson
Matheson
Article

Statutory Codification Of Foreign Entity Tax Classification In Ireland

Ireland has introduced Section 1009A of the Taxes Consolidation Act 1997, marking the first time Irish legislation directly addresses the tax transparency of foreign entities. This groundbreaking provision has significant implications for cross-border investment structures involving Irish funds, particularly those utilizing Delaware limited partnerships, U.K. LLPs, and U.S. LLCs, with downstream consequences for Pillar 2 and anti-hybrid mismatch rules.
IrelandTax
Maples Group
Maples Group
Article

Irish Budget 2027 – Implications For Irish And International Investors

The Irish Budget for 2027 (“Budget 2027”) was announced by Minister Simon Harris on 6 October 2026. Budget 2027 contains a number of measures intended to support Ireland’s status as a leading financial and investment jurisdiction in Europe. International investors will welcome the introduction of reforms for the taxation of Irish corporates, the introduction of new rules to accommodate the Pillar Two side-by-side agreement with the US and the extensions to Irish tax provisions for tax credits.
IrelandTax
Maples Group
Maples Group
Article

What The High Court’s New AI Guidance Means For Irish Tax Appeals

Ireland's High Court has issued formal guidance on using generative AI in legal proceedings, requiring human oversight, verification, and disclosure when AI tools are employed in court documents and expert reports. While the directive specifically applies to High Court proceedings, its implications extend to Tax Appeals Commission cases, where expert evidence must remain independent and any substantial use of AI must be declared to ensure reliability and evidential weight.
IrelandTax
Matheson
Matheson
Article

The Future Of Islamic Finance: Insights From IFN UK Forum 2026

Islamic finance is experiencing rapid global expansion, with assets approaching US$6tn and record sukuk issuance attracting non-traditional investors. The convergence of Shariah-compliant and sustainable investing is creating new opportunities, while AAOIFI Standard No. 62 and tokenisation developments are reshaping how Islamic finance structures are designed and implemented across international markets.
United KingdomFinance and Banking
Walkers
Walkers