INCOME TAX
There were no changes to the Income Tax rates.
The exemption limits, tax credits and standard rate bands applicable for the year 2023 are set out in detail under the Personal Tax Facts section.
Any changes that have been made to the rates and bands for the USC are set out in detail under the Personal Tax Facts section.
TAX CREDITS/BANDS
The standard tax band is being increased by €3,200 per person.
The Minister has increased the Personal Tax Credit , Employee Tax Credit and the Earned Income Credit by €75.
The Home Carer Tax Credit is also increasing by €100.
HELP TO BUY SCHEME
The Scheme is being continued at the current rates until the end of 2024.
RENTAL TAX CREDIT
A new tax credit of €500 per year has been introduced for those taxpayers who are paying rent on their principle private residence and who do not get any other housing support. This credit will apply for 2023 and subsequent years but may also be claimed in respect of paid rent in 2022.
FOREIGN EARNING DEDUCTION
Foreign Earnings Deduction has been extended to 31 December 2025.
SPECIAL ASSIGNEE RELIEF PROGRAM (SARP)
SARP has been extended to 31 December 2025 with the minimum income limited for new entrants increasing to €100,00.
KEY EMPLOYEE ENGAGEMENT PROGRAM (KEEP)
KEEP has been extended to 31 December 2025, facilitating the buy-back of KEEP shares by the issuing company and increasing the company limit to €6 million.
