
Foreign businessmen who want to
open a company in Ireland are required to register for
taxation purposes. One of the requirements in this sense is to comply with the
Pay As You Earn (PAYE) system. Foreign investors interested in
Irish company formation should know that the
PAYE system is available for
employers performing business activities in the country
and that it is related to the
salary payments. The
PAYE refers to the
income tax applicable to
salaries obtained in Ireland. Businessmen can find out further details on the registration requirements from
our team of Irish company formation representatives.
Register for PAYE purposes in Ireland
The
PAYE system is a compulsory requirement for the businessmen interested in
company registration in Ireland. Once the
company hires
employees, the investor will have to
register for PAYE purposes.
It is important to know that it is compulsory to register for PAYE when the employer makes payments above the following values:
• EUR 2 per week, in the case of employees who are also hired in other companies.
Still, it is necessary to know that all
companies in Ireland are required to
register for PAYE at the
Irish Revenue, even in the situation in which the
company does not have any
employees.
PAYE Anytime in Ireland
Employers in Ireland can access the online platform available at the
Irish Revenue in order to manage their
employment-related taxes. The service is called
PAYE Anytime, and it can provide a secure environment for the businessmen who must pay
taxes in Ireland.
The Irish company formation procedure stipulates a set of taxes that have to be paid after the company starts operating on the local market.
Businessmen interested in the procedure of
company formation in Ireland can notify the
Irish Revenue on the
company’s incorporation once the
legal entity was registered with the
Companies Registration Office.
Please note that the
tax registration is performed according with the
tax residency of the company.
Companies registered in Ireland must submit the
Form TR2, while
foreign companies operating in
Ireland are required to submit the
Form TR2 (FT).