Finance (No.2) Act 2011

The Finance (No.2) Act 2011 was signed into law on 22 June and provides the legislation for the introduction of the levy on pension schemes announced in the Jobs Initiative. Key Points: Government Pension Levy Levy of 0.6% on the market value of assets under management, to raise €470 million per year. The legislation specifically [...]

By |2011-06-27T18:40:53+01:00June 27th, 2011|Finace Act, Finance (No.2) Act 2011, Recent, Revenue|

Pensions Levy

On Tuesday 10th May 2011, the Minister for Finance announced the introduction of a new tax. It is called a Pension Levy and will be applied on Private Pension Scheme assets. It was included in the government’s announcement on a Jobs Initiative.The Levy applies to pension scheme assets in the Private Sector only. It is [...]

By |2011-05-22T18:19:51+01:00May 22nd, 2011|Recent, Revenue|

Jobs Inititative

0.6% levy on private pension funds: Intended to raise €470m a year, payable in two tranches. It will operate for four years, and will raise €1.88bn overall. It will not apply to non-residents or to funds already in wind-up before 10 May, 2011.Air travel tax to be reduced to zero: This measure is taken provided [...]

By |2011-05-22T18:17:29+01:00May 22nd, 2011|Revenue|