Employer Job (PRSI) Incentive
A recent Revenue exemption may enable tax savings for the employer.
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How the Foreign Earnings Deduction can benefit executives and companies
2012 saw the re-introduction of a restricted Foreign Earnings Deduction (FED). This relief allows employees working overseas in 28 countries to make a claim for a refund of Irish tax, if certain conditions are met
The relief was initially allowed for the BRICS Countries (Brazil, Russia, India, China and South Africa) and was extended to other territories, in 2013 and again in 2015.
This welcome move provides an incentive for employees to work overseas in these jurisdictions at a time when Irish businesses are expanding abroad.