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 the BRICS countries (Brazil, Russia, India, China and South Africa) to make a claim for a refund of Irish tax, if certain conditions are met.
From 2013 the relief was extended to other territories.
This welcome move re-instates a relief that was much utilised in the past and should serve as an incentive for employees to work overseas in these jurisdictions at a time when Irish businesses are expanding abroad.