Types of Taxes

The different kinds of tax in Ireland :)

Pay As You Earn (PAYE)

A tax that varies according to the amount of money you earn. The tax is collected from your employer and sent to Revenue. Tax credits are always taken away from this tax. Also known as income tax.

Self-assessed income tax

People who are self employed pay this tax. They calculate and make the relevant tax payment themselves. They are subject to checks by revenue known as tax audits.

Universal Social Charge (USC)

Incomes over a certain amount are subject to this tax in addition to income tax.

Value-Added Tax (VAT)

A tax on goods and services.

Customs duties

A tax on goods imported from outside the EU. Eg. buying a dress from a website based in China.

Excise duty

A tax charged on products which pose either a health, environmental or social risk, eg. cigarettes, petrol, gambling.

Local Property Tax

Tax on property you own. The rate depends on the value of the property.

Stamp duty

Tax paid on legal documents, eg. when you buy a house, cheques, and debit/credit cards.

Motor tax

Compulsory tax for all owners of motor vehicles. Rates depend on size of engine.

Vehicle Registration Tax (VRT)

Must be paid when registering a car in Ireland.

Deposit Interest Retention Tax (DIRT)

A tax on the interest gained from savings. Deducted at source by financial institutions.

Capital Gains Tax

Tax on profits earned from the sale of assets such as property other than your own private house.

Capital Acquisitions Tax

Tax on money you are given, eg inheritance.