Payroll Assist
TEL: 01-8996290      MOB: 086-0630906      EMAIL: info@payrollassist.ie
  • Home
  • Services
  • Budget 2016
    • Budget 2015
    • Budget 2014
    • Budget 2013
    • Budget 2012
  • FAQs
  • Sample Contract
  • Links
  • Forms
  • Contact Us
  • Blog

Govt abolishes employer share pay PRSI

8/24/2011

0 Comments

 
Employers should stop deducting and remitting employer PRSI on share-based remuneration with immediate effect, Minister for Social Protection, Joan Burton, said today.

The previous Government imposed employer and employee PRSI on all share-based remuneration.

As part of this Government's Jobs Initiative announced in May of this year, it was decided to abolish the employer element of PRSI on share-based remuneration entirely.

This decision recognises that this charge on employers needlessly increased the costs of doing business in Ireland and has the potential to negatively affect current employment levels and future investment decisions. As some employers may have continued to deduct employer PRSI on share-based remuneration, it has been agreed, in consultation with the Minister for Finance, to provide this clear indication of the Government's commitment to alleviating the unnecessary costs to employers, Minister Burton said.

As a transitional arrangement the Minister for Finance issued notice on the 18th of March 2011 that the charge to PRSI on share-based remuneration would not apply where it was the subject of a written agreement, entered into between the employer and the employee before 1 January 2011.

"Notwithstanding this notice, the Minister for Finance has now clarified that the employee PRSI charge will apply to all share-based remuneration from the 2012 tax year. Therefore, regardless of when agreements were entered into, from 1 January 2012, the employee PRSI charge will apply in all cases with the exception of shares already held in an Employee Share Ownership Trust before 1 January 2011. This will ensure equity between pre January 2011 written agreements, which award shares on a once-off basis and those of a multi-annual or ongoing nature. By signaling in advance the cessation of this transitional concession, employers will have the opportunity to fulfill any pre-existing commitments in relation to share-based remuneration before the end of 2011," the Minister said.

"To facilitate the refund of PRSI paid on share-based remuneration within the 2011 tax year, it has been agreed with the Office of the Revenue Commissioners that PRSI to be refunded can be offset against current PRSI liabilities through the monthly P30/end of year P35 returns. Such refunds may arise in relation to employer PRSI and to employee PRSI where a written agreement was in place before 1 January 2011. Details of the conditions for and method of availing of the offset of PRSI are provided in a Notice on PRSI Refunds issued by my Department today."

Legislative measures to give effect to these changes will be included in the next Social Welfare Bill.

0 Comments

Paypal New Jobs

8/9/2011

0 Comments

 
Online payments company Paypal today announced 200 new jobs at their base in Blanchardstown. The positions are in customer services, risk operations, sales and account management.
Paypal Europe opened in Dublin in 2003 and employs over 1350 people.

Enterprise Minister Richard Bruton described the announcement as "very welcome".

0 Comments

Poundland New Stores - 180 Jobs

8/2/2011

0 Comments

 
UK based retailer Poundland are to open 6 new stores in Ireland by next March creating 180 jobs. The company says it could open 50 stores in Ireland in the coming years. The company here in Ireland will trade as "Dealz"
0 Comments

Manufacture Sector Activity Drops

8/2/2011

0 Comments

 
Activity in the manufacturing sector has dropped for the second month running
0 Comments

IMF tough on Ireland

8/2/2011

0 Comments

 
The IMF are expecting Micheal Noonan in the coming budget to raise taxes, cut spending and cut publice jobs as part of the bail out however Leo Varadkar says the Government is still committed to not raising income tax levels.
0 Comments

Inflation Slows in Euro Region

8/2/2011

0 Comments

 
Euro region inflation unexpectedly slowed in July although it remains above the  ECBs 2% ceiling for the 8th month running.
0 Comments

Central Bank Revises Economy Downwards

8/2/2011

2 Comments

 
The Central Bank predicts that the economy will expand by 0.8% this year. This is down slightly from its forecast of 0.9% in April.
2 Comments

Easons

8/2/2011

0 Comments

 
Easons are doing their bit for the economy by opening 4 new stores
0 Comments

    Payroll Assist

    Outsource your Payroll.

    Archives

    March 2015
    February 2015
    September 2014
    August 2014
    July 2014
    April 2013
    November 2012
    August 2012
    July 2012
    May 2012
    April 2012
    January 2012
    August 2011
    July 2011

    Categories

    All

    RSS Feed

Powered by Create your own unique website with customizable templates.