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Income Tax Summary

Subject to certain exceptions and exemptions, income tax is chargeable on all income arising in the State to individuals, partnerships and unincorporated bodies.
The most common form of income tax is PAYE deducted by employers from pay. Self-assessment applies to the self-employed and those with income from non-PAYE sources.

Those in receipt of PAYE income only do not have to register and file an annual Income Tax return. Some of the more common circumstances when Income Tax registration is required are:

When a person is self-employed (i.e. carrying on their own business including farming, professions or vocations)

When a person receives income from sources where some or all of the tax cannot be collected under the PAYE system, for example:

  • profits from rents
  • investment income
  • foreign income and foreign pensions
  • maintenance payments to separated persons
  • fees
  • profit arising on exercising various Share Options/Share Incentives