The Irish Revenue has adopted iXBRL (inline Extensible Business Reporting Language) as the standard to be used for submitting electronic financial statements and is rolling out mandatory iXBRL filing for Corporation Tax payers in stages.
Setting up a business can be a daunting prospect; among the many considerations facing small business owners is the choice of operating their business as a sole trader or as a body corporate.
Is your turnover less than €1.25m (€1m before 1 May 2013 and €2m from 1 May 2014) or are 90% or more of your sales to unregistered persons ? If so are you availing of the benefits of the cash receipts for accounting for VAT ?
Why is Ireland an ideal Location for Trading Companies and Holding Companies?
Advice on getting your start up business tax compliant.