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Notepad, black pen and calculator on a black background, with the Chartered Accountants Ireland logo in the top-left corner. Text says Budget 2022.

Budget 2022

Budget 2022 was announced on Tuesday 12 October 2021. Our team of experts have analysed, interpreted and provided informed, reliable commentary on the impact of this year's Budget on business in Ireland.


Budget 2022 at a glance

The Minister for Finance Paschal Donohoe T.D. and the Minister for Public Expenditure and Reform Michael McGrath T.D. delivered Budget 2022 against the backdrop of increases in the cost of living, changes in international tax reform and the need to reduce overall reliance on borrowings.

The key changes announced in Budget 2022 are:

  • Increases to personal tax credits, bands and relief for remote working
  • Extension of EWSS and enhancement of EIIS
  • A new 3% zoned land tax
  • A new digital gaming sector tax credit
  • Expansion of the tax debt warehousing scheme to allow individuals who have a “material interest” in their employer company to participate in the scheme.
Covid-19 Supports
Income tax
Employer's PRSI
Corporation tax
VAT
Housing measures
Carbon tax
EII Scheme
Farming Measures
Excise
See the Tax News Budget 2022 Special Newsletter

In the media

Today with Claire Byrne (RTÉ Radio 1)

Today with Claire Byrne (RTÉ Radio 1)

Norah Collender joined a panel to preview taxation measures in Budget 2022 on RTÉ Radio 1.

listen here

News at One (RTÉ Radio 1)

News at One (RTÉ Radio 1)

Dr Brian Keegan joined a panel to analyse and discuss what to look out for in the Budget speech.

listen here

News at One (RTÉ Radio 1)

News at One (RTÉ Radio 1)

Following the Budget speech, Dr Brian Keegan re-joins the panel to sum up some key tax measures.

listen here

The Last Word (Today FM)

The Last Word (Today FM)

Norah Collender joined Matt Cooper's panel to discuss what the Budget means for people.

listen here

Budget News

Tax UK
(?)

More needs to be done to support businesses and maintain jobs

Institute reacts to Autumn Statement announcements  17 November 2022 – Today’s Autumn Statement did little to support businesses and their employees through the tough times ahead, according to Chartered Accountants Ireland. The Institute, which represents over 5,200 members working in businesses and practices across Northern Ireland, commented as the Government announced its ‘Autumn Statement’ in Westminster, with the Chancellor acknowledging that the UK is in recession after the biggest monthly increase in inflation in over 40 years.  Commenting, Dr Brian Keegan, Director of Public Affairs, Chartered Accountants Ireland said,  “Businesses in Northern Ireland are feeling the effects of this inflationary crisis particularly acutely. These businesses are also dealing with continued uncertainty over trading arrangements in the context of the ongoing Protocol negotiations along with the absence of devolved government.  “We saw during the COVID-19 pandemic that the Government can react speedily at a time of crisis. As this crisis deepens, more needs to be done by the Government to develop and deliver much needed supports through the tax system. For many businesses, these could be a vital lifeline for survival and, ultimately, job protection.  “For example, the Government could reintroduce extended relief for trading losses, as it did during the pandemic. This would enable businesses to claim relief for losses much earlier which would generate vital tax refunds and improved cash flow. “Tax policy and the tax system can, and must, be used to not only build strong and sustainable economies but to provide crucial support via targeted interventions.” ENDS     

Nov 17, 2022
READ MORE
Tax
(?)

VAT Measures Budget 2023

The Minister announced the extension of reduced VAT rates for gas and electricity, with newspapers and certain health products becoming zero-rated. As signalled earlier this year, the reduced 9 percent VAT rate for the hospitality sector will not continue past 28 February 2023. Gas and Electricity The 9 per cent rate of VAT will be extended for gas and electricity to 28 February 2023. The measure was due to end on 31 October 2022. Newspapers Newspapers play a critical role in our society. In recognition of this, the Minister announced a reduction in the VAT on newspapers (including digital editions) from 9 per cent to zero rate from 1 January 2023. Health Products Automatic External Defibrillators will now be taxed at the zero rate. In addition, non-oral Hormone Replacement Therapies and non-oral Nicotine Replacement Therapies will be zero rated. These changes will be introduced from 1 January 2023 Hospitality The 9 per cent VAT rate which is currently in place for the benefit of the tourism and hospitality sector will cease after 28 February 2023 where the rate will revert to 13.5 per cent.

Sep 27, 2022
READ MORE
Tax
(?)

Extension of the Bank Levy

The Bank Levy has been extended to the end of 2023. It is expected that the amount collected in 2023 will be in the region of €87 million.

Sep 27, 2022
READ MORE
More Budget news

Pre-Budget 2022 Report

CCAB-I-Pre-Budget

The Consultative Committee of Accountancy Bodies-Ireland (CCABI-) have submitted a Pre-Budget 2022 report putting forward a tailored tax policy designed to meet the needs of Ireland's dual economy.

If you have any questions about this report, please contact Norah Collender at norah.collender@charteredaccountants.ie.

Download the CCAB-I Pre-Budget Submission 2022 Report

Our experts

Budget 2022-specific commentary

As Ireland's premier professional accounting organisation, Chartered Accountants Ireland has the expertise to assess the practical impact of Budget 2022 taxation measures and supports for businesses.

Brian Keegan
Director, Advocacy and Voice
Tel: +353 1 637 7347
brian.keegan@charteredaccountants.ie

Norah Collender
Professional Tax Leader
Tel: +353 1 637 7206
norah.collender@charteredaccountants.ie

BrÍd Heffernan
Leader Associates and Institutions
Tel: +353 1 523 3956
brid.heffernan@charteredaccountants.ie

Maud Clear
Tax Manager
Tel: +353 1 637 7334
maud.clear@charteredaccountants.ie

Brexit commentary

As an all-island body at the forefront of the Brexit debate for the past 5 years, we have wide-ranging knowledge and insights into its impacts on trade in goods and services in Ireland, in Northern Ireland, EU borders, technologies, and customs controls, customs administration, tariffs and VAT, and trading under WTO rules.

Cróna Clohisey
Public Policy Leader
Tel: +353 1 529 3964
crona.clohisey@charteredaccountants.ie


Budget Summary Client Service

Chartered Accountants Ireland again offered a Budget summary service. This provides a snapshot of the key tax points (income tax, corporation tax, CGT, CAT, VAT, stamp duty) as a branded summary that you can send to your clients the following day.

For more information, please visit our dedicated Budget 2022 Summary Client Service webpage.


Other areas of interest

Public Policy
Tax reform
Brexit

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