Budget 2022 Points to noteCORPORATION TAXAn effective Corporation Tax rate of 15% will apply to companies with turnover of more than €750m. For companies with turnover of less than €750m the 12.5% rate of Corporation Tax remains. Income/Personal TaxNo changes have been announced for Income Tax rates. Standard rate band for Income Tax purposes will increase by €1,500 Personal Tax Credits, PAYE Credit and Earned Income Credit for the self -employed will be increased by €50. WagesMinimum Wage will rise by 30 cents to €10.50 per hour Employment Wage Subsidy Scheme will be extended to 30 April 2022 which some graduated amendments PropertyHelp to Buy Scheme being continued to 31 December 2022 Zoned Land Tax at a rate of 3% of market value residential or mixed zone land to be introduced Hospitality & TourismThe 9% rate of VAT applicable to hospitality and tourism sectors will be extended to 31 August 2022 Remote WorkingRemote Workers to receive an Income Tax deduction of 30% of vouched light, heat and broadband expenses |