Hi
Let me start by giving some background to see can anyone answer the question I have.
I have a property in Ireland I'm renting for around 3000 a month.
Now if I put this in a company I need to pay 25% in tax instead of 40% + UCS + PRSI. (as I have other income not just the property)
My question is if the company is renting a property aboard in order to do business (Spain for example) can I deduct this from the tax?
The bellow is an example
12 X 3000 = 36000 Tax 25%= 9000 (regular tax I would need to pay)
12 X 3000 - 12 X 1000 (the cost of the rent in the abroad country) = 24000 tax 25% = 6000
Is this allowed or you cant deduct the the abroad cost of the rent for tax purposes?
Also if you buy a company car or company laptop abroad can you deduct this as well?
Let me start by giving some background to see can anyone answer the question I have.
I have a property in Ireland I'm renting for around 3000 a month.
Now if I put this in a company I need to pay 25% in tax instead of 40% + UCS + PRSI. (as I have other income not just the property)
My question is if the company is renting a property aboard in order to do business (Spain for example) can I deduct this from the tax?
The bellow is an example
12 X 3000 = 36000 Tax 25%= 9000 (regular tax I would need to pay)
12 X 3000 - 12 X 1000 (the cost of the rent in the abroad country) = 24000 tax 25% = 6000
Is this allowed or you cant deduct the the abroad cost of the rent for tax purposes?
Also if you buy a company car or company laptop abroad can you deduct this as well?