-
Aviation Advisory
Our dedicated Aviation Advisory team bring best-in-class expertise across modelling, lease management, financial accounting and transaction execution as well as technical services completed by certified engineers.
-
Consulting
Our Consulting team guarantees quick turnarounds, lower partner-to-staff ratio than most and superior results delivered on a range of services.
-
Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
-
Deal Advisory
Our experienced Deal Advisory team has provided a range of transaction, valuation, deal advisory and restructuring services to clients for the past two decades.
-
Forensic Accounting
Our Forensic and Investigation Services team have targeted solutions to solve difficult challenges - making the difference between finding the truth or being left in the dark.
-
Financial Accounting and Advisory
Our FAAS team designs and implements creative solutions for organisations expanding into new markets or undertaking functional financial transformations.
-
Restructuring
Grant Thornton is Ireland’s leading provider of insolvency and corporate recovery solutions.
-
Risk Advisory
Our Risk Advisory team delivers innovative solutions and strategic insights for the Financial Services sector, addressing disruptive forces, regulatory changes, and emerging trends to enhance risk management and foster competitive advantage.
-
Sustainability Advisory
Our Sustainability Advisory team works with clients to accelerate their sustainability journey through innovative and pragmatic solutions.
-
Corporate Accounting and Outsourcing
At Grant Thornton we have extensive knowledge and experience in providing tailored solutions to our clients, whether on a short-term or long-term basis.
-
Financial Services Audit
Our Financial Services Audit team offers expertise and knowledge along with a horizontal approach to solving clients’ problems and queries.
-
Global Statutory Audit
Our Global Statutory Audit team ensures your statutory audit process follows a well-defined project plan, with no surprises, to maintain compliance across multiple jurisdictions. We invest time to understand your finance function and develop bespoke solutions built on the premise of central effort to remove duplication.
-
Pension Audit
The Grant Thornton Pension Audit team has vast experience in managing schemes and preparing annual reports on them for clients.
-
Corporate Tax
Our Corporate Tax team is made up of more than 40 highly experienced senior partners and directors who work directly with a wide range of domestic and international clients; covering Corporation Tax, Company Secretarial, Employer Solutions, Global Mobility and Tax Incentives.
-
Financial Services Tax
The Grant Thornton team is made up of experts who are fully up to date in terms of changing and evolving tax legislation. This is combined with industry expertise and an in-depth knowledge of the evolving financial services regulatory landscape.
-
Indirect Tax Advisory & Compliance
Grant Thornton’s team of indirect tax specialists helps a range of clients across a variety of sectors including pharmaceuticals, financial services, construction and property and food to navigate these complexities.
-
International Tax
We develop close relationships with clients in order to gain a deep understanding of their businesses to ensure they make the right operational decisions. The wrong decision on how a company sells into a new market or establishes a new subsidiary can have major tax implications.
-
Private Client
Grant Thornton’s Private Client Services team can advise you on all areas of financial, pension, investment, succession and inheritance planning. We understand that each individual’s circumstances are different to the next and we tailor our services to suit your specific needs.
Have you claimed FED for the last few years and saved up to €57,050 in income tax?
FED is an attractive tax relief available to employees and directors of Irish companies, who spend time working in certain overseas locations (see qualifying countries table below). FED was introduced as an incentive to Irish businesses seeking to develop and expand into emerging overseas markets.
The relief was introduced in Finance Act 2012, and was enhanced further in subsequent Finance Acts i.e. the conditions for determining a qualifying day were relaxed and the list of qualifying countries was expanded. The relief is available from 2012 until 31 December 2022.
FED operates by means of a deduction from taxable employment income and is calculated using the formula outlined below. There are a number of qualifying conditions attached to the relief, which are outlined in the table below by reference to the relevant tax years.
Qualifying conditions
2012 to 2014 | 2015 to 2016 | 2017 to 2022 | |
---|---|---|---|
Minimum number of qualifying days (in a tax year or 12 month period) | 60 | 40 | 30 |
Qualifying day |
|
|
|
|
Qualifying countries
2012 to 2022 | Brazil, China, India, Russia and South Africa |
---|---|
2013 to 2022 (Additional countries) | Algeria, Democratic Republic of Congo, Egypt, Ghana, Kenya, Nigeria, Senegal and Tanzania |
2015 to 2022 (Additional countries) | Kuwait, Malaysia, Mexico, Oman, Qatar, Saudi Arabia, Singapore, South Korea, Thailand, United Arab Emirates and Vietnam |
2017 to 2022 (Additional countries) | Columbia and Pakistan |
The relief is restricted to the lesser of:
€35,000; or the “specified amount”.
The specified amount is calculated using the formula:
D x E/F where:
- D = number of “qualifying days” worked in a “relevant state” in the tax year.
- E = total employment income for the tax year (including taxable benefits in kind).
- F = total number of days that the relevant employment is held in the tax year (365 if a full year).
The “specified amount” is reduced by the amount of any employment income related to foreign duties in respect of which double taxation relief is available in Ireland under a double taxation agreement.
The relief is claimed via an individual’s annual tax return.
Example
A relevant employee, earns €100,000 and spends 125 qualifying days working between South Africa, Egypt and Nigeria in 2015. The relief available is calculated as follows:
Deduction from taxable income: €100,000 x 125/365 = €34,246
The value of the relief, calculated at the employee’s marginal rate is: €34,246 x 40% = €13,699
Time limit for claims
A claim for repayment of tax must be made within four years after the end of the tax year to which the claim relates e.g. a claim for relief for the 2016 tax year must be made by 31 December 2020.