Update 14 October 2014: In the Irish Budget for 2015, the Irish Government increased the threshold for the artists’ exemption from €40,000 to €50,000. The relief is also being extended to artists who are resident or ordinarily resident in another EU Member State or an EEA State.
Irish Resident Artist Tax Exemption
If you have produced a painting or sculpture or written a book, play or musical composition then you may be entitled to receive any income from your work tax free. Providing the work is original and creative or has cultural or artistic merit then it should qualify. It is important to note that approval has to be granted by the Irish Revenue Commissioners and only applies from the beginning of the tax year in which you apply. An Irish income tax return still has to be made in the normal manner and you have to be tax resident in Ireland.
Artists thinking of moving to Ireland may apply for an advance opinion in respect of their work and on approval by Revenue Commissioners have to become tax resident in Ireland.
We can assist with your application and any accountancy, tax planning matters you would like us to handle for you.
We have also set up limited companies for some of our artist clients with income above the threshold to benefit from corporate tax rates.