PRSI
As set out in last years Budget, employers PRSI will go to 11.05% with effect from Jan 1st 2020. Threshold for higher rate remains the same, €386 per week. The reduced rate, currently 8.7% will increase to 8.8% in 2020.
| 2019 | 2020 | |
| Reduced Rate | 8.7% | 8.8% |
| Higher Rate | 10.95% | 11.05% |
Minimum Wage
The Government announced that the NMW will only increase by 30cent per hour to €10.10 when the full extent of Brexit has been ascertained. This will not be before March 2020 (and may be later in the year).
Stamp Duty
Increased rate for non-residential property from 6% to 7.5% effective from budget night.
VRT
VRT reliefs extended for hybrids and plug-in hybrid electric vehicles (PHEV’S)
Benefit in Kind
Zero rate on electric vehicles extended 2020.
Self Employed
Earned income credit increased by €150 from €1,350 to €1,500.