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What is the tax situation for pension contributions for my employees?
Employer contributions to employee pensions are generally tax-deductible expenses for the business, reducing your corporation tax liability. For employees, these contributions are not treated as a BIK, which means they're not subject to income tax. However, limits apply, and pension benefits upon retirement may be taxable.
Remember, while tax matters can be complex, staying informed and seeking professional advice can ensure compliance and help you make tax-efficient decisions for your business. Always consult with a tax professional or the Revenue Commissioners for the most accurate and up-to-date tax information.