Ireland currently has an incentive for start-ups of a three-year remission from taxation on profits and capital gains for those new companies with a tax liability of less than €40,000 per year. Qualifying companies are entirely exempt from corporation tax on trading profits and chargeable gains on the disposal of assets. At the current rate of 12.5%, this equates to €320,000 of annual profits. There is also marginal relief between €40,000 – €60,000. There are certain conditions attached including the type of trade, and the relief is linked to the amount of employers PRSI (Pay Related Social Contributions) up to €5,000 per employee.