15% tax rate on qualifying employment income has been introduced in terms of the Senior Employees of Family Offices, Back Offices and Treasury Management Operations Tax Rules, 2025.
In terms of L.N. 250 of 2025, with effect from 1 January 2025, Senior Employees holding an eligible office* in terms of a qualifying contract of employment with single family offices, multi family offices or undertakings carrying back office services or treasury management operations, may elect to be subject to tax at 15% on the respective remuneration.
The beneficial tax rate of 15% applies to individuals who have the requisite qualifications and at least 5 years experience in the respective field, earning employment income of at least €65,000 from the respective employment/ office. The benefit is applicable for a period of 5 years commencing in the year in which a formal determination is issued, and may be extended for an additional two periods of 5 years each, subject to the respective conditions being maintained.
Applications are open for a 10-year period starting from 1 January 2025 till 31 December 2034.
*Eligible offices include: Head of the Back Office, CEO, General Manager, Country Head, Managing Director (or equivalent); Chief Risk Officer / Head of Risk; Chief/Head of Compliance and Anti-Money Laundering Officer; Chief/Head Risk Officer, including Fraud and Investigations Officer; Portfolio Manager; Chief/Head Investments Officer; Senior Trader and Senior Structuring Professional
