Pearse Trust Blog

The Organisation for Economic Co-operation and Development (OECD) published a report on 10 May 2012, detailing the tax burdens imposed on employment income across the 34 OECD countries.

There are many beneficial European influences on Irish tax law. The purpose of this blog is to give the reader a flavour of the more important of such effects.

An annual Local Property Tax (LPT), applicable to all residential properties in Ireland, will come into effect from 1 July 2013.  The LPT will be administered by the Revenue Commissioners, under self-assessment, and will be charged on the market value of the property.

This article considers the pitfalls of voluntary transfers in Ireland, the ability of creditors to set aside voluntary transfers under various sections of legislation in Ireland and the importance of establishing solvency at the time of the voluntary transfer to ensure it withstands close scrutiny.

Following concerns expressed by the French, German and UK Governments about the use of Base Erosion and Profit Sharing schemes (“BEPS”) by multinational companies, the Organisation for Economic Co-operation and Development (“OECD”) has published a report detailing the pertinent issues involved.

What Is A Single Member Company?

A single member company can be defined as a company with only one member, also referred to as the shareholder. A company may be formed as a single member company or may become a single member company following a share transfer whereby the number of shareholders is reduced to one.  This one shareholder will hold all of the shares of the company in their name.

The new Companies Bill in Ireland was distributed on 21 December 2012 by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD. The Bill has outlined a number of proposed changes which will transform current Irish company law.

A resolution is a formal way in which a decision is proposed and passed at company meetings.  Essentially, a resolution is written documentation describing an action that has been authorised by either the directors or members of a Company.