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UK Process Agents – What Are They & Why Are They Necessary?

 
uk process agents

Where overseas companies and individuals, particularly those in finance related industries or high-level transactions enter into agreements or undertakings which are governed by UK legislation, such parties will ordinarily be required to provide an address for service within the UK.

R&D Cash – Window About To Close

 
R&D Cash – Window About To Close

This is a guest post written by Noel Cunningham, international tax liaison partner at Mazars Ireland.

Liquidators, Directors & Restriction Orders in Ireland

 
Liquidators, Directors & Restriction Orders in Ireland

Section 56 of the Irish Company Law Enforcement Act 2001 obliges liquidators of insolvent companies, within six months of their appointment, to submit a report to the Office of the Director of Corporate Enforcement detailing, inter alia, the conduct of the directors, shadow directors or de facto directors during the twelve months preceding the liquidation.   The liquidator is subsequently obliged to institute proceedings pursuant to section 150 of the Companies Act 1990 to have the directors restricted, unless relieved of this obligation by the Director of Corporate Enforcement.  In 2010, 170 restriction applications were brought in the High Court, of which 156, or 96%, were successful. 

Foreign Tax Credit Application On Dividends Received By Irish Companies

 
Foreign Tax Credit Application On Dividends Received By Irish Companies

The Irish tax system does not impose taxation on foreign dividends received by an Irish company, provided that the foreign corporation tax and foreign withholding tax (if any) suffered by the subsidiary on the dividends is in excess of the Irish tax.

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Shadow Directors – The Legal Principles in the UK & Ireland

 
Shadow Directors – The Legal Principles in the UK & Ireland

Who Is A Shadow Director?

Section 251 of the UK Companies Act 2006 and Section 27 of the Irish Companies Act 1990 define a shadow director as a person in accordance with whose directions or instructions the directors of the company are accustomed to act.

If The Euro Fails…

 
If the Euro fails

Italy’s Prime Minister Silvio Berlusconi has the harshest words for the euro. In 2005, he said the euro has “screwed us all” and blamed it for Italy’s recession.  Now, Europe is on the brink of economic collapse, as evidenced by rising unemployment, a huge Greek national debt that is causing unrest, and other indicators that the euro was not a guarantee of economic prosperity.  Germany’s Prime Minister has a dire prediction for what will happen if the euro fails.  “If the euro fails, Europe fails,” Merkel has said, according to published reports.  She warned of a threat to peace in Europe and emphasised the need to protect Europe.

Proposed Audit Exemptions for UK SMEs

 
Proposed Audit Exemptions for UK SMEs

A consultation issued by the Department for Business, Innovation and Skills has proposed plans to allow more small companies to avail of audit exemptions in the UK.

Irish Dividend Withholding Tax Exemptions

 
Irish Dividend Withholding Tax Exemptions

The withholding taxes applicable to outward bound payments from cross-border arrangements should not be overlooked in planning international investments.  The treatment of profits extracted from an Irish company by way of dividends is no different. 

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MLRO: Who Are They & What Do They Do?

 
MLRO   Who Are They And What Do They Do

An “MLRO” is a Money Laundering Reporting Officer. In Ireland this nominated person is responsible for ensuring that transactions that arouse suspicions of money laundering or terrorist financing are reported to the Garda Siochana (the Irish Police) and the Revenue Commissioners

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