Pearse Trust Blog

In addition to this requirement a private company limited by shares must have the word “Limited” or “Teoranta” as the last word of its name. However, exemption may be sought from this requirement if a company meets the criteria as set down by the Companies Registration Office (CRO).

All Irish Companies are required to have their financial statements audited, except where they meet the criteria for, and actually claim, the audit exemption.  

Normally, an Irish tax resident individual or company is liable to Irish tax on worldwide income and gains.  This means that a gain arising on the disposal by an Irish resident of property wherever situate is liable to Irish Capital Gains Tax (CGT).  For transactions falling after the date of the 2012 Budget (6 December 2011) the rate of CGT has been increased from 25% to 30%.

At the end of May 2012 the IFIA (Irish Funds Industry Association) announced  that assets serviced by the Irish funds industry have reached an all time high of *€2 trillion.

Commentary in the media suggests that many US companies are using a structure called the “Double Irish Dutch Sandwich” to reduce their worldwide taxation liabilities connected with Intellectual Property (IP). The companies said to be using this structure include Apple, Facebook, Google, Microsoft, Oracle Corp and Pfizer Inc. The structure utilises advantageous taxation rules in Ireland and the Netherlands to limit the taxation payable on flows of royalty income generated from IP, and is also tax efficient from a US perspective.

All Private Limited Companies in Ireland, whether trading or not, must file an annual return (Form B1) with the Companies Registration Office (CRO) at least once every calendar year.

The necessary steps to be taken by a UK Company involved in a cross border merger are set out in The Companies (Cross-Border Mergers) Regulations 2007 (as amended).

A foreign company may establish a "Place of Business" or a "Branch" within the Republic of Ireland (the "State").