Overview Of Ireland's Corporation Tax Filing & Payment Requirements

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Loans to Directors & Connected Persons - Irish Legal Principles

 
Loans to Directors & Connected Persons   Irish Legal Principles

In Irish law, Part III of the Companies Act, 1990 ("the 1990 Act") sets out a number of restrictions on loans being made to Directors and connected persons in an attempt to prevent an abuse of power which could be detrimental to the interests of shareholders and creditors.

France Rejects Tax Agreement With Switzerland

 
France Rejects Tax Agreement With Switzerland

As its European neighbours agree to Switzerland’s tax agreement, the country of France is holding steadfast to its resolve not to accept the unprecedented proposal. Called Project Rubik, the arrangement allows Swiss banks to avoid releasing the names of their account holders if they agree to impose an income tax on the deposited funds. The monies are then transmitted to the countries in which the depositors reside, serving as a means of recouping the lost revenues from previously unpaid taxes.

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10 Essential Facts on Samoan International Companies

 
10 Essential Facts on Samoan International Companies

Introduction to Samoa

Samoa, formerly known as Western Samoa and German Samoa, is a country encompassing the western part of the Samoan Islands in the South Pacific Ocean. The country became independent from New Zealand in 1962 and was admitted to the United Nations on 15th December 1976.

U-Turn On Anti-Avoidance: UK Abandons Newly Proposed Legislation

 
U Turn On Anti Avoidance  UK Abandons Newly Proposed Legislation

The UK Government has now dropped its proposals to introduce a new anti-avoidance legislation to prevent the exploitation of double tax agreements (DTA), based on the consultation responses they received so far.  

The Benefits Of Incorporating Your Business In Ireland

 
The Benefits Of Incorporating Your Business In Ireland

Sole Traders or Partnerships wishing to incorporate their businesses in Ireland may avail of a wide number of benefits.

Taxing the Rich: From Boardrooms to Football Fields

 
Taxing the Rich From Boardrooms to Football Fields

Lately, a vocal group of wealthy people have been calling for more taxes on the rich.  From billionaire Warren Buffett in the States to L’Oreal heiress Liliane Bettencourt and other French high-earners asking the wealthy to pay more taxes on their incomes in order to help pull their countries out of debt, it’s inevitable that leaders will listen – and raise taxes.  France announced a 3% tax increase on its top earners, and Italy followed suit.  After plenty of debate, Italians earning over €500,000 annually will pay an extra 3%.  Italy’s move is largely symbolic, however; only 4,437 Italians declared €500,000 or more on their tax returns.  Spain is considering a similar measure, a 2% increase on high earners to raise €1.2 billion.

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The New UK Tax Exemption for Foreign Branches

 
uk tax exemption for foreign branches

The UK Finance Bill 2011 introduces an exemption from UK corporation tax on the profits earned and gains incurred by foreign branches of UK companies.

Who Is A Politically Exposed Person (PEP)?

 
Who Is A Politically Exposed Person (PEP)

In our blog post published on 15 August, we indicated that in accordance with the EU Third AML Directive and the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, Enhanced Customer Due Diligence (ECDD) should be applied in respect of a business relationship, or occasional transaction, with a Politically Exposed Person, or PEP.

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