Pearse Trust Blog

Base Erosion and Profit Shifting - An Irish Perspective

Posted by Pearse Trust on Monday, May 02, 2016

The Organisation for Economic Co-operation and Development describe Base Erosion and Profit Shifting as tax planning strategies that either –

  1. exploit loopholes in tax rules to make profits disappear for tax purposes, or
  2. shift profits to low tax jurisdictions where there is little or no real activity resulting in low or no corporate tax being paid.

The OECD explain that when multinational companies are involved in cross border activities,  the interaction of domestic tax systems can lead to gaps which result in income not being taxed anywhere.  BEPS strategies abuse the gaps between the different tax systems in order to achieve double non-taxation.

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Tags: Ireland, Tax, EU, Economy

Doing Business in Ireland: Uncomplicated Corporate Compliance

Posted by Pearse Trust on Wednesday, Mar 30, 2016

Ireland has emerged as the least complicated country in the world for businesses to stay compliant with corporate regulations and undertake commercial operations, according to a new study.

In a recent report ranking 95 countries according to compliance requirements, Ireland was ranked to be the least complicated country in the world in terms of compliance requirements when doing business.

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Tags: Ireland, Legal, Corporate Governance, Economy, Investment

Ireland’s New Tax Relief Scheme For Entrepreneurs

Posted by Pearse Trust on Wednesday, Jan 20, 2016

Under the National Policy Statement on Entrepreneurship in Ireland  2014 it was identified that the business and tax environment for entrepreneurs and investors had become more challenging and that the right conditions must be implemented, with both tax rates and incentives supporting entrepreneurship.

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Tags: Ireland, Tax, Economy

Trans-Pacific Partnership To Boost New Zealand Economy

Posted by Pearse Trust on Monday, Nov 02, 2015

Negotiations on the Trans-Pacific Partnership have concluded between the 12 participating Asia-Pacific countries, as announced in Atlanta on 5 October 2015. 

The agreement will bring big changes to global trade and will deepen economic ties between the Pacific-rim countries of New Zealand, Mexico, United States, Canada, Singapore, Australia, Brunei Darussalam, Chile, Japan, Malaysia, Peru and Vietnam.

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Tags: Tax, Economy, New Zealand, Partnerships

Choose Ireland For Business: A Hotspot For Foreign Direct Investment

Posted by Pearse Trust on Wednesday, Aug 19, 2015

Ireland’s tax system is sometimes criticised by those campaigning against corporate tax avoidance. However, what is often overlooked is the fact that Ireland’s low rate of corporate tax attracts high volumes of physical investment.

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Tags: Ireland, Economy, Investment

UK Summer Budget: Britain “Open For Business”

Posted by Pearse Trust on Wednesday, Aug 05, 2015

For employers and investors, Chancellor of the Exchequer George Osborne’s Summer Budget contained quite a few surprises. Some of the more interesting measures are summarised here.

Corporate Tax To Fall Below 20%

At 20%, the UK already has the joint-lowest rate of corporate tax in the G20. However, Osborne was clear that "the country cannot afford to stand still while others rush ahead." So in something of an unexpected move, the Chancellor announced that corporation tax will fall to 19% in April 2017 and 18% in 2020. Osborne said the new rates will send out "loud and clear the message around the world: Britain is open for business."

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Tags: United Kingdom, Tax, Economy

New Zealand’s Business Growth Agenda

Posted by Pearse Trust on Wednesday, Jul 15, 2015

New Zealand’s Budget 2015 announced by Minister of Finance, Hon Bill English on 21 May 2015,  is being called “a plan that’s working”. The budget highlighted a positive outlook for the economy and included a range of tax-related measures and investment initiatives.Some of these initiatives are aimed at New Zealand businesses and are being referred to as the “Business Growth Agenda”.

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Tags: Tax, Economy, New Zealand

UK & Mexico Relations Celebrated

Posted by Pearse Trust on Wednesday, May 13, 2015

You may not be aware of this, but, further to a joint declaration signed in 2013, a ‘Dual Year’ celebration between the UK and Mexico, designed to enhance cultural and economic relations between the two countries is currently underway.

More specifically, the Governments of both countries have designated 2015 as the year of Mexico in the UK and vice versa the year of the UK in Mexico.

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Tags: United Kingdom, Economy, Mexico

UK General Election - Taxation

Posted by Pearse Trust on Wednesday, Apr 29, 2015

On 7 May 2015, a General Election will be held to elect the 56 th Parliament of the United Kingdom.

Currently, general consensus and polling results suggest that the outcome will be that of a hung parliament with no single party securing the necessary majority required to form the Government. As occurred in 2010, a coalition government of 2 or more parties would be the expected outcome in such an event.

The following represents a short overview of the policies put forward by some of the main parties with regards to taxation and related matters.

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Tags: United Kingdom, Tax, Economy

UK Bribery Act 2010 - Overview

Posted by Pearse Trust on Wednesday, Mar 25, 2015

­The Bribery Act 2010 (“the Act”) came into effect in the UK on 1 July 2011. The Act supersedes previous bribery legislation, including the Public Bodies Corrupt Practices Act 1889 and the Prevention of Corruptions of Acts 1906 and 1916.

The Act was introduced to modernise the law on bribery in order to enhance the effectiveness by which prosecutors and the courts manage anti-bribery cases.

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Tags: Legal, United Kingdom, Economy