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

OECD Guidance On CbC Reporting

Posted by Pearse Trust on Monday, Mar 21, 2016

Until recently, “transfer pricing” was a term used only by those involved in the complex world of international finance and corporate tax planning. Now, thanks to growing public anger about corporate tax avoidance, it has entered the public consciousness.

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Tags: United Kingdom, Tax, EU

The European Savings Tax Directive Mark Two

Posted by Pearse Trust on Monday, Mar 14, 2016

The European Savings Tax Directive (EUSTD) was a major feature of the tax landscape of the European Union and certain other jurisdictions for a decade. As of 1 January 2016, however, the EUSTD is no more. This blog looks at what has taken its place.

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Tags: Legal, Tax, EU

Brexit: Should The UK Leave The EU?

Posted by Pearse Trust on Wednesday, Feb 24, 2016

Leaders of the 28 nations in the EU met in Brussels on 18 February for a two day summit discussing numerous issues within Europe. However, while many issues continue to confront Europe, the negotiations centering on the referendum for the possible withdrawal of the United Kingdom, the EU’s second biggest economy, dominated proceedings. With recent polls indicating considerable uncertainty amongst the British public’s position, much of the summit was concerned with the negotiations between British Prime Minister David Cameron and other European Leaders and the deliverance of reform. Even with the secured reforms with regard to the UK’s relationship with Europe, much will still depend on what the British electorate want and the future referendum campaign. This subsequently raises a number of queries as to the potential fallout from a “Brexit”.  

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Tags: United Kingdom, EU

Cybersecurity In The EU – An Overview Of The NIS Directive

Posted by Pearse Trust on Wednesday, Feb 03, 2016

A high level of network and information security across the EU is essential to ensure consumer confidence and to keep the online economy running. This, in turn, preserves the proper functioning of the internal market and encourages economic growth.

Unfortunately, information and computing systems (which enable essential services, businesses and the internet to function), are increasingly affected by adverse security incidents.  These incidents can arise as a result of technical failures, unintentional mistakes, natural disasters or indeed deliberate and malicious attacks.  These incidents can disrupt the supply of essential services. 

In 2013, the European Commission published a strategy outlining its plans to ensure a common level of network and information security across the European Union.  This strategy aims to reduce cybercrime and to improve network resilience.  As part of this strategy, the European Commission recommended the introduction of a Network and Information Services (NIS) Directive. 

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Tags: Legal, EU, Website

New EU Data Protection Regulation – An Overview

Posted by Pearse Trust on Wednesday, Dec 02, 2015

In January 2012, the European Commission proposed a comprehensive reform of data protection rules in the EU. The objective of this new set of rules is to return control of personal data to citizens, and to simplify the regulatory environment for businesses.

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Tags: Legal, EU

Fourth EU Money Laundering Directive – An Overview

Posted by Pearse Trust on Wednesday, Nov 25, 2015

The Fourth EU Money Laundering Directive ("AMLD4") came into force on 26 June 2015.  It replaces the Third EU Money Laundering Directive and its purpose is to strengthen and improve existing anti-money laundering and counter-terrorist financing laws. It will also ensure consistency in the application of such laws across all EU Member States.   

The deadline for transposition of AMLD4 into national law is 26 June 2017.  

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Tags: Legal, EU, Anti-Money Laundering

EU Resurrects Common Consolidated Corporate Tax Base (CCCTB)

Posted by Pearse Trust on Wednesday, Oct 21, 2015

In June 2015, the European Commission unveiled an Action Plan on corporate tax, which is intended to strengthen the European Single Market, reduce administrative barriers for businesses, and tackle tax base erosion and profit shifting. The central pillar of this plan is the proposed Common Consolidated Corporate Tax Base (CCCTB).

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Tags: Tax, EU

EU Takes Forward Plans For Beneficial Ownership Registries

Posted by Pearse Trust on Wednesday, Sep 02, 2015


On 29 April 2015, the Council of the European Union, which represents the governments of the 28 EU member states, endorsed a package of proposals aimed at preventing money laundering and terrorist financing. The package requires that EU governments establish and maintain central registries containing information about the beneficial owners of companies registered in their jurisdictions.

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Tags: Legal, EU, Beneficial Ownership

VAT & VIES Filing Requirements In Ireland

Posted by Pearse Trust on Wednesday, Aug 12, 2015


Ireland’s decision to join the EU in 1973 marked the introduction of Value Added Tax (VAT). VAT was implemented among all member states as the turnover tax within the “common market”, and as a means of policing VAT, the ‘VAT Information Exchange System’ (VIES) was introduced in 1993.

VIES operates as a system of administrative support to member states and ensures both the registration of companies for VAT as well as the correct rate of VAT being charged on all transactions.

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Tags: Ireland, Tax, EU, VAT