Pearse Trust Blog



Ireland’s Proposed Property Fund Tax – Investors Beware!

Posted by Pearse Trust on Wednesday, Jan 11, 2017

New legislation introduced in the Irish Finance Act 2016 and signed into Irish law by the President at the end of December 2016, provides for a new tax regime for Irish Real Estate Funds (IREFs).

While the details remain sketchy, here we look at how the new tax may impact property fund investors.

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Tags: Ireland, Tax

Irish Tax Implications for non-Irish Residents Transferring Shares in Irish Companies.

Posted by Pearse Trust on Monday, Jan 09, 2017

Favourable Irish tax treatment exists with regard to the transfer of shares in Irish companies between non-Irish residents.

Where carefully structured, no Irish Capital Gains Tax (“CGT”) will arise on the disposal by a non-Irish resident individual or corporate of the shares in the Irish company.  

Also, depending on the market value of the shares in the Irish company or whether any relief is possible under Irish tax law, no Irish stamp duty may arise on the acquisition by a non-Irish resident individual or corporate of a shareholding interest in an Irish company.

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Tags: Ireland, Corporate Governance, Shareholders, Shares

What Is A Golden Share?

Posted by Pearse Trust on Wednesday, Dec 14, 2016

In Irish company law, a “golden share” is  a particular type of share, issued for the sole purpose of giving its holder the power to control the board of directors of the company which has allotted the golden share.

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Tags: Ireland, Legal, Shareholders, Shares

The Role Of A Proxy

Posted by Pearse Trust on Monday, Dec 12, 2016

A proxy is a person who is designated by a member of a company to attend a general meeting and vote in place of that member.

Section 136 of Companies Act 1963 provides that any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint another person (whether a member or not) as his/her proxy to attend and vote instead of him/her. A proxy so appointed shall have the same right as the member to speak at the meeting and to vote on a show of hands and on a poll.

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Tags: Ireland, Corporate Governance, Shareholders

Choosing A Company Name In Ireland

Posted by Pearse Trust on Monday, Nov 28, 2016

Making A Name For Yourself

When incorporating a company, choosing the right company name is important. A company name must be unique. A name that is identical or overly similar to one which already exists will not be registered.

Where there is a similar company name in existence which obstructs the registration of a company name, it is possible to furnish the Companies Registration Office with a Letter of No Objection from the existing company to the use of the proposed name. For example, where the two companies will be associated or where the beneficial owner of both companies is the same.

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Tags: Ireland, Incorporation, Intellectual Property

The Importance Of Auditor Independence

Posted by Pearse Trust on Wednesday, Nov 23, 2016

The primary purpose of an audit is to provide company shareholders with an expert, independent opinion as to whether the annual accounts of the company reflect a true and fair view of the financial position of the company and whether they can be relied on. Independence is the main means by which an auditor demonstrates that he can perform his task in an objective manner.

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Tags: Ireland, Corporate Governance, Audit

What Is A Company Secretary in Ireland? – The Roles & Responsibilities

Posted by Pearse Trust on Wednesday, Nov 16, 2016

In Ireland, every company is legally obliged to appoint a company secretary. The company secretary is a communicator, facilitator, and legal advisor to the board and the company's shareholders. The company secretary also has ongoing communications with regulatory authorities such as the Companies Registration Office (the "CRO") and Revenue Commissioners. The company secretary should be independent when providing advice, suitably qualified and aware of the rights, duties and obligations of directors, shareholders and other third parties.

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Tags: Ireland, Corporate Governance

The Charities Regulator Gets New Powers To Protect  Irish Charities

Posted by Pearse Trust on Wednesday, Nov 09, 2016

The Charities Regulator in Ireland has announced commencement in September 2016 of Part 4 of the Charities Act 2009, which gives investigative and protective powers to the Charities Regulator. 

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Tags: Ireland, Tax, compliance

Ireland’s International Tax Strategy

Posted by Pearse Trust on Monday, Nov 07, 2016

Ireland, like many countries, is making changes to its tax regime in response to international pressure for more tax fairness and transparency.

It is a situation which is increasing tax uncertainty, not only in Ireland, but all over the world. Hence, the Irish Government has attempted to quell concerns over the direction it is taking with its tax system with the publication of its International Tax Strategy.

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Tags: Ireland, Tax

Budget 2017 - Ireland Remains An Ideal Location For Business

Posted by Pearse Trust on Monday, Oct 17, 2016

On 11 October 2016, the Minister for Finance Michael Noonan, delivered Ireland’s Budget for 2017 and also provided an “Update on Ireland’s International Tax Strategy”.

The favourable provisions introduced in the Budget and as outlined in the Update on Ireland’s International Tax Strategy:

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Tags: Ireland, Tax, Economy