Pearse Trust Blog



Continuous Improvements To Ireland’s R&D Tax Credit

Posted by Pearse Trust on Wednesday, Dec 17, 2014


There have been continuous improvements to Ireland’s Research and Development (“R&D”) Tax Credit since its introduction in 2004.

The 2015 Budget also made a major amendment to the R&D Tax Credit. The 2003 “base year” will be removed entirely from 1 January 2015.

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Tags: Ireland, Tax, R&D

Identification Numbers Relevant To UK Companies

Posted by Pearse Trust on Wednesday, Dec 10, 2014


This blog provides an overview of the various numbers that are relevant to UK companies.

Company Registration Number

The Company Registration Number (“CRN”) is issued to a company’s registered office upon the successful registration of a company. 

This includes the following most commonly used entities:

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Tags: Legal, Incorporation, uk

RAK International Companies

Posted by Pearse Trust on Wednesday, Dec 03, 2014

 

An OECD white listed jurisdiction, Ras al Khaimah (‘RAK’) is the fourth largest of the seven emirates forming the United Arab Emirates (‘UAE’).

RAK launched an offshore facility regulated by the RAK Free Trade Zone (‘RAKFTZ’) Authority International Company Regulations in 2006, which allows for international business to be conducted free of local taxes and regulations. This particular model was based on the international business company regime model followed by the British Virgin Islands.

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Tags: Legal, Incorporation, UAE

The Impact Of The Criminal Justice Act 2013 On Irish Anti-Money Laundering

Posted by Pearse Trust on Wednesday, Nov 26, 2014

 

The 2013 Act, which amended the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (the “2010 Act”), was introduced to allow Ireland to cooperate further with the recommendations of the Financial Action Task Force (“FATF”) and to incorporate the State’s experience in the area since the introduction of the 2010 Act.

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Tags: Ireland, Anti-Money Laundering

New Zealand Tax System Rated Second Most Competitive

Posted by Pearse Trust on Wednesday, Nov 19, 2014

 

The Tax Foundation recently published its international tax competitiveness index (“ITCI”) which has ranked New Zealand as having the second most competitive tax system out of 34 OECD countries.

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Tags: Tax, New Zealand

Update On 4th EU Money Laundering Directive

Posted by Pearse Trust on Wednesday, Nov 12, 2014

 

In our previous blog, on the EU 4th Money Laundering Directive it was noted that the European Commission had adopted proposals in the fight against money laundering, tax evasion and terrorist financing.

One of these proposals was a Directive on the prevention and use of the financial system for the purpose of money laundering and terrorist financing – the 4th AML Directive.

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Tags: Legal, EU, Anti-Money Laundering

UK Tax Competitiveness Review

Posted by Pearse Trust on Wednesday, Nov 05, 2014

 

The UK ‘Office of Tax Simplification (“OTS”) has recently published a review into the competitiveness of the UK’s tax administration.

The review involved the OTS speaking to a variety of interested parties including, amongst others, small and large businesses, tax advisors and various representative bodies.

Background

The brief behind this review was to examine how to improve the competitiveness of the UK’s tax administration, with particular regard to the 2014 World Bank’s ‘Paying Taxes’ report.

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Tags: Tax, uk

New Zealand’s 2014 General Election

Posted by Pearse Trust on Wednesday, Oct 29, 2014

 

Prime Minister John Key's National Party have won a third term, narrowly missing out on an unprecedented govern-alone victory. The re-elected national Government has pledged to return to surplus this financial year and stay there in order to reduce debt, lower ACC levies and start modestly reducing income taxes.

Voting System

New Zealand uses the Mixed Member Proportional (“MMP”) voting system, giving voters two votes; one for a political party and one for their local electorate MP. The party vote decides how many seats each party gets in the new Parliament; a party is entitled to a share of the seats if it receives 5% of the party vote or wins an electorate.

The central-right National Party won 47% of the vote, giving the party 60 of the 121 available parliamentary seats.

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Tags: Tax, New Zealand

Budget 2015 Reinforces Ireland As An Attractive Location For Business

Posted by Pearse Trust on Wednesday, Oct 22, 2014

On 14 October 2014, the Minister for Finance Michael Noonan, delivered Ireland’s Budget for 2015. As part of the Budget package, the Minister also published a Road Mapto secure Ireland’s place as the destination for the best and most successful companies in the world”.

The favourable provisions introduced in the Budget increase the attractiveness of Ireland as a location to carry on business and also improve the transparency of Ireland’s tax regime.

A summary of the advantageous measures incorporated in the Budget are as follows:

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Tags: Ireland, Tax

Utilising Holding Companies For Intellectual Property

Posted by Pearse Trust on Wednesday, Oct 15, 2014

Intellectual Property (“IP”) can be one of the most valuable business assets that a company may have and it is therefore crucial to ensure that this asset is protected and utilised. One way of achieving this is through the use of corporate structures, such as a holding company. A holding company may significantly reduce administrative costs and, in some jurisdictions, reap considerable tax benefits.

Placing intellectual property in a holding company is a practice exercised around the globe by various prudent parties ranging from tax professionals to famous musicians, car manufacturers and film production companies.

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Tags: Holding Companies, Intellectual Property