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You are here: Blog Home » Archives for March 2010
Archive for March, 2010
Tuesday, March 23rd, 2010
If you are one of our existing clients you may well be aware of the extensive company set-up and company formation services we provide. These include limited company registration, business name registration, Branch & Foreign company registration & place of business registration.
We also provide ongoing company legal support services to your business in the form of company secretarial services, change of limited company name (should you decide you want to change the course of your business), registered office address and voluntary strike off application, (should things go wrong!)
If you are looking to expand overseas you may require certification and apostille stamping of your business documents such as Memorandum & Articles of Association, Certificate of Incorporation & Business name registration. This may be required for the purposes of production to a foreign public body for business registration overseas. We can organise this process for you here in Ireland for your business registration overseas.
If you would like to discuss in more detail See O’Mahony Donnelly contact details
Tags: apostille stamping, Branch & Foreign company registration, business name registration, business registration overseas, Certificate of Incorporation, certification, change of limited company name, company formation, company secretarial services, company set-up, Irish Business Registration, limited company registration, Memorandum & Articles of Association, place of business registration, registered office address, voluntary strike off application
Posted in business registration | No Comments »
Tuesday, March 23rd, 2010
If you are an Irish business looking to establish markets in a foreign country you may have several business and legal registration requirements to fulfil before you can begin trading. This can be a particularly complex assignment and a huge obstacle given the differing legal, taxation and foreign registration requirements. Throw in to the ‘mix’ a foreign country who is non-English speaking and you may be asking yourself, ‘where do I start’?
We can simplify this process for you by introducing you to one of our associated member firms in Enterprise Worldwide. With members throughout Europe, North & South America, Asia & Australia we have worldwide reach.
We work closely with our associates to provide you with a cost effective, workable solution to your business needs.
If you would like to discuss with me how I can help you achieve your overseas business expansion, See O’ Mahony Donnelly contact details
Tags: business registration, Doing Business Overseas, Enterprise Worldwide, foreign registration, legal registration, Taxation
Posted in Overseas Business | No Comments »
Tuesday, March 9th, 2010
If you are a foreign business considering doing business in Ireland then you will need to consider some key business issues as follows:
- Ireland’s Government attitude to Foreign Direct Investment
- The trading structure or business registration your company will take in Ireland whether this is through a place of business, branch registration or limited company subsidiary
- The legal environment for doing business in Ireland including company law, employment law & health and safety
- Irelands taxation framework including corporation tax, VAT, PAYE/payroll taxes, double tax treaties, witholding taxes, Capital gains tax, personal taxes & social insurance law (Location of your business in Ireland could ultimately reduce your overall international corporation tax bill)
- Availability of business premises & skilled employees
- Other issues such as banking, finance & intellectual property framework
We have extensive experience advising foreign companies on the issues they face when locating a business in Ireland.
Contact us to discuss in further detail. O’Mahony Donnelly Contact
Tags: branch registration, business registration, Capital gains tax, company law, corporation tax, Doing Business in Ireland, double tax treaties, employment law, foreign companies, Foreign Direct Investment, health and safety, international corporation tax, limited company, locating a business in Ireland, PAYE/payroll taxes, personal taxes & social insurance law, place of business, subsidiary, Taxation, trading structure, VAT, witholding taxes
Posted in Doing Business in Ireland | No Comments »
Tuesday, March 9th, 2010
If you an internet based business there are special VAT rules when you supply what us accountants refer to as ‘Electronically Supplied Services’.
What are electronically supplied services? and ‘How do the VAT rules affect my internet business’?
If you would like to read on then you will find the answers to these important VAT issues.
Firstly some definitions are important:
An ’Electronically Supplied Service’ includes a) website supply, web hosting, distance maintenance of programmes and equipment b) supply of software and updating of it c) supply of images, text and information, and making databases available d) supply of music, films and games, including those games of chance and gambling games, and of political, cultural, artistic, sporting, scientific and entertainment broadcasts and events, and e) supply of distance teaching and ‘electronic services shall be construed accordingly, but where the supplier of a service and his/her customers communicates by means of e-mail, this shall not of itself mean that the service is an electronic service.
If your internet business falls within one of the above definitions then it is an ‘electronically supplied service’. These types of services are now specifically included as ‘fourth schedule services’ (i.e. those that are taxed on the recipient where provided to a non-Irish EU based business but taxed on the supplier where provided to a non-Irish EU private individual).
The consequences of above means that an Irish based internet business would effectively not have to charge VAT to an EU based business outside of Ireland but would charge Irish VAT to an EU based individual outside of Ireland. Supplies by the Irish internet business to an Irish business or private customer will be liable to Irish VAT.
These regulations are clearly very complex to a non-accountant, so if you would like to discuss with me what VAT issues/rates apply to your internet business my contact details are here O’Mahony Donnelly Contact Details
Tags: Electronically Supplied Services, fourth schedule services, internet business', VAT
Posted in VAT, VAT on internet business | No Comments »
Thursday, March 4th, 2010
If you are considering moving to Ireland from the UK, USA or other foreign country then you will need to consider the tax implications of such a move. We have many clients who we advise on such matters and are fully conversant with the Irish tax issues involved. The timing of such a move is crucial in ensuring you do not overpay Irish taxes and minimise your potential Irish taxation exposure. There are also other issues you would need to be aware of surrounding potential capital taxes on capital assets you may hold abroad. If you would like to discuss with us how we can help you make the move with minimum of tax worries please contact me. Contact page at O’ Mahony Donnelly, Chartered Certified Accountants.
Tags: Non-Domiciled, Tax Resident in Ireland
Posted in Non-domiciled taxation | No Comments »
Thursday, March 4th, 2010
If you are an EU or non-EU business not established in Ireland, have not made vatable/taxable supplies to customers here but have incurred Irish expenses then you may be entitled to a refund of VAT on those business expenses. Application is normally made through the EU member state in which the VAT was paid. From 01/01/2010 the refund procedure has been streamlined by the introduction of a new electronic system which will aid the quicker processing of refunds.
If you would like to find out more about the conditions of the above procedure and how we can help you obtain a refund of Irish VAT then please contact me. Contact Page for O’ Mahony Donnelly, Chartered Certified Accountants.
Tags: Foreign Businesses, VAT Refunds
Posted in Value Added Tax | No Comments »
Tuesday, March 2nd, 2010
Thousands of UK citizens living abroad as tax exiles could find themselves facing a retrospective tax bill stretching back as far as the previous six years, following a recent Court of Appeal ruling.
The case involved businessman Robert Gaines-Cooper, who has lived in the Seychelles since 1976. Despite the fact that he had adhered to previous HM Revenue & Customs (HMRC) guidance by spending fewer than 91 days in the UK on average each year, the judges ruled he had nevertheless maintained ties with the country.
The Appeal Court said that the 91-day rule did not actually establish non-residency, and ruled that the UK had remained the ‘centre of gravity’ of the defendant’s life and interests.
The ruling means that thousands of UK tax exiles could have their lifestyle scrutinised by the Revenue, with factors such as the number and length of visits to the UK, any economic and business ties, and ongoing connections such as membership of UK banks or sporting clubs, being taken into consideration. Source :www.lawrencegrant.co.uk
Tags: non-resident, tax bill
Posted in Tax Residency | No Comments »
Tuesday, March 2nd, 2010
Based on an estimate of the CSO’s valuation of what our country produces,measured by GDP, in the 3rd quarter of 2009 this amounted to €32.2bn. Since the figure recorded in the same quarter of 2004 was € 30.8bn this appears to suggest our activity is down to 2004 levels. Further, the fall in GDP since 2007 has amounted to 20%, so if your own business turnover has fallen less than 20% in the last 2 years you are doing better than most. From a survey last autumn conducted for the Department of Finance concluded that 45% of SME’s experienced a turnover fall of more than 20%. source: www.bizplus.ie. It is an interesting exercise to compare your own business results with this ‘national economic benchmark’. Michael O’Mahony FCCA
Tags: Irish business
Posted in Business News | No Comments »
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