The tax free threshold of 0% corporate tax which applies to Irish Limited Companies that are incorporated and begin trading no later than 31/12/2009 will soon arrive. This deadline is further shortened by the CRO (company registration office) christmas opening times. They can only guarantee new company applications received by 14/12/2009 will be processed before 31/12/2009. To meet the criteria as incorporated and having begun trading during 2009 a tax registration application also has to be submitted. This can only be done after the company is incorporated. It is therefore vital that these applications are made now, preferably in November, to ensure you meet the above conditions.
Archive for the ‘Irish Limited Companies’ Category
DEADLINE NEAR FOR TAX EXEMPT IRISH LIMITED COMPANIES
Thursday, November 12th, 2009LATEST NEWS- Irish Company Law Changes For Non-Resident Directors Take Effect!
Friday, July 3rd, 2009Following changes passed today in the Companies Amendment Act 2009, non-Irish resident directors will no longer have to provide a s43 bond to incorporate an irish limited company. This will save new Irish companies bi-annual cost of € 1,800 approximately and is seen as a siginificant boost to new business start-ups. S 10 of the Act lays down the criteria which includes the list of countries in EEA area, currently totalling 30 in all.
Whilst the act has to be signed by the President to take legal effect, I understand that any applications received after today will not require the bond with the application. However any bonds that expired before today are likely to need renewing.
If you require any assistance or explanations on how the above may affect your company, you are welcome to contact us to discuss. O’Mahony Donnelly Chartered Certified Accountants Contact Details
UPDATE 2- Irish Company Law Changes To Help Non-Resident Directors!
Thursday, May 14th, 2009The Seanad, who were due to meet again yesterday afternoon, wednesday 13/05/2009 to further debate proposed changes in the ‘Companies (Amendment) Bill 2009′ have moved this debate back . I was in contact with the private secretary to the Leader of Seanad Eireann today who has confirmed they propose to progress this during the next week.
I will keep you updated as soon as I have further information together with any significant amendments and the likely timetable for passing into Irish law.
UPDATE – Irish Company Law Changes To Help Non-Resident Directors!
Monday, May 11th, 2009The Seanad meet again this wednesday 13/05/2009 to further debate proposed changes in the ‘Companies (Amendment) Bill 2009′ . We will provide further details to our last posting on 06/05 in respect of proposed changes to directors residency after this date.
New Benefits For Irish Limited Companies Come Into Effect
Friday, December 12th, 2008Following on from our latest budget announced on 14/10/2008 I attended a seminar in cork before Christmas, which re-affirmed the attractive changes announced recently for limited companies, already a great proposition for new business in Ireland.
These changes will exempt Irish limited companies from corporation tax for a period of three years form 01/01/2009. There are conditions and limits, I can provide further details if you would like to contact me, but this will benefit Irish business to the tune of thousands of euro. if you are thinking of starting a new business here I would strongly recommend you contact me. (more…)
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