1 / 26

Swedis h chamber of commerce tax incentives for business gerry vahey

Swedis h chamber of commerce tax incentives for business gerry vahey. TABLE OF CONTENTS. Corporation Tax Rates , Losses, deductions etc Start up Exemption Holding Company – Participation Exemption Research & Development Tax Credit EIIS & Seed Capital Relief Assignment Relief (“SARP”)

elma
Download Presentation

Swedis h chamber of commerce tax incentives for business gerry vahey

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Swedish chamber of commercetax incentives for businessgerryvahey

  2. TABLE OF CONTENTS Corporation Tax Rates, Losses, deductions etc Start up Exemption Holding Company – Participation Exemption Research & Development Tax Credit EIIS & Seed Capital Relief Assignment Relief (“SARP”) Foreign Earnings Deduction (“FED”) Other Issues

  3. Corporation tax - general • 12.5%, 25% • Tax deduction for most items of expenditure • Incorporation versus Sole Trade • Intangible Assets

  4. Start up Exemption • Overview • Relief from Corporation Tax • First 3 years Profits • Incorporation and Commencement • Employment Based Relief

  5. Start up Exemption • The Relief • Relief of up to €40,000 • Marginal Relief to €60,000 • Trading Profits • Carry forward of losses

  6. holding company – participation exemption HoldCo Trade Co

  7. Research & development tax credit • 25% Tax Credit • Offset against Corporation Tax • Refunded over 3 years • Reward key employees

  8. Company tax credit €60,000

  9. Direct R&D expenditure

  10. Some….qualifying activities

  11. Some …. Qualifying activities (brown Coat?) Process Improvements : Definable Increases in Output, Volume, Running Time etc Automation

  12. Money back from revenue • Reliefs • Employment and Investment Incentive Scheme (EIIS) • Seed Capital Relief • Start-up Relief • How these interact with • R&D Tax Credit

  13. Employment and Investment Incentive Scheme (EIIS)

  14. Employment and Investment Incentive Scheme (EIIS) • Benefits • Cash for Company • Income Tax Relief for Investor

  15. Employment and Investment Incentive Scheme (EIIS) • The Company • Trading company • Unquoted • Residence & Incorporation • Micro, Small and some Medium Sized Enterprises • Max Lifetime limit of €10m • Max Annual limit of €2.5m

  16. Employment and Investment Incentive Scheme (EIIS) • The Investor • Resident in Ireland • Hold shares for 3 years • Not connected to company • Relief of €150,000 in any one year

  17. Employment and Investment Incentive Scheme (EIIS) • Tax Relief • Initially - 30% • After 3 years - 11%

  18. Employment and Investment Incentive Scheme (EIIS) • Practical Issues • EIIS Investors • EIIS Funds • Exit Strategies?

  19. Seed capital relief

  20. Seed capital relief • Key • Employment in last 6 years? • Paid PAYE on Employment Income? • Entitled to Income Tax Refund?!!

  21. Seed capital relief • The Relief • Refund of Income Tax • Max of €100k per annum • Previous 6 years

  22. Seed capital relief • Conditions • Investment in Shares • Qualifying Company • Creation of Employment • Qualifying Employment

  23. Assignment relief “SARP” • Inbound employees • Exempt 30% of income - €75K to €30K • Relevant Employee

  24. Foreign earnings deduction • Outbound workers • BRICS + Others • Max relief is €35K • Dependent on number of days

  25. Other issues • Double taxation network • Ease of administration • Expansion abroad • Remittance Basis • Revenue Audits

  26. CONTACT Mazars Harcourt Centre Block 3, Harcourt Road Dublin 2, Ireland Tel: +353 (01) 4494400 Email: mazars@mazars.ie Mazars Place, Salthill Galway, Ireland Tel: +353 (091) 583242 Email: mt@mazars.ie

More Related