As the global landscape for cryptocurrency continues to evolve, countries worldwide are defining their stances on digital assets. Indonesia, with its rapidly growing economy and technological advancements, has been no exception. The regulation of cryptocurrencies in country has become a focal point for both local and international investors. This article delves into the specifics of…
Commonly, legal opinion is what we consider as an experienced lawyer’s advice. It is presented in the form of a document prepared by a client’s requirement. The article will provide you with all interested details regarding the provision of legal consultation. Legal opinion: Why do we need it? Banks frequently demand LOs from risky businesses…
1. Sorts of Commercial Units, Their Homestead and General Charge issues This country offers diverse business units with distinct lawful divisions, including the SA requiring EUR 30,000 minimum capital and the SARL with EUR 12,000, managed by boards of directors. The SARL limits subsidiaries to one hundred and could not trade publicly, while the SCA…
1. Trade License Acquiring a pervasive trade licence is a pivotal step for most commercial functioning in Switzerland. This licence is mandatory that assures your commercial functioning bonds to indigenous market rules and protocols. Here’s what you should know: Submission routine: You can apply for a commercial licence to the local canton’s market branch. This…
This is a new investment opportunity – SPI license in UK for sale. Please check out the main details regarding this proposal below. SPI license in UK for sale: key considerations Small Payment Institution (SPI) in UK for sale; Company was licensed by FCA in 2018; Allowed activities (money remittance, foreign exchange); Company has 3…
Seize the opportunity to effortlessly establish your business in the UK with our ready-made company, complete with premium bank accounts at Barclays and HSBC. Key features Company for Sale in UK with Barclays & HSBC Accounts Company Details: – Incorporated: 2024 – Registered Address: England – Company Type: Private Limited Company – Nature of Business…
Are you ready to establish your business presence in the UK effortlessly? Discover our exclusive offer—a ready-made company with immediate access to Natwest, Revolut, and Wise bank accounts. Here’s what you need to know: Key features Company for Sale in UK with Established Bank Accounts – Company Details: Founded in 2024, work in non-specialised wholesale…
An active transportation company limited by shares (SA) in Switzerland is now available for sale. This company, was established in 2020 and operates in the passenger and cargo transportation sector with a focus on sea and rail transport. Key Features Transportation Company in Switzerland Corporate Structure Form: Company limited by shares (SA) Year of Registration:…
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A company is considered local in Ireland if: it is registered domestically, or it is managed and governed from Ireland. However, there are some nuances.
In particular, companies registered in Ireland from January 1, 2015, are considered local companies for tax purposes, while companies registered before this date would be considered local companies for tax purposes from January 1, 2021 (in most cases).
Why do we need this information? We will understand further.
Local companies are taxed on profits made both domestically and abroad. Foreign companies are taxed only on income generated domestically.
Separately, it should be noted that income from foreign sources received by local companies is subject to corporate tax in the same way as income received domestically.
Profits of foreign representative offices of local companies are taxable locally if Ireland does not have a double tax treaty with these jurisdictions. This situation is with the income from foreign investment and trade income.
Corporate tax is levied on the profits of the company, which consists of:
1) Income from the direct activities of the company;
2) Passive income;
3) Capital increase. Standard household expenses can usually be deducted in calculating taxable income.
Why is Ireland attractive? The corporate tax rate is 12.5% for trading income. A 25% rate applies to non-trading income.
Some dividends received from the EU and countries of double tax treaties are subject to tax at a rate of 12.5%.
Value added tax applies to taxable groups of goods and services. Taxable transactions include most goods and services, however, there are exceptions.
Imports to Ireland and, as a rule, the acquisition of goods from suppliers in other EU member states. VAT is also levied on certain estimated deliveries.
The standard VAT rate is 23%. Preferential reduced rates are in the range of 0% -13.5%.
The obligation to register the status of VAT payer comes from an amount of 75,000 euros per year, or from an amount of 37,500 euros per year.
Depending on the percentage of goods and services that are sold and provided the correspondent type of money threshold is applied in each case.
As an exception, unknown entities that provide taxable supplies of goods or services in Ireland must register for VAT, regardless of the level of sales.
According to the law, the standard reporting period and VAT payments are every two months.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.