Tax advantages to open a new company in ROI: the South of Ireland has received quite a bit of media publicity recently about the level of corporation tax it expects companies to pay. Although it has not been viewed in a particularly positive light by the media, there are obvious advantages to the tax arrangements within the country, particularly if you are a business owner.
The Irish tax system is sophisticated for those, who are looking to register a limited company in IE, and it has served to promote what is known as a knowledge economy; one where growth is based on the accessibility, the quality, and the quantity of information available, rather than merely on the means of production.
Registration of a private company in Republic of Ireland it also provides one of the most competitive tax regimes in the world for holding companies formation there, and also for those that actively trade worldwide. It is particularly businesses in the services sectors, financial sectors, pharmaceutical industries and technology development world that continue to benefit under the Irish corporate tax system. This is because some of the tax breaks available specifically target businesses in these sectors.
What are the benefits of the Irish tax system? The main tax advantages for registering a company in the Republic of Ireland are varied. The low corporation tax that upset the British media recently is the standard corporation tax at 12.5%. This is a key component of the Irish tax strategy, and is set to continue. The development and acquisition of intellectual property attracts significant tax relief, making it lucrative for Irish businesses to improve their intellectual, trademarking and design holdings.
Research and development is also a winner in Éire, attracting tax credits for companies that spend on R&D. This is the type of action that fosters the knowledge economy. Where a subsidiary company is in the process of being wound up, the Irish government allows an exemption for the profits obtained from the share disposal thereof. EU and other treaty countries allow Irish companies to be exempt from withholding taxes.
These are not the only advantages available for private companies registered in Republic of Ireland. If you believe that your new Irish company formation could benefit from being registered in the ROI, please call our expert IE companies startup team on + 44 (0) 207.935.5171 or + 44 (0) 330.808.0089 (national rates) for further discussion.
The team has all the expertise necessary to register your limited company in the IE, while ensuring you receive a service that will benefit of your clients and your business in the longer term. With Coddan Formations Agency, it is simple to register a limited company in ROI.
If you need the registration of your private company in Dublin, Coddan can help by providing a business service address in South of Ireland's capital. Irish limited companies are suitable for a wide variety of businesses but are particularly suited to property investment funds, building firms, private equity management businesses, holding companies, worldwide trading companies and professional service companies.