General Information UK resident company liable to corporation tax on its worldwide profits. non-UK resident company liable to corporation tax on the profits of a branch or agency in the UK. LTDs benefit from significant tax incentives
UK corporation tax rates: 20 per cent for companies with profits of up to £300,000 between 20 per cent and 26 per cent for companies earning profits of between £300,001 and £1.5 million depending on where your profits fall within that band 26 per cent for companies with profits of more than £1.5 m
UK personal tax rates for 2011-12: 20 per cent on income between £1 and £35,000 40 per cent on income over £35,000 50 per cent on income over £150,000 Tax free allowance 7.500
GENERAL: Resident companies are taxed on their world-wide income Non-resident companies having a permanent establishment (defined as a place of business or fixed equipment, which would normally include branches) pay income tax on their income originating in Luxembourg. .
GENERAL: Corporate Income Tax (IRC) applies to corporate entities, which includes SAs, SARLs, and Partnerships Limited by Shares In partnerships tax is assessed directly on the partners rather than the partnership as such. .
ADVANTAGES: tax incentives available for investors who are considered to be supporting the economic development of the country IRC is assessed annually and deducted from the annual net income (profit) from business activities
TAX RATES FOR COMPANIES: income does not exceed €15,000, the maximum tax rate is 20 percent. otherwise the tax rate is 21 percent in both cases, there is a 4 % employment contribution surcharge and a charge of between 6% and 10.5% in respect of municipal services.