The document provides information on establishing and operating a business in Ireland. It discusses the main forms of companies in Ireland, taxation considerations, legal requirements, and ongoing compliance. It also covers topics such as hiring employees, reading financial statements, and the differences between establishing a branch or subsidiary. The most common company types are private limited companies (LTD and DAC), with LTDs being less restrictive. Corporation tax is 12.5% on trading income but operating through a company allows more tax planning flexibility. Setting up a company typically takes 4 weeks and ongoing requirements include annual filings and financial statements.
http://businessculture.org - Find out about business culture in the Netherlands. This guide is part of the Passport to Trade 2.0 project, which examined European Business culture in 31 countries looking at business communication, business etiquette, business meeting etiquette, internship and student placements, cost of living, work-life-balance and social media guide.
It is my study about Russian Business Culture.common working practices in Russia,Making Appointment,Business Dress Code
Conversation, Structure and hierarchy in Russian business culture
Working relation Ship in Russia, Business Practices in Russia, gender Aspects, Meals and Business Etiquettes
Finally we’ll discuss what are Do’s and Don’ts in Russian business.
Presentation on Australia custom,cuisine,manner,business,lifestyle,shared val...Muhammad Umar Shehzad
Presentation on Australia custom,cuisine,manner,business,lifestyle,shared values,arts & entertainment employment for Students of Tourism & Hospitality Management, BBA,MBA etc. for Subjects Business Communication, Tour Guide & Operation By Muhammad Umar Shehzad, Cell:+92-301-7004315, e-mail:m.umar.shehzad@gmail.com
This Netherlands Power Point highlights these facts and much more including: 18 Points on General Information, 9 Points on Family Life, 11 Points on Food, 10 Points on Food Etiquette, 11 Points on Social Etiquette, 20 Points on Business Etiquette, and 12 Points on Trivia.
This Switzerland Power Point highlights these facts and much more including: 18 Points on General Information, 8 Points on Family Life, 14 Points on Food, 8 Points on Food Etiquette, 21 Points on Social Etiquette, 19 Points on Business Etiquette, and 10 Points on Trivia.
A brief about how to do business in different cultures. The statements are made out of interview with seniors about their experiences. Have a look at how does things carry on in different cultures from a business perspective.
A short guide on the most important business forms in Ireland. Contact our lawyers for complete assistance when you open a company: https://www.lawyersireland.eu/.
http://businessculture.org - Find out about business culture in the Netherlands. This guide is part of the Passport to Trade 2.0 project, which examined European Business culture in 31 countries looking at business communication, business etiquette, business meeting etiquette, internship and student placements, cost of living, work-life-balance and social media guide.
It is my study about Russian Business Culture.common working practices in Russia,Making Appointment,Business Dress Code
Conversation, Structure and hierarchy in Russian business culture
Working relation Ship in Russia, Business Practices in Russia, gender Aspects, Meals and Business Etiquettes
Finally we’ll discuss what are Do’s and Don’ts in Russian business.
Presentation on Australia custom,cuisine,manner,business,lifestyle,shared val...Muhammad Umar Shehzad
Presentation on Australia custom,cuisine,manner,business,lifestyle,shared values,arts & entertainment employment for Students of Tourism & Hospitality Management, BBA,MBA etc. for Subjects Business Communication, Tour Guide & Operation By Muhammad Umar Shehzad, Cell:+92-301-7004315, e-mail:m.umar.shehzad@gmail.com
This Netherlands Power Point highlights these facts and much more including: 18 Points on General Information, 9 Points on Family Life, 11 Points on Food, 10 Points on Food Etiquette, 11 Points on Social Etiquette, 20 Points on Business Etiquette, and 12 Points on Trivia.
This Switzerland Power Point highlights these facts and much more including: 18 Points on General Information, 8 Points on Family Life, 14 Points on Food, 8 Points on Food Etiquette, 21 Points on Social Etiquette, 19 Points on Business Etiquette, and 10 Points on Trivia.
A brief about how to do business in different cultures. The statements are made out of interview with seniors about their experiences. Have a look at how does things carry on in different cultures from a business perspective.
A short guide on the most important business forms in Ireland. Contact our lawyers for complete assistance when you open a company: https://www.lawyersireland.eu/.
The Irish branch office is an entity available for foreign companies. If you are interested in setting one up, you can find out more about it from our article https://www.irelandcompanyformation.com/establish-a-branch-in-ireland.
The notable differences between the branch and the subsidiary, highlighted by our lawyers. Contact us for more details: https://www.lawyersireland.eu/.
DMIEXPO - Arosal - Where To Hold Your IP: The A To Z Guide For Digital MarketersMorning Dough
Arosal will walk you through the challenges and pitfalls which characterize the global tax scene post-BEPS, specifically as regards IP Boxes and the so-called ‘Nexus’ approach. We shall walk you through the process of registering and protecting your IP, whilst designing a robust international structure which will stand up to any BEPS-related challenge.
Furthermore, Arosal will outline the services which you will require, and the process through which these will be obtained regarding the implementation of your structure, whilst focusing on the tax optimization of the group’s entire structure as concerns all types of taxes. Finally, we shall discuss the administration of your international structure, and comment on the way forward in the global market place.
We offer tailored company formation services for investors interested in setting up businesses in Ireland. Find out more about our services here: https://www.irelandcompanyformation.com/
Singapore Company Registration Guide.pdfEvelynAmariah
Relin Consultants has a team of experts who are well-versed in Singapore company laws and regulations and have extensive experience in company incorporation and business setup in Singapore.
Practical guide to basic legal issues to be aware of when planning China entry, including corporate structure, tax planning and intellectual property protection.
An informative article outlining the key differences between a Private Limited Company and a Limited Liability Partnership, alongside the respective advantages and disadvantages of each.
Key Facts for Limited Companies in Malta; a legitimate low tax EU jurisdiction
5% effective corporate tax rate, no withholding, capital gains or entry or exit taxes. No inheritance or wealth taxes.
Diaporama Webinaire - Entrepreneurs comment reussir a passer la crise ?FIDAQUITAINE
Document en date du 21 avril 2020
Intervenant : Martin Schnapper Expert-Comptable FIDAQUITAINE
Partenaire : Hauts de Garonne Développement - Agence de développement économique de la rive droite de Bordeaux Métropole.
FIDAQUITAINE - Tendances marketing et digital 2020FIDAQUITAINE
Le pôle marketing de Fidaquitaine a le plaisir de vous partager sa présentation sur la thématique du marketing digital, qui a été présenté à l'occasion des Soirées pour entrepreneurs à Bordeaux et Périgueux.
> Loi de finances 2020
> Loi de financement de la sécurité sociale
> Loi Pacte
- FIDAQUITAINE – Martin SCHNAPPER – Expert-comptable et Commissaire aux comptes
- ORPI – Romain DUVIVIER – Directeur d’agences
- SWISSLIFE – Cédric GHIDOUCHE – Inspecteur VIE RP
Comment reussir son investissement locatif en Dordogne ?FIDAQUITAINE
Vous souhaitez investir dans l'immobilier en Périgord ? Vous souhaitez créer une SCI, faire du LMNP, LMP ? Avoir un regard sur la Loi Denormandie ? Découvrez la présentation d'ORPI et de Fidaquitaine Expertise comptable !
FIDDAYS - Comment preparer son depart en retraite ?FIDAQUITAINE
FIDDAYS - Comment préparer son départ en retraite ?
N°23 - Salle A - 9h30 / 10h30
AREAS ASSURANCES - Anthony CARBONNEL
Agent Général d’assurances
FIDAQUITAINE - Martin SCHNAPPER
Expert-comptable et Commissaire aux comptes
FIDDAYS - Comment optimiser la gestion de son patrimoine ? Les tendances en 2...FIDAQUITAINE
FIDDAYS - Comment optimiser la gestion de son patrimoine ? Les tendances en 2018.
N°21 - Salle A - 8h00 / 9h00
TRADITIA - Philippe de SAINT-SEINE
Fondateur et Président
TRADITIA - Bertrand de PETIVILLE - Juriste
FIDDAYS - Et si reduire les dechets de son entreprise etait source de croiss...FIDAQUITAINE
FIDDAYS - Et si réduire les déchets de son entreprise était source de croissance ?
N°20 - Salle B - 11h00 / 12h30
EASYTRI 33 - David LOUIS - Gérant
EKOLOGEEK - Julien ROBERT - Coordinateur et Animateur
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FIDAQUITAINE - Sylvie SANCE - Directrice pôle audit
Et si réduire les déchets de son entreprise était source de croissance ?
N°20-1 - Salle B - 11h00 / 12h30
EASYTRI 33 - David LOUIS - Gérant
EKOLOGEEK - Julien ROBERT - Coordinateur et Animateur
EKOLOGEEK - Pauline ROBIN - Chargée de Mission
FIDAQUITAINE - Sylvie SANCE - Directrice pôle audit
FIDDAYS - Comment mettre en place le RGPD au sein de sa societe ?FIDAQUITAINE
FIDDAYS - Comment mettre en place le RGPD au sein de sa société ?
GDPR ou RGPD - Règlement général sur la protection des données
N°19 - Salle A - 11h00 / 12h00
Olivier HOULET - Data Protection Officer certifié
Mutualisé ATYPICOM
FIDDAYS - Comment ameliorer le referencement de son site internet en 2018 ?FIDAQUITAINE
FIDDAYS - Comment améliorer le référencement de son site internet en 2018 ?
N°18 - Salle B - 9h30 / 10h30
ATYPICOM - Eric GARLETTI - Président Directeur Général
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
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Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
2. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
COMPANY FORMATION IN IRELAND
MAIN FORMS OF COMPANY/BUSINESS IN IRELAND
The different types of company available in Ireland are set out in the 2014 Companies Act, which came into
force in June 2015. The Act streamlined 50 years of Irish company law and created a n umber of new company
types.
Companies in Ireland can be public or private (public companies may list their shares on a public exchange),
limited or unlimited (for limited companies, there is no recourse to the shareholders beyond their invested
capital). There are also guarantee companies, typically used by non-profit organisations.
By far the most common types are private limited companies, which can be further split into DAC companies
and LTD companies.
The DAC (‘Designated Activity Companies’) type is best suited to companies incorporated for a specific purpose
(e.g. Special Purpose Vehicles). Their activities are limited to those listed in their constituting documents and
their compliance requirements (numbers of directors / the holding of Annual General Meetings) are somewhat
more onerous.
LTD companies are much less restrictive, and are the default company type for privately-owned small and
medium enterprises.
SPECIFIC TAX CONCERNS RELATED TO ESTABLISHING A COMPANY
The different types of company are not taxed differently. Corporation Tax rates in Ireland are 12.5% on earned
income and 25% on unearned income (e.g. deposit interest). Companies’ capital gains are taxed at 30%. The
marginal rate of income tax for individuals, however, is over 50%.
Operating through a company therefore allows much more flexibility in tax planning, as trading profits can be
reinvested with significantly less tax leakage. The main disadvantage from a taxation aspect of trading through
a company is that the profits are eventually taxed twice, when originally earned by the company and when
distributed to the shareholders.
For overseas businesses establishing companies in Ireland, the tax residency of those companies is important.
There is no statutory definition of what constitutes an Irish tax-resident company, rather Revenue (the tax
authority in Ireland) guidance and case law applies. The key factor is whether the company is managed and
controlled from Ireland. In determining this, a company should consider the following:
- does it have a physical presence in Ireland (premises, staff);
- are a majority of the directors resident in Ireland;
- does the board meet frequently in Ireland;
- are all key decisions taken in Ireland; and
- are all major contracts and other similar company documents signed in Ireland.
There are a number of tax incentives and provisions in place that make Ireland an attractive location to locate
a holding company:
- extensive tax treaty network;
3. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
- exemption on gains arising from the disposal of shares in trading companies based in other tax treaty
countries (criteria apply);
- dividends from trading companies based in other tax treaty countries taxed at 12.5%
- no withholding tax on dividends and onshore pooling available
- no transfer pricing (other than for very large companies) or thin capitalisation rules
- incentives to create and acquire Intellectual Property
LEGAL ISSUES RELATED TO ESTABLISHING A COMPANY
LTD companies need to have at least one shareholder (whose liability is limited, as noted above) and at least
one director (DAC companies need at least two). That director (or at least one director in the case of a DAC)
must be resident in the EEA (the EU plus Norway and Liechtenstein). It is possible to avoid this requirement
by putting in place an insurance bond, though this would weaken a company’s case for Irish tax residency.
Companies also need a company secretary. The company secretary can be an individual or a body corporate
and can be resident anywhere. If the company has only one director, that individual cannot also act as
company secretary.
All companies need a registered office.
It is possible to engage nominees to act as local directors and company secretaries and to provide a registered
office.
It typically takes c.4 weeks from start to finish to incorporate a company, though it is possible to fast-track this
process.
CULTURAL CONCERNS RELATED TO ESTABLISHING A COMPANY
There are no specific cultural concerns to be considered when establishing a company in Ireland.
OTHER COUNTRY-SPECIFIC ISSUES RELATED TO ESTABLISHING A COMPANY
The ongoing compliance requirements for a company are as follows:
- submit an Annual Return to the Companies Registration Office (CRO) which lists the company’s officers and
shareholders
- prepare a set of statutory financial statements and submit to the CRO alongside the Annual Return. The
level of disclosure required in those financial statements is dependent on the size of the company (or group).
Small companies/groups meet two of the following conditions: balance sheet <€4.4m, turnover <€8.8m
and <50 employees. They file only a summary balance sheet and some notes. Medium companies meet two
of the following conditions: balance sheet <€10m, turnover <€20m and <250 employees; and file a summary
income statement and full balance sheet. Large companies have no disclosure exemptions. Statutory audits
of the financial statements are required for medium and large companies and groups and for any companies
who are not up to date with their CRO filing requirements
- update the CRO in a timely manner about any changes to the company’s address, officers, company type,
etc.
4. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
PERMANENT ESTABLISHMENT IN IRELAND:
BRANCH OR SUBSIDIARY?
DEFINITION OF A PERMANENT ESTABLISHMENT
There is no definition under Irish company law of what constitutes either a ‘permanent establishment’ or a
‘branch’.
The Companies Registration Office (CRO) provides the following guidance:
“There is no definition of the term ‘branch’. It is a concept of Community law whose meaning is ultimately to be
determined by the European Court of Justice. There is some European case law which would support the view
that a branch is a place of business, which has the appearance of permanency, such as an extension of the
parent body, has a management and is materially equipped to negotiate business with third parties, without
resource to the parent body, the head office of which is abroad.”
DEFINITION AND MAIN DIFFERENCES BETWEEN A BRANCH AND A SUBSIDIARY
A subsidiary is a separate legal entity, whereas a branch is not.
The primary advantages of establishing a subsidiary in Ireland through which to trade are as follows:
- the parent company can avail of limited liability which significantly reduces its exposure
- there is scope to maximise tax planning opportunities
- if there is an intention to sell the Irish operation in the future having a standalone company will facilitate this
The advantages of trading through a branch are the lower compliance costs (both initial and ongoing).
TAX AND ACCOUNTING OBLIGATIONS
An Irish branch of a foreign company will be required to register for all applicable taxes, likely VAT, payroll
taxes and Corporation Tax.
- a branch should withhold payroll taxes from any Irish employees (under the PAYE system)
- a branch should operate VAT in line with its local obligations (which will vary widely based on the nature of
the business)
- a branch will be liable to Irish Corporation Tax (12.5% on trading income) on its taxable profits
A branch does not have an obligation to prepare statutory financial statements, however a separate income
statement will be required in order to calculate the branch’s taxable profit.
REGISTRATION FORMALITIES
A foreign company establishing a branch in Ireland is required to register that branch with the CRO within 30
days. It must provide the following information and documentation:
5. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
- completed registration form
- certified copy of the constituting documents of the company
- copy of the company’s certificate of incorporation
- copies of the latest accounting documents
- translations to English of the above if required
In order to register a branch the company must nominate an Irish-resident individual who will:
1. be responsible for ensuring compliance with branch regulations
2. be available to accept process on behalf of the company
It is possible to engage a nominee to fulfil this role.
STANDARD LEGAL OBLIGATIONS AND FORMALITIES FOR A BRANCH
A branch should report any changes to the following to the CRO within 30 days:
- a change to the constituting documents of the company
- a change to the directors, secretaries or other authorised representatives of the company
- a change to the branch’s address in Ireland
A branch must also file an annual return with the CRO along with the latest accounting documents of the
company.
6. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
HOW TO HIRE MY FIRST EMPLOYEE IN IRELAND
MAIN LEGAL STEPS TO FOLLOW TO HIRE A FIRST EMPLOYEE
• Employer must be registered with Irish tax authorities (Revenue).
• If employee does not have a PPS (social security) number they must apply for one from the Department
of Social Welfare.
• Employer must comply with national minimum wage – currently €8.65 per hour for an “experienced adult
employee” i.e. an employee who has an employment of any kind in any 2 years over the age of 18
(National Minimum Wage Act 2000).
• Employees must be given a written statement of terms of employment within two months of starting
work – generally this is issued as part of the employment contract (Terms of Employment (Information)
Acts 1994–2012).
• Employers are responsible for making the correct statutory deductions of tax, Pay Related Social Insurance
(PRSI), Universal Social Charge (USC) and Local Property Tax (LPT) from their employees’ wages and
remitting these to Revenue using the PAYE system. Employers must also pay employer’s PRSI
contributions.
• Employers are responsible for ensuring that employees are given adequate rest under The Organisation of
Working Time Act 2007.
• Employees have annual leave entitlements from the time they start work. Most full-time employees are
entitled to 4 weeks’ paid annual leave per year. Part-time workers’ entitlement is generally calculated as
8% of the hours worked subject to a maximum of 4 working weeks per year. Employers can determine the
timing of annual leave, taking into consideration work and personal requirements.
• Employers are obliged to allow employees to avail of statutory protective leave, such as maternity leave,
health and safety leave, parental leave, adoptive leave and carer’s leave. There is specific legislation
setting down the rules for each entitlement.
• Employers have a duty to ensure employees’ safety, health and welfare at work as far as is reasonably
practicable (Safety, Health and Welfare Act 2005).
DESIGN AND CONTENTS OF AN EMPLOYMENT CONTRACT
The Terms of Employment (Information) Acts 1994–2012 provide that an employer is obliged to provide an
employee with a written statement of terms of employment within the first 2 months of the commencement
of employment. However, this requirement does not apply to an employee who has been employed for less
than a month.
The statement of terms must include the following information:
• The full name of employer and employee
• The address of the employer
• The place of work
• The title of job or nature of work
• The date the employment started
• If the contract is temporary, the expected duration of the contract
• If the contract of employment is for a fixed term, the details
• Details of rest periods and breaks as required by law
• *The rate of pay or method of calculation of pay
• The pay reference period for the purposes of the National Minimum Wage Act 2000
• *Pay intervals
• *Hours of work
7. DOING BUSINESS IN
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An Independent Member of PrimeGlobal
• *That the employee has the right to ask the employer for a written statement of his/her average hourly rate
of pay as provided for in the National Minimum Wage Act 2000
• *Details of paid leave
• *Sick pay and pension (if any)
• *Period of notice to be given by employer or employee
• *Details of any collective agreements that may affect the employee’s terms of employment
* In the case of these items instead of giving each employee the details in writing, the employer may refer an
employee to other documents, for example, a pension scheme booklet or a collective agreement, provided
that the employee has easy access to such documents.
The statement of terms must indicate the reference period being used by the employer for the purposes of
the calculation of the employee’s entitlements under the National Minimum Wage Act 2000. (Under that Act
the employer may calculate the employee’s minimum wage entitlement over a reference period that is no less
than one week and no greater than one month).
While the statement of these terms must be signed and dated by the employer, there is no requirement for
the employee to sign it. The employer must keep a copy during the period of the employee’s employment and
for at least a year after it ceases.
CAN SOMEBODY DO BUSINESS FOR ME AND NOT BE AN EMPLOYEE?
Yes. This would be an independent contractor. It is important to distinguish between an employee (contract
of service) and an independent contractor (contract for service), as protection of employment legislation does
not apply to independent contractors (with the exception of the Safety Health and Welfare at Work Act 2005
and the Equality Act 2004).
The following is a summary of the essential differences between a Contract of Service (employee) and a
Contract for Service (independent contractor):
Contracts Of Service
• Employer-Employee relationship.
• Usually a continuous relationship.
• A duty of care owed to employees, as the employer.
• The employer is generally liable for the vicarious acts of employees.
• Protective legislation applies to contract.
• Wages/Salary payment method.
• Subject of contract is to carry on continuous work.
Contracts For Service
• Employer-Independent Contractor relationship.
• A relationship organised around the completion of a once-off piece of work.
• A duty of care, arising from occupiers’ liability.
• The employer is generally not liable for the vicarious acts of independent contractors.
• In general, protective legislation does not apply, except for the Safety Health and Welfare at Work Act 1989
and the Equality Act.
• Various methods of payment, including lump sum per job.
• Subject of contract is once-off job.
8. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
HOW TO READ FINANCIAL STATEMENTS IN IRELAND
FINANCIAL STATEMENT (LOCAL LANGUAGE + ENGLISH)
Set out from overleaf is a template set of audited financial statements for a large company, prepared
in compliance with Irish GAAP and Irish Company Law. Smaller companies may be eligible to avail of
certain disclosure exemptions.
Financial statements in Ireland comprise a profit and loss account, balance sheet and cash flow
statement, plus the related notes.
Also required are the related notes, as well as a directors’ report, a statement of directors’
responsibilities and an audit report, examples of which are included at the end of this document.
9. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
Irish LTD Company
Profit and Loss Account
Year Ended 30th June 2015
€ €
Note 2015 2014
Turnover 2 2,967,825 2,856,646
Cost of Sales (2,199,114) (2,043,816)
Gross Profit 768,711 812,830
Distribution expenses (126,869) (125,438)
Administrative expenses (364,920) (373,306)
491,789 498,744
Operating profit 276,922 314,086
Profit on disposal of fixed assets (2,500) -
Profit on ordinary activities before interest 279,422 314,086
Interest receivable 3 - -
Interest payable and similar charges 4 (7,766) (7,621)
Profit on ordinary activities before taxation 271,656 306,465
Tax on profit on ordinary activities 8 (26,773) (30,333)
Profit for the financial year 244,883 276,132
The turnover and operating profit relate to continuing operations as no businesses
were acquired or disposed of in 2015 or 2014.
A separate Statement of Total Recognised Gains and Losses is not required, as there are no
gains or losses other than those reflected in the Profit and Loss Account.
10. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
Irish LTD Company
Balance Sheet
As at 30th June 2015
€ €
Note 2015 2014
Fixed Assets
Tangible assets 9 432,129 119,358
Financial assets 10 81,270 81,270
513,399 200,628
Current Assets
Stocks 11 393,811 452,325
Debtors 12 285,219 294,457
Cash at bank and in hand 63,829 106,318
742,859 853,100
Creditors: amounts falling due within
one year 13 (353,032) (384,886)
Net current assets 389,827 468,214
Total assets less current liabilities 903,226 668,842
Creditors: amounts falling due after
more than one year 14 (35,372) (45,871)
Net assets 867,854 622,971
Capital and Reserves
Called up share capital presented
as equity 16 1,270 1,270
Profit and loss account 17 866,584 621,701
Total Equity Shareholders funds 18 867,854 622,971
The financial statements were approved by the Board of Directors on (Insert date) and
authorised for issue on (insert date). They were signed on its behalf by
Mr A Director Ms B Director
Director Director
DATE:
11. DOING BUSINESS IN
IRELAND
An Independent Member of PrimeGlobal
Irish LTD Company
Cashflow Statement
For the Year ended 30th June 2015
€ €
Note 2015 2014
Net cash (outflow)/inflow
from operating activities 26 (84,906) 569,301
Return on investments and
servicing of finance
Interest paid (69,095) (57,646)
Taxation
Corporation tax refund/(paid) 6,815 (68,445)
Capital expenditure and financial investment
Payments to acquire tangible fixed assets (63,950) (37,370)
Equity Dividends paid - -
Cash (outflow)/inflow before use of liquid
resources and financing (211,136) 405,840
Financing
Net bank loans repayments (76,248) (76,248)
Movement in cash 27 (287,384) 329,592
On behalf of the board