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Ireland

Offshores
General information
Tax data
Offshores
Available Officially recognized globally
EU «black list»

The overall objective of the EU lists is to improve the proper tax settlement around the world and to ensure that the EU's international partners adhere to the same standards as the EU member states on tax transparency, fair taxation, and implementation of financial security measures. List criteria have been agreed by Member States in 2016. The "black list" includes countries that have not taken sufficient measures to change legislation and to combat tax evasion at the request of the EU. The "grey" list of the EU includes countries that do not yet meet EU requirements, but have shown that they are ready to change and comply with tax transparency and honesty. As for specific sanctions against countries and their residents, no specific EU decisions have been made, but falling into the "black list" itself can bear reputational risks. In addition, both individual EU Member States and other States and entities can introduce their own restrictive policies with respect to the jurisdictions and/or their residents listed.

EU «gray list»

The overall objective of the EU lists is to improve the proper tax settlement around the world and to ensure that the EU's international partners adhere to the same standards as the EU member states on tax transparency, fair taxation, and implementation of financial security measures. List criteria have been agreed by Member States in 2016. The "black list" includes countries that have not taken sufficient measures to change legislation and to combat tax evasion at the request of the EU. The "grey" list of the EU includes countries that do not yet meet EU requirements, but have shown that they are ready to change and comply with tax transparency and honesty. As for specific sanctions against countries and their residents, no specific EU decisions have been made, but falling into the "black list" itself can bear reputational risks. In addition, both individual EU Member States and other States and entities can introduce their own restrictive policies with respect to the jurisdictions and/or their residents listed.

FATF «black list»

To protect the international financial system from the risks of money laundering and terrorist financing at the international level, the Financial Action Task Force on Money Laundering (FATF) has identified a list of jurisdictions whose national anti-money laundering and terrorist financing regimes have strategic weaknesses that threaten the international financial system. This is the so-called "black list". FATF strongly recommends all states to pay special attention to their financial institutions for business relations and transactions with companies and financial institutions with a "black list" jurisdiction, as well as to the need for enhanced verification of clients when carrying out transactions with entities from these jurisdictions and related persons. The United Nations, the EU, the United States and several other countries and international organizations are taking appropriate sanctions against individuals cooperating with residents from the FATF blacklist. Banks and other financial institutions (including Ukraine) block financial transactions of clients with contractors associated with entities from the "black list" of FATF. Cooperation with contractors, whose partners are persons from these jurisdictions, can be the object of increased attention of the state supervision (control) authorities, and also attract the attention of law enforcement bodies and bear reputational risks.

FATF has also identified a list of jurisdictions which national anti-money laundering and terrorist financing regimes have strategic flaws subject to review by FATF in accordance with agreed milestones and deadlines. This is the so-called FATF "grey list". The FATF recommends all states to pay special attention to their financial institutions to business relations and transactions with these jurisdictions, including their companies and financial institutions, and to the need to verify the client when dealing with entities from these jurisdictions and related persons. Banks and other financial institutions (including Ukraine) conduct financial monitoring of transactions with contractors associated with entities from the FATF "grey list" and, depending on monitoring results, may block financial transactions. Cooperation with contractors partnering with persons from the specified jurisdictions may itself bear reputational risks. It is also possible that individual member states of FATF and other states and subjects of the law may impose restrictions on their own entities and/or their partners.

FATF «gray list»

To protect the international financial system from the risks of money laundering and terrorist financing at the international level, the Financial Action Task Force on Money Laundering (FATF) has identified a list of jurisdictions whose national anti-money laundering and terrorist financing regimes have strategic weaknesses that threaten the international financial system. This is the so-called "black list". FATF strongly recommends all states to pay special attention to their financial institutions for business relations and transactions with companies and financial institutions with a "black list" jurisdiction, as well as to the need for enhanced verification of clients when carrying out transactions with entities from these jurisdictions and related persons. The United Nations, the EU, the United States and several other countries and international organizations are taking appropriate sanctions against individuals cooperating with residents from the FATF blacklist. Banks and other financial institutions (including Ukraine) block financial transactions of clients with contractors associated with entities from the "black list" of FATF. Cooperation with contractors, whose partners are persons from these jurisdictions, can be the object of increased attention of the state supervision (control) authorities, and also attract the attention of law enforcement bodies and bear reputational risks.

FATF has also identified a list of jurisdictions which national anti-money laundering and terrorist financing regimes have strategic flaws subject to review by FATF in accordance with agreed milestones and deadlines. This is the so-called FATF "grey list". The FATF recommends all states to pay special attention to their financial institutions to business relations and transactions with these jurisdictions, including their companies and financial institutions, and to the need to verify the client when dealing with entities from these jurisdictions and related persons. Banks and other financial institutions (including Ukraine) conduct financial monitoring of transactions with contractors associated with entities from the FATF "grey list" and, depending on monitoring results, may block financial transactions. Cooperation with contractors partnering with persons from the specified jurisdictions may itself bear reputational risks. It is also possible that individual member states of FATF and other states and subjects of the law may impose restrictions on their own entities and/or their partners.

OECD «black list»

The Organization for Economic Co-operation and Progress (OECP) has produced internationally agreed standards for the exchange of information on request (EOIR) for tax purposes. OECP carries out a rating of jurisdictions on compliance with these standards and the existence of risks associated with compliance with tax laws. Cooperation with contractors, partnering with persons from jurisdiction, do not meet the specified standards (the so-called "black list" of the OECP") itself can bear reputational risks. It is also possible that individual OECP member states and other states and subjects of law may impose restrictions on their own entities and/or their partners. Sanctions against any entities due to their belonging to the OECP "grey list" (jurisdictions that partially comply with the standards of information exchange for tax purposes) and/or their partners do not exist. At the same time, cooperation with contractors, partnering with persons from jurisdiction, do not fully comply with the standards of transparency of the OECP tax information clearly can not be considered an advantage.

OECD «gray list»

The Organization for Economic Co-operation and Progress (OECP) has produced internationally agreed standards for the exchange of information on request (EOIR) for tax purposes. OECP carries out a rating of jurisdictions on compliance with these standards and the existence of risks associated with compliance with tax laws. Cooperation with contractors, partnering with persons from jurisdiction, do not meet the specified standards (the so-called "black list" of the OECP") itself can bear reputational risks. It is also possible that individual OECP member states and other states and subjects of law may impose restrictions on their own entities and/or their partners. Sanctions against any entities due to their belonging to the OECP "grey list" (jurisdictions that partially comply with the standards of information exchange for tax purposes) and/or their partners do not exist. At the same time, cooperation with contractors, partnering with persons from jurisdiction, do not fully comply with the standards of transparency of the OECP tax information clearly can not be considered an advantage.

Available Recognized in Ukraine
Ordinance of the CMU

In 2017, the Tax Code of Ukraine (Article 39) clarified the calculation of income tax in transfer pricing. On Dec. 27, 2017 the Cabinet of Ministers of Ukraine adopted a new List of relevant states (territories). This list includes 63 of 65 offshore companies defined by the previous List of Offshore Companies (Order of the Cabinet of Ministers of September 16, 2015, No. 977-r was canceled), as well as a number of other states/territories (85 in total). Some of these states are not "classical offshore companies" in the conventional sense, however, belonging of the non-resident contractor to them is a sign for classifying economic transactions with it as "controlled" and applying the relevant principles of tax adjustment. Initially, Bulgaria, Georgia, Estonia, Latvia, Malta, and Hungary were included in the List, but subsequently they were excluded by the Cabinet of Ministers Decree No. 108 dated 31.01.2018, dated 11.04.2018 No. 295. In accordance with the procedure for conducting counter-checks by the controlling authorities (Cabinet of Ministers Decree No. 1232 of December 27, 2010), the controlling authorities may conduct the necessary counter-checks to obtain tax information needed when conducting taxpayer audits. In particular, regarding contractors participating in the supply chain of goods (works, services) that are the subject of controlled operations. Information obtained as the result of such checks may be the basis for conducting appropriate unscheduled inspections and/or appealing to law enforcement agencies.

Ordinance of the CMU

In accordance with paragraph 1 of the first part of Article 15 of the Law of Ukraine “On Prevention and Counteraction of Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing the Proliferation of Weapons of Mass Destruction” to include states in the list of offshore zones in accordance with the annex of the Cabinet of Ministers "On the classification of states to the list of offshore zones" dated 23.02.2011 No. 143-r for the purposes of financial monitoring, includes some states to offshore zones.

Banks and other financial institutions of Ukraine carry out financial monitoring of transactions with contractors from these jurisdictions and, depending on the results of monitoring, have the right to stop the implementation of the financial operations for 2 business days. The State Financial Monitoring Service, in case of suspicion, may decide to suspend expenditure financial transactions for up to 5 business days. In addition, if the State Financial Monitoring Agency suspends financial operations, the law enforcement agencies authorized to make decisions in accordance with the Criminal Procedure Code of Ukraine are immediately notified. Thus, cooperation with contractors, which include individuals from the "offshore list" of Ukraine, can attract the attention of law enforcement agencies and bear reputational risks.

Загальна інформація

The island of Ireland is situated in Northwest Europe and is approximately 20 kilometres from Great Britain at its nearest point. The total area of the island is 84,421 square kilometres of which Northern Ireland (politically part of the United Kingdom) comprises 14,139 square kilometres, with the remainder constituting an independent parliamentary democracy called Ireland. Ireland has a population of approximately 4.635 million people, with the greatest concentration being on the east and south coasts. The capital of Ireland is Dublin. Its official languages are Irish and English. Business is conducted in English, and the currency is the euro (EUR).

Ireland is a parliamentary democracy. The basic law of the country is contained in the Constitution of Ireland, adopted in 1937 and amended on a number of occasions since then by public referenda. The Constitution sets out the fundamental rights of the citizen, the form of government, and the powers of the government. It also defines the system of courts and regulates the appointment of the judiciary. The national parliament consists of the president and two houses: a house of representatives (Dáil Éireann) and a senate (Seanad Éireann). The President is Head of State only and does not have executive functions. Executive power is exercised by the Prime Minister (Taoiseach) and the cabinet, while the power of making laws rests with parliament.

The political environment is stable and has, over recent decades, been dominated by parties of a centre or a centre right persuasion. Ireland is a member of the European Union (EU) and is also a member of most major international organisations but retains a neutral stance on military matters.

Government economic policies are directed towards the creation of a stable economic environment that is supportive of the needs of business. In the 2018 Index of Economic Freedom, Ireland was ranked sixth in the world and second in the European Union. Ireland was also ranked as the 13th most globalised nation in the world in the Globalization Index 2018. Ireland was voted the most effective country in Europe, and the fourth most effective in the world, to pay taxes in, according to Paying Taxes 2018 - The Global Picture (World Bank, IFC, & PwC). This report covers 189 countries worldwide and looks at all taxes paid by businesses, using broad principles from PwC’s Total Tax Contribution Framework.

Ireland was ranked eighth in Forbes 2018 list of Best Countries for Business. It is the only country to rank among the top 15% of nations in each of the metrics used by Forbes in their rankings. Ireland was among the top rankings for monetary freedom, low tax burden, investor protection, and personal freedom.

Податкова інформація
Corporate income tax due dates
CIT return due date Within nine months after the end of the tax accounting period.
CIT final payment due date Within nine months after the end of the tax accounting period.
CIT estimated payment due dates Small companies: first instalment is due 31 days before the end of the tax accounting period*, and final instalment is due when the tax return is filed;
Large companies: first instalment is due six months from the start of the tax accounting period*, second instalment is due 31 days before the end of the tax accounting period*, and final instalment is due when the CIT return for the period is filed.
* No later than the 23rd day of the month.
Standard VAT rate (%) 23
Withholding tax rates (%) (Dividends / Interest / Royalties)
Resident: 0 / 20 / 20
Non-resident: 20 / 20 / 20
Corporate income tax rate (%) Trading corp.: 12.5;
Non-trading corp.: 25
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