corporate tax system

Although the diplomatic relations between Ireland and Turkey do not stretch back from century old, they have significantly strengthened over the past years. Both the two countries are active members of many European organizations such as the Organization for Security and Co-operation in Europe (OSCE), Organisation for Economic Co-operation and Development (OECD), the Council of Europe, World Trade Organization (WTO) and the Union for the Mediterranean..

Every legal business entity operating in Ireland is obliged to pay VAT, save for a few businesses and individuals who are exempted; fishers, farmers and a few others. VAT is added on to the value of services or products at each stage of production or distribution. It’s rather a clever structure set up by governments to make companies unpaid tax collectors. The upside to VAT is that if your business is VAT registered, you can claim a VAT credit from the Irish Revenue for the tax you paid to other VAT registered entities. Sadly final consumers can only pay VAT but they cannot claim it.

By law, all legal Irish entities are supposed to pay taxes on all chargeable income and gains. Ireland’s Taxes Consolidation Act which was established in 1997 is instrumental in the country’s taxation system. 
 

There are a lot of myths and misconceptions regarding the process of becoming an Irish citizen. The first thing you should know is that there is no standard way of becoming an Irish citizen—the process differs according to nationality, why you want citizenship among other reasons.

In Ireland High Potential Start-Ups or HPSU are those companies with the potential to provide an innovative service or product for sale on global markets and the capability to generate at least 10 jobs and €1m in sales within three years of commencement. In general, HSPUs are those companies with the ability to drive innovation and wealth creation, by developing new products and markets never seen before and generating networks which never existed before.
 

Double taxation often crops up when doing business internationally and can be such a headache to the modern business world. Swiss citizens contemplating of doing business in Ireland will be relieved to know of the 1965 standing treaty that prevents double taxation in the event where a legal entity carries out taxable activities in one of the two states.