DuTec can offer its clients a full range of financial services, from basic reporting to the setting up and running of a legal entity for the client.
Ireland is home to a large number of US technology companies including Microsoft, Google, AOL, Intel & Dell. There are a number of key reasons why these companies originally decided to locate in Ireland. Ireland has proven to be the most “US friendly” country in Europe. The Irish business climate and work culture is the closest in Europe to that of the US. It is an English speaking country that has the Euro as its base currency. Ireland’s employment legislation is the closest in Europe to that of America.Tax policy has always been a central decision to US companies deciding to locate in Ireland.
The Corporation Tax rate in Ireland is a flat 12.5% on all trading income. It is estimated that US corporations using Ireland as a tax planning location have saved €10 billion in taxes. US companies are taxable in the US on their worldwide incomes, but tax planning allows companies to only be subject to US taxes on profits actually repatriated from Ireland back to the US. The difference between effective tax rates of 35% and 12.5% is very dramatic to the bottom line performance of any business. No amount of operational efficiencies can yield the same savings as an effective tax structure. Ireland offers an excellent proposition for the creation of a highly efficient tax structure.
In order to set-up a suitable tax structure, it is necessary to create an Irish legal entitiy – typically this would be a limited liability company. DuTec can provide a full and comprehensive service to set-up and operate such a legal entity on behalf of its clients. Such services include…
- Creation of legal entity
- Provision of registered address, and local directors if required
- Creation of bank accounts
- Provision of dedicated financial software
- Provision of shared or dedicated financial staff, from junior Accounts Clerks to senior Financial Controllers
- Management of Invoicing, Credit Control & Accounts Receivable, Accounts Payable, Inventory, Bank reconciliation
- Full suite of financial reporting and nominal ledger management