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Income Tax Question relating to Directors.

  • 25-09-2011 2:06pm
    #1
    Slim Shady
    Registered Users, Registered Users 2 Posts: 28 ✭


    Hello all,
    I have a quick question for ye,
    A company with two directors one with 100% shareholding and another with no shareholding.

    Okay, Now here's the question, Do any of the directors have to file a tax return even though they are taking NO money from the company and there are NO employees as they only want to generate operating capital for the first year.

    Thanks


Comments

  • #2
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    Slim Shady wrote: »
    Hello all,
    I have a quick question for ye,
    A company with two directors one with 100% shareholding and another with no shareholding.

    Okay, Now here's the question, Do any of the directors have to file a tax return even though they are taking NO money from the company and there are NO employees as they only want to generate operating capital for the first year.

    Thanks

    Anyone who is a proprietary director (owns >15%) is a chargeable person and obliged to file a Form 11.

    http://www.revenue.ie/en/practitioner/tax-briefing/archive/62/tb05.htm


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