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Simple question about tax liability - new company

  • 10-03-2014 2:12am
    #1
    fish with the biggest
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi

    I am hoping someone can answer these simple question.

    Income
    • My new Irish company makes EUR 1000 this month.

    Costs
    • I pay EUR 800 to my offshore software developers.
    • I pay myself a wage of EUR 100. I am resident in Singapore at the moment.
    • Internet, rent, etc. is charged to the company as an expense. Let's say this is EUR 51 in total.

    Company profit
    • I have EUR 49 left in the company bank account at the end of the month.

    Questions:

    The tax I must pay is:
    • Tax in Singapore only on my Irish wage as I am not currently resident in Ireland.
    • Corporation tax on the EUR 49 remaining at the end of the month.

    Is this roughly correct? I will of course get confirmation from an accountant.

    Thank you for your advice.


Comments

  • #2
    Citizenpain
    Registered Users, Registered Users 2 Posts: 2,005 ✭✭✭Citizenpain


    Are you sure your Ltd Company is tax resident in Ireland ? - Corporation tax residency is cmplicated enough - talk to your accountant


  • #3
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Citizenpain wrote: »
    - talk to your accountant

    THIS

    Read the charter. Thread closed.


This discussion has been closed.
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