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Irish resident company

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  • 12-08-2020 8:14pm
    #1
    downtheroad
    Registered Users Posts: 2,810 ✭✭✭


    Hi all,

    If a company is set up and registered in Ireland, has an Irish head office, Irish resident directors, board meetings in Ireland, but has 2 directors who are main management living mostly in Portugal, does this meet the criteria for Irish residency for the entity?


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    #2
    Daxve
    Registered Users Posts: 162 ✭✭Daxve


    https://www.revenue.ie/en/companies-and-charities/corporation-tax-for-companies/corporation-tax/company-residency-rules.aspx

    Any company registered in Ireland after 01.01.15 is deemed to be Irish resident unless it is treated as a tax resident company in another country under a Double Taxation Agreement (DTA).

    The relevant DTA will set out the rules for residency.

    Ireland uses the central management and control test. Revenue will consider the highest level of control to decide where central management and control exists. Certain critical questions are included in this assessment to discover where:

    company policy is decided
    investment decisions are made
    major contracts are defined
    the company’s head office is located
    the majority of directors live.

    If you answered Ireland to all or most of that then in all likelihood it's Irish Resident. The list is not exhaustive and other criteria may be looked at by Revenue. The company does not necessarily have to tick every box to be resident if in doubt the DTA will normally have a process for both countries to agree a position.

    If a company was incorporated before 1 January 2015, there is a transition period up to 31 December 2020. From this date, a company will be deemed to be tax resident unless it is tax resident in another country under a Double Taxation Agreement.


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