Ireland, Brexit and the UAE
December 30, 2018
In anticipation of Brexit, many Irish companies are looking for back-up solutions as the current situation is unprecedented and the future unknown. A setup in the UAE might be the ideal solution for you.
In July 2010, the Government of Ireland and the Government of the United Arab Emirates signed a tax convention, desiring to promote their mutual economic relations through the avoidance of double taxation and the prevention of fiscal evasion, thus improving the bilateral relations between the two economies.
The main aim of the treaty is the reduction of the taxes charged on the companies which are residents in one of the two countries and the prevention of fiscal evasion with respect to taxes on income and capital gains. If a company performs economic activities in one of the states and is charged locally for the income obtained there, then the resident country must return that amount to the company through the credit method.
Companies are eligible to benefit from the provisions of the tax treaty if they prove to have a permanent establishment in Ireland or the UAE.
Kent Financial Services is based in Ireland and the UAE and has the qualified and experienced professionals to assist you with all your fiscal and financial needs. This family run accountancy business, which originated in Ireland, is run by Beverly (based in Ireland) who has worked with the company for 25 years and her daughter Louise (based in the UAE) who has worked with the company for 5 years while completing her ACCA Professional Exams. They have dealt with a wide variety of clients from a number of different industries and countries.
With knowledge of Irish and European VAT legislation as well as the recent developments in the UAE, Kent Financial Services is well placed to help you manage your fiscal needs in an efficient manner to ensure you avoid any penalties while ensuring fiscal optimization in Ireland and UAE.
Kent Financial Services
Ireland: +353 (87) 202 2109
UAE: +971 (50) 908 3919