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ARTICLE · 21 FEBRUARY 2020

Practice Guide To Corporate Tax 2020

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In the Chambers Global Practice Guide to Corporate Tax 2020, Andrew Quinn and David Burke discuss Irish corporate tax law and practice at key transactional stages for crucial aspects of doing business.

IrelandTax
Andrew Quinn
Andrew Quinn
David Burke
David Burke
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1. Types of Business Entities Commonly Used, Their Residence and Their Basic Tax Treatment

1.1 Corporate Structures and Tax Treatment

Businesses in Ireland tend to incorporate in order to take advantage of the benefits of separate legal entity status and limitation of liability. Ireland enacted amended and consolidated company law legislation in 2014 (the Companies Acts 2014), which provides for the following forms of incorporated entity:

  • private company limited by shares (LTD);
  • designated activity company (DAC);
  • public limited company (PLC);
  • company limited by guarantee (CLG);
  • unlimited company; and
  • investment company.

The limited company has traditionally been, and is likely to remain, the most popular form for incorporated trading business. Companies involved in the issuance of listed debt securities are formed as DACs. Investment funds are incorporated as investment companies or as an Irish Collective Asset Management Vehicle (ICAV).

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