"Am I missing any opportunities? I need to deliver a tax strategy which consistently delivers optimal savings while also ensuring robust compliance"
The Commission on Taxation has focused attention on environmental and employment-related tax recommendations among others. Introduction of the recent intellectual property regime has also created much debate on the scope of the definition of ‘intellectual property’. This can range from more traditional brands and trademarks to the less obvious ‘know-how’ and website domain names. It’s worth considering planning opportunities in this area.
From a tax planning perspective a number of companies have achieved significant cost savings through supply chain reorganisations. We’ve found these to be most effective where tax and trading/ logistic partners are working together to fully assess the impact of any proposed changes. Planning and tax-efficient financing opportunities also exist around property and pension schemes, both corporate and personal.
A number of companies have also identified impressive levels of quick win savings by reviewing the tax efficiency of their working capital cycle. From a compliance perspective employment taxes particularly termination payments and international assignees continue to attract Revenue attention while PAYE and VAT also remain focus areas.
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