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Ireland Corporate Tax Rates

SINGAPORE - Tax Exemption Company - Startup

Rates of Corporation Tax:
– 12.5% for trading companies
– 25 % for non-trading income

 

Starups and exemption
An exemption from corporation tax for the first three years:
– a company incorporated after 14th of October 2008 and has commences to trade
– an exemption from Corporation Tax and capital gains tax on the assets used for the trade
– not relief avaible where profits exceed € 60,000

 

tax relief restriction if; the trade was carried on by another person, the trade was carried on by associated company, trading company carrying on trading with: coal, petroleum, agriculture or another exporting activities.

 

Taxable ProfitsYear 2011
Profit not exceeding € 40,000Full exemption
€ 40,000 to € 60,000Marginal relief
> € 60, 000Fully taxable

At the current rate of corporation tax i.e. 12.5% this equates to €320,000 of profits per year. Where corporation tax for the period is between €40,000 and €60,000, marginal relief will apply. The maximum amount of corporation tax relief is €40,000 per annum for 3 years.
In addition to the taxation issues you need to consider there are various other practical and legal matters which should be taken into account when setting up a company and on which you should seek professional advice.

 

 

Open Belize International Business Company (IBC)

Belize_Order_Form_International_Business_Company.docx
DOC document

Incorporate your Beliz IBC. Download the form and send it back to: tomas[at]startupr.com

UK Limited Company – Corporation Tax

Singapore - Tax resident or non-resident?

– company incorporated (resident companies) in the UK (or Foreign) is subject to corporation tax at prevailing rates on their worldwide income (capital and ordinary income)
– company being recognized as a branch (non-resident company carrying on a trade in the UK) is taxed on the income of a branch carrying on a business in the UK and on United Kingdom sourced investment income.
– if you nominate yourself as a director, you will need to pay tax on your salary (subject of all incomes derived from company – benefits in kind, dividend income and other income) and operate PAYE and National Insurance.
– from April 2011 – for accounting periods after 31 March 2010 – all Company Tax Returns must be filed online and payment proceed electronically.

 

Once you set up Limited Company:
– inform HMRC about your activity (form CT41G) this form you can find: www.businesslink.gov.uk/ct/start-a-company
–  tax return is supposed to be completed of the end of the accounting period. fill it online at: www.businesslink.gov.uk/ct/online
– fill and pay the corporation tax
– operate PAYE for employee’s as well as for directors’s income

 

Corporation Tax
– pay your Corporation Tax before the deadline to file your Company Tax Return

 

e.g. Lets say your company’s financial year began on 1st of April 2011 to 31st of March 2012, and your accounting period is the same than you have to pay your Corporation Tax for that period by 1st of January 2013 and file your Company Tax Return for that period by 1st of April 2013.

 

Bear in mind, it’s your responsibility to fill and pay all tax returns on the time. Many people choose to use an accountant in order to manage this. You might get a basic help at businesslink.gov.uk.

 

Corporation Tax Rates
Taxable ProfitsYear 2011
Profit not exceeding £ 300,00020%
300,001  – 1,500,000Margin relief fraction 3/200*
On profits over $ 1,500,00026%

* How to calculate marginal relief please visite HMRC.

Open offshore company (IBC – International Business Company) in Panama

 

The Republic of Panama known as Panama has the largest shipping (register a boat, ship, yacht or other marine vessel) and maritime registry in the world. The biggest reason is the easy way how proceed the registration and very low government fees. International Business Companies (IBC) is commonly used for stock trading, real estate, boats, and air crafts. The income tax of Panama IBC applies for companies operating a business within the Panama territory where the net income derived. Income derived from outside of the territory is not considered as subject – not taxable of local Law.

– The oldest and largest open ship registry
– Strategic geographical position for your business
– Ships with owners of any nationality
– No requirements for annual tax return or financial statement

Highlights
– no tax on Offshore Profits
– min number of shareholders – on
– min number of directors – three (Startupr can provide 2 directors)
– company secretary required
– no local director is needed
– no annual return and accounts filling is required
– minimum annual tax/license fee of 250 US$

If you are about to open your offshore company with Startupr, please feel free to download an order form and send it to: tomas[at]startupr.com

Open Panama International Business Company (IBC)

Incorporate / Open / Found your Panama International Business Company (IBC). Download the form and send it back to us: tomas[at]startupr.com

Start your business in Mexico

The United Mexican States –  commonly known as a Mexico have thirty-one states; recognized as 13th largest economy according to nominal GDP; almost every year with export of 50% to USA and Canada.

Principal business entities:
– corporation (Limited) – SA
– Limited Liability Compnay – SRL

Taxes in Mexico are divided into:

Federal Taxes
– Taxes on income
– VAT – value added tax
– Import and Export taxes
– Payroll taxes (payable by employee)

Local taxes
– Real property
– Salaries (payable by employee)
– Acquisitions property, M&A

Corporate taxation
– 17,5 % for 2011
– calendar year for income tax purposes

Withholding tax:
Dividends – not imposed withholding tax on dividends

If you would like to read more about the taxation please visite Deloitte and for incorporation/opening new company Startupr.

Mexico – Incorporation of Limited Company

 

Incorporate your Mexican Limited company. Download the form and send it back to us: tomas[at]startupr.com

SINGAPORE – Tax Exemption Company – Startup

Singapore - Tax resident or non-resident?

Requirements for Tax Exempt Company (0% tax – 100% of S$ 100,000 taxable income):
0% tax for new Startup can claim for first three financial years

 

– must be incorporated in Singapore
– must be a tax resident in Singapore (if the business is exercised in SG)
– can’t have more than 20 shareholders

Tax exemption & partial tax exemption for First Three Years  (in S$)
Financia yearsTaxable IncomeRelative expressionTax Rate
1<0 – 100,000>100%0%
next(100,000 – 300,000>50%8.50%
next(300,000 – 2,000,000>17%

Partial Tax Exemption – 8,5% tax – 50% of an amount >S$ 100,000)
If your Startup doesn’t meet the qualifying conditions under this scheme, your Startup will be given the partial tax exemption status – 50% exemption is given from the chargeable income.
Tax and partial tax exemption – read more here.

Partial tax exemption after First Three Years  (S$)
Financia yearsTaxable IncomeRelative expressionTax Rate
after 3 years<0-300,000>50%8,5%
after 3 years(300,000 – 2,000,000>17%

If the company reports losses or has no income in any of the first three years
– your chargeable income and tax payable will be nil and you can’t enjoy the benefit of exemption scheme for new Startup company. Three years are consider since you
establish your Startup. If you company has not commenced any business for first two
years you have left one year of tax exemption.

 

Income Tax Audit exemption
– number of corporate shareholders is lower than 20 and with annual revenue less than S$ 5,000,000
– dormant companies (without any accounting evidence)

 

Corporate Income Tax Rebate and SMEs Cash Grant

 

Singapore government has realized the need of SME for that reason offers two different cupport (depending on whichever amount is higher):

 

Rebate for a Corporate Income Tax
– Startupr can claims 20% corporate income tax rebate on income tax for financial year 2011 (subject to a cap of S$ 10,000)

 

SMEs Cash Grant
– 5% of the Starupr’s revenue (subject to a cap of S$ 5,000)
read more here.

Do you want to know our pricing policy on Singapore Limited Company? Click.

Switch your company incorporation service to Startupr

What does "KYC" mean?

Are you Unhappy with high fees or irresponsible service from your current incorporation / formation provider?

 

Here are a few examples of our pricing policy:

 

Hong Kong:
– formation fee – 89USD + government fee – 600USD (since 1st of August 2011)
– registered office fee – 150USD
– company secretary – 150 USD
– annual return (gov fees included) – 60 USD

 

Note: These fees are mandatory once you are about to open your office in HK.
Read our HK option.

 

Seychelles:
– formation fee – 89USD + government fee – 100USD
– registered office fee – 389 USD

 

Note: Here is being consider a government fee as a yearly cost of 100 USD + our fee and registered office fee.
Read our Sey option.

 

Singapore:
– formation fee – 89USD + government fee – 270 USD
– registered office fee – 169USD
– company secretary – 550 USD
– local director 2000 USD

 

Note: SG address, local director and secretary are necessary in order to incorporate your company.
Read our SG option.

 

We do charge you for the service you order. NO hidden cost or additional charges. We are open with our pricing policy. Just open our order list where you want to incorporate and compare the structure and explanation text with our competitors. E.g. One of the typical hidden cost is an “annual return” or hire fees for next year of services. We will answer all your questions!

 

email: tomas[at]startupr.com