Discuss the issues in the taxation of business investment abroad.
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Taxation issues to be considered when making investments
The environment for investing has changed significantly over the last number of years. In addition the application of tax to income and gains on such investments has also varied, in particular in the context of the rate of tax applicable. The manner in which people use funds to make investments will depend on factors such as the type of investment to be made, the length of time the funds are to be invested, the future plans of the individual and the tax history of the individual (if they have significant levels of personal losses carried forward from prior years that they might use to offset future gains on investments).
Given that the return on cash deposits is currently so low, it might be viewed that it is uneconomical to leave savings sit in a deposit account. In addition, the DIRT rate is now 41% and for individuals, interest income is also subject to PRSI at 4% which brings the effective tax rate to 45% on deposit interest. The high level of tax rates now applicable to a lower return has resulted in some investors looking to alternative investment options. ....
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