Advanced Direct Tax: International
- 2. Principles of International Tax
- 2.1 Describe what double taxation is and illustrate when it arises
- 2.2 Explain the need and purpose for DTAs, bi-lateral agreements on social security and exchange of information agreements
- 2.3 Summarise the principles of double taxation relief
- 2.4 Describe the legal standing of Ireland’s DTAs
- 2.5 Describe the legal effect of the OECD Model Tax Convention and its commentary
- 2.6 Define, interpret and apply the terms of the OECD Model Tax Convention as it relates to individuals
- 2.7 Analyse the OECD Model Treaty as it applies to business income
- 2.8 Contrast the Irish and foreign tax impact of the use of a representative office, a branch and a subsidiary company and evaluate when each is appropriate
- 2.9 Explain the use of holding companies, IP companies and finance companies in internationally operating businesses and the selection of a location for these. Assess Ireland’s strengths and weaknesses as a location for these activities
- 2.10 Explain CFC rules
- 2.11 Explain some key concepts in international tax including
- 2.12 Explain the concept of, and issues raised by Base Erosion and Profit Shifting (“BEPS”) and analyse the role of the OECD in addressing BEPS and in implementing the BEPS Action Plan
- 3. Transfer Pricing
- 3.1 Outline what transfer pricing is and the impact it can have on group effective tax rates
- 3.2 Apply the key provisions of the Irish transfer pricing regime and outline how Revenue monitors compliance
- 3.3 Explain how the arm’s length principle is applied in accordance with OECD guidance
- 3.4 Explain the Irish Mutual Agreement Procedures and Advanced Pricing Agreement regimes
- 3.5 Analyse what is meant by correlative relief and when correlative relief may be available in Ireland
- 3.6 Explain what Country by country reporting (CBCR) is and how it applies in Ireland
- 4. General Principles of EU Tax Law
- 4.1 Describe the EC Treaty articles of most relevance to tax issues
- 4.2 Outline the impact of the EU Mergers Directive and explain the various reliefs provided for under Irish law
- 4.3 Explain the incidence of withholding tax on income, including the impact of the EU Directives (Parent Subsidiary and Interest and Royalties)
- 4.4 Outline transfer pricing and exchange of information considerations in an EU context
- 4.5 Outline the EU strategy to tackle BEPS
- 5. Secondments and Foreign Employments
- 5.1 Describe what constitutes a foreign employment and how it is charged to tax in Ireland
- 5.2 Describe how the PAYE system can operate in relation to mobile workers and employments not wholly exercised within the State
- 5.3 Compare the different reliefs available in relation to employees of non-resident employers, calculate any relief due, outline its interaction with Double Tax Agreements (DTAs) and outline how the relief is claimed
- 5.4 Describe the tax issues that may apply to outbound and inbound secondments
- 5.5 Describe how the PAYE system can operate in relation to outbound secondees
- 5.6 Advise on the Irish tax implications for non-residents posted abroad on their Irish non-employment sources of income and gains and Irish resident secondees on foreign sources of income and gains, focusing on the remittance basis of taxation
- 5.7 Summarise how changes in residency of a taxpayer affect their taxation in relation to share/share option schemes
- 5.8 Outline the taxation treatment of disposals by temporary non-residents
- 5.9 Modify a secondment proposal so as to avail of all tax reliefs available
- 5.10 Devise an alternative plan for a foreign employee, or a returning expatriate, so as to avail of all tax reliefs available (including relief from double taxation)
- 6. Taxation Issues for Inbound Investment to Ireland
- 6.1 Advise on the threshold of taxation in Ireland for income and chargeable gains and the impact of the tax treaties
- 6.2 Advise on the tax consequences of repatriation of profits from Ireland as interest, royalties, dividends and capital distributions (including liquidation)
- 6.3 Advise on the tax consequences of exiting Ireland
- 6.4 Outline some of the key stamp duty provisions that are relevant in an international tax context
- 7. Taxation Issues for Outbound Investment from Ireland
- 7.1 Outline the key principles for the taxation of foreign income and capital gains
- 7.2 Apply the Irish corporation tax system to the taxation of foreign income to prepare tax computations for interest and royalties that have been taxed at source
- 7.3 Apply the Irish corporation tax system to the taxation of foreign income to prepare tax computations for branch profits
- 7.4 Apply the Irish corporation tax system to the taxation of foreign income to prepare tax computations for foreign dividends
- 7.5 Apply the Irish corporation tax system to the taxation of capital gains attributable to shares and related financial assets
- 7.6 Identify and apply anti-avoidance provisions applicable to overseas investment by an Irish business
- Appendix 1: Summary of provisions for double tax relief for corporation tax
- 8. Property
- 8.1 Describe the Irish income tax and CGT treatment for individuals with foreign property in locations with which Ireland does not have a DTA
- 8.2 Calculate any relief available against any resultant Irish tax liability
- 8.3 Compare the taxation of foreign property transactions (rental, trading or capital) to those involving Irish property
- 8.4 Awareness of taxation method for fund structures holding Irish property
- 11. Offshore Funds
- 11.1 Compare the taxation treatment of regulated and unregulated offshore funds
- 11.2 Distinguish between a passive fund and a PPIU
- 11.3 Explain the Irish taxation of a PPIU
- 11.4 Outline any administrative requirements relating to these investment structures and the penalties associated with non-compliance
- 11.5 Explain the Irish taxation of other investment structures commonly used to invest in foreign property
- 11.6 Modify a proposed investment plan so as to avail of all tax reliefs available
- Appendix I Table of “good jurisdictions” for offshore fund purposes
- Appendix II Offshore funds decision tree