Company Types in Ireland

Limited company is most popular type of company in Ireland.

Tax Status – profit or loss (the difference between income and expenses) is taxed on the level of the company. The applicable tax rate is corporate income tax rate. However, with Ltd. there is a second level of taxation. This second level of taxation takes place when the company pay out the aftertax profits to the shareholders. The payment of aftertax profit is called dividend. In such situation the dividend might be subject to taxation at the dividend tax rate.

Legal Status – the shareholders of an ltd. are not liable for debts or liabilities of the the Ltd. A limited company issues shares.

Tax Status – the LLP has two types of members. One type of members is treated like shareholders in Ltd. and the other type is treated as members of GP.

Legal Status – all members of LLP are shielded from liability or debts of the company.

Tax Status – the LLP has two types of members. One type of members is treated like shareholders in Ltd. and the other type is treated as members of GP.

Legal Status – as with tax position, LP has two types of members. One type of LP members are unlimited members who are liable for the debts of the LP. The other type of LP members are limited members who are NOT liable for the debts of the LP.

Tax Status – unlike Ltd. the profits or loss of a General Partnership are not taxed on the company level, but are passed on to the members of the GP.

Legal Status –members of a General Partnership are liable for the debts of the partnership.

 Tax Rates in Ireland

Corporate income tax rate: 12,5%
Individual income tax rate: 12,5%
VAT tax rate: 23%

VAT tax reduced rate – food, pharmaceticals, books: 13,5%, 9%, 4,8% and 0%.

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Form and Fees

Company Formation Ireland