Doing Business & Investing In...

IRELAND J

ohn Fisher is an associate director based in Smith & Williamson’s Dublin office and an associate member of the Irish Tax

Institute. John joined Smith &

Williamson in November 2011, having previously worked in the taxation departments of RSM Farrell Grant Sparks (incorporating Caplin Meehan) and Ernst & Young.

A provider of tax advice to companies and individuals, John’s clients have included Irish subsidiaries of many of the world’s leading multi-national companies and prominent Irish companies and their shareholders.

John has significant experience in advising companies on setting up operations in Ireland and also assisting Irish companies in establishing operations outside Ireland. He also has considerable experience in advising individuals and company employees relocating to and from Ireland. John advises on all taxes with a particular emphasis on corporation tax and VAT.

Q

What more can you tell us about your firm?

Smith & Williamson has been managing the financial affairs of private clients and their business interests for over a century. Our focus is on wealth creation, wealth management and wealth preservation – a unique approach that singles us out from our peers and larger competitors. We are one of the top ten largest firms of accountants in the UK and our investment management business has over £14.5billion of funds under management and advice (as at 31 December 2013). The Dublin office is one of 12 offices in Ireland and the UK which have 1,500 people. We have an

62 www.finance-monthly.com Q What makes DOING BUSINESS & INVESTING IN

SMITH & WILLIAMSON JOHN FISHER

“Business costs have decreased significantly in recent years. The decline in labour costs has made Ireland more competitive. There is also more availability of a skilled labour pool.” John Fisher discusses Ireland’s investment appeal.

international capability in over 100 countries through membership of Nexia International.

Smith & Williamson’s Dublin office (previously known as Oliver Freaney & Company) is one of Ireland’s leading firms of Chartered Accountants and Business Advisors. Since our foundation in 1958, we have acquired a wealth of experience in the creation of effective business and financial solutions for clients across all sectors.

The firm’s success has been founded on a combination of expertise, partner-led service, commitment and a dynamic team of highly qualified people. Our wide range of expertise provides our clients with the confidence and knowledge to maximise their business opportunities.

Ireland an attractive investment/business destination?

The attractions of Ireland as a location for establishing a business are numerous as evidenced by the high proportion of foreign owned companies operating in many sectors including social media, software, financial services, aircraft leasing, shared services, medical devices and pharmaceutical . The attractiveness includes Ireland’s location as the gateway to Europe, our time zone, the highly educated population, the ease with which to do business, stable political base and our corporate tax system.

Business costs have decreased significantly in recent years. The decline in labour costs has made Ireland more competitive. There is also more availability of a skilled labour pool. Rents have fallen substantially for commercial offices and there is sufficient quality office space at present at competitive rates.

Ireland has the key skills required to operate international businesses. These skills have been built over the last number of decades through the managing and operating of international businesses that have chosen to locate substantial operations in Ireland.

Ireland has a very active government agency working globally to attract foreign businesses to Ireland. IDA Ireland is responsible for attracting inward investment. There are various supports available including capital and employment grants and R&D grants for research and feasibility studies. IDA Ireland has a property portfolio of business and technology parks which assists with providing the necessary working environment.

There is a vibrant start up community in Ireland which is clustered in a number of locations.

The

work environment that has been created enables these businesses to collaborate with each other and also keep costs low. There is also collaboration between the universities and the business community which enables courses to be designed to result in the attaining of the necessary skills that foreign owned companies require.

entered into between the universities and companies to undertake research projects.

Q

How does Ireland’s tax system fit into the business/investment equation?

Ireland’s tax system has been developed and refined to assist foreign and Irish owned businesses having a robust and clear tax system.

The core pillar of the tax system for companies is the 12.5% corporation tax rate for most trading activities.

There are also partnerships