Irish Transfer Pricing Rules

Ireland has to a large extent, a light touch transfer pricing regime.

Irish legislation governing transfer pricing is to be found in Sections 835A to 835H Taxes Consolidated Act 1997.

Under Irish legislation the following is excluded from transfer pricing regulation:

  1. Small and medium enterprises with staff of less than 250 and either has turnover under €50 Million or assets under €43 Million,
  2. Grand fathering arrangements put in place before 1 July 2010 and not changed since
  3. Arrangements between non-associated persons
  4. Non-trading activities

The Irish Revenue do not propose to Read more

Posted on June 14, 2017 by Cooney Carey

Fraud can happen to anyone!

fraud, forensic accounting

Many businesses understate the importance of fraud deterrence, prevention and detection. Don’t follow them. Prevent and detect fraud in your business by following these 5 tips:

  1. Establish a fraud risk management programme – include written policies,
  1. Exposure should be assessed periodically – identify any schemes apparent,
  1. Select, develop and implement prevention and detection techniques – reduce the impact,
  1. Establish a reporting process and approach to investigation – let employees know,
  1. Monitor risk management process and report results and improve process – not one and done exercise, need to be recesses periodically.

All businesses are subject to fraud risks. It can happen in large or small businesses across various industries. Making the company policy known to employees is one of the best ways to deter fraudulent behavior.

The cost of trying to prevent fraud is less expensive to a business than the cost of the fraud that gets committed.

What questions do you have?

We are happy to help. Please post your comment below or contact our friendly team on 01 677 9000 or by email: info@cooneycarey.ie.

Posted on May 2, 2017 by Cooney Carey

3 Key Controls In A Payroll System

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All businesses who employ staff must rely on a series of controls to ensure that their payroll is being accounted for correctly. Depending on the nature and size of the business these controls can range from very basic to very thorough.

Summarised below are some of the basic key controls that should be in place in a payroll system.

1. Separation of duties

Where it is practical, different stages of the payroll process should be carried out by different people. For example, the person who processes the payroll should not be Read more

Posted on April 3, 2017 by Michael O'Halloran

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