Our Consulting team guarantees quick turnarounds, lower partner-to-staff ratio than most and superior results delivered on a range of services.
Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
Our experienced Corporate Finance team has provided a range of transaction, valuation, deal advisory and restructuring services to clients for the past two decades.
Our Digital Risk team offer advisory and consulting solutions that give our clients peace of mind, clear value for money and an enhanced ability to react to cyber attacks.
Our Digital Transformation team work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
Forensic and Investigation Services
Our Forensic and Investigation Services team have targeted solutions to solve difficult challenges - making the difference between finding the truth or being left in the dark.
Objectives and Key Results (OKRs)
Objectives and Key Results (OKRs) is a goal setting framework that helps teams, individuals and organisations set and track measurable goals.
People and Change Consulting
Our People & Change Consulting team help clients adapt to the changing nature of the workforce - how they attract, retain, engage, develop, deploy and lead their people.
Grant Thornton is Ireland’s leading provider of insolvency and corporate recovery solutions.
Our outsourced payroll teams become your dedicated payroll department, aiming to process your payroll in the most cost effective and compliant manner.
Grant Thornton's reliable and cost-effective outsourcing services help you streamline your business operations by taking care of your workload.
Audit and Accounting Advisory
Our Audit and Accounting Advisory team takes the headache out of multi-jurisdictional audit compliance requirements as well as technical compliance with accounting standards and legislation for clients.
Business Process Outsourcing
Grant Thornton’s Business Process Outsourcing (BPO) team serves the needs of rapidly growing mid-tier multinationals operating out of Ireland and other hubs through the provision of services across the full range of finance functions.
Flexible People Solutions
At Grant Thornton, our Financial Accounting and Advisory Services (FAAS) department have a dedicated team that help finance functions maximise efficiency.
Global Compliance & Reporting Solutions
Our Global Compliance & Reporting Solutions service offering covers a full suite of compliance services including financial statement preparation and related filings, dual bookkeeping, direct and indirect tax, statistical returns and payroll.
Global Payroll Solutions
At Grant Thornton, we meet the challenges of our clients. Our Global payroll compliance service offering is tailored to meet all your payroll requirements through a single point of contact.
Grant Thornton Financial Counselling
Grant Thornton Financial Counselling (GTFC) comprises a team of highly qualified professionals who offer financial advice to individuals and corporates across a range of areas including savings, investments, pension planning, and inheritance and succession planning.
Our services on Inheritance Planning mirror those on Succession Planning whereby the foundations of the plan are derived from meaningful conversations with those that wish to pass on or protect their asset base.
Personal Tax Compliance & Planning
The Grant Thornton Personal Tax team helps clients remain compliant and up to date with all of their tax obligations whilst ensuring that they are solutions driven and manage their finances in the most tax efficient way possible.
We have extensive experience guiding our clients successfully through the succession process. This involves advice on both the qualitative and quantitative aspects of the process. While there is a business at the core of each succession plan we advise on, it is all predicated on understanding the people and their respective wishes.
Grant Thornton’s Company Secretarial team contains qualified Company Secretaries. Clients are assured that they will meet all of their obligations under the Companies Acts and other relevant legislation and regulations.
Our Corporation Tax team is made up of more than 40 highly experienced senior partners and directors who work directly with a wide range of domestic, international, and financial services clients. We place a strong emphasis on direct service to clients and we pride ourselves on the close personal relationships we build and the deep understanding of their businesses we develop
Attracting and retaining key talent, managing employment costs and ensuring compliance with complex tax rules presents one of the most serious challenges today for many businesses. You need to ensure that your business complies with increasingly complex tax legislation and can adapt to updated Revenue guidance in a cost-effective way and we are here to help.
Financial Services Tax
The Grant Thornton team is made up of experts who are fully up to date in terms of changing and evolving tax legislation. This is combined with industry expertise and an in-depth knowledge of the evolving financial services regulatory landscape.
Global Mobility Services
Grant Thornton Ireland offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
We develop close relationships with clients in order to gain a deep understanding of their businesses to ensure they make the right operational decisions. The wrong decision on how a company sells into a new market or establishes a new subsidiary can have major tax implications.
The Grant Thornton Tax Advisory team blends commercial experience and knowledge with tax expertise to advise clients on the full range of transactions including sales, mergers, restructurings and succession planning.
Our Tax Incentives team help clients access vital cash funding and tax incentives to enable them to achieve their growth ambition.
Grant Thornton’s team of indirect tax specialists helps a range of clients across a variety of sectors including pharmaceuticals, financial services, construction and property and food to navigate these complexities.
Real Estate Tax Advisory
The Irish real estate market has experienced considerable change in recent years. This has resulted in the emergence of a number of challenges for investors, but has also brought about significant opportunities. With this in mind, taxation is now more than ever one of the key factors for real estate investors when appraising investments, financing methods and development structuring.
The prospect of an EU wide “digital tax” raised its head again this month following recent developments at the OECD.
Are we now closer to implementation of a digital tax across all member states? What impact would this have on Ireland’s offering?
The EU agreed last year to park its digital tax proposals in order to allow global consensus be reached through the OCED digital tax discussions.
Broadly, both the EU and OCED proposals aim to allocate a portion of profits based on the location of consumers, reflecting the increasing value that businesses place on consumer data.
The withdrawal of the US from the OCED’s digital tax discussions increases the likelihood that the EU will now again push ahead with its own proposals.
While things may change again depending on the outcome of the US elections, as noted by Pascal Saint-Amans this week, for the moment the OECD digital tax work is on hold.
In the short term, the impasse at OCED level is also likely to see other countries push ahead with unilateral digital tax proposals. Indeed many EU countries have now either implemented or proposed their own digital tax proposals.
Very broadly, the EU’s original digital tax proposals envisaged a simple 3% turnover based tax as an interim measure subject to reaching agreement on a means of allocating profits based on digital activity. Given the complexities involved in arriving at such a means, the risk is that any interim “quick fix”, such as a flat turnover based tax, could potentially become permanent.
While countries are free to introduce their own digital tax measures, as several have done, implementation of an EU wide digital tax regime would require unanimity across all EU member states. Unanimity could make it difficult to implement as certain countries, including Ireland, are not in favour of the existing EU digital tax proposals.
However, the EU is looking to replace unanimity over tax decisions with a form of “Qualified Majority Voting”. While any such change itself requires unanimity, political factors could lead to the removal of unanimity in the future, potentially paving the way for easier implementation of EU wide tax changes.
While the removal of the requirement for unanimity on significant EU tax decisions is some years away, in practice countries are often reluctant to use a veto to block EU tax proposals. Hence the possibility of an EU wide digital tax in the short to medium term is real.
COVID-19 is also likely to drive countries to look for additional tax revenues to fund spending, with digital tax from large multinationals likely seen as an easy target.
What does it mean for Ireland?
In recent years, many multinational companies (“MNCs”) with substantial operations in Ireland have moved their valuable Intellectual Property (IP) here. Over time, this would be expected to increase corporation tax revenues in Ireland,.
A simple 3% tax on the “digital” revenues of large multinationals would increase the effective tax rate of these companies and thus dilute the benefit of our 12.5% corporate tax rate. Low margin businesses would be impacted most.
From a pure tax perspective, it would make it less attractive to operate from Ireland.
Thus while the movement of IP to Ireland should see an increase in our corporation tax revenues, a new EU wide digital tax could see a pull the other way if it caused some groups to reconsider their Irish presence.
However, even if our tax regime becomes relatively less attractive, our 12.5% tax rate may still make Ireland the most compelling location in Europe in which to do business, which should help us retain key employers.
The EU acknowledges that a 3% turnover based tax is a blunt instrument and that a more refined taxation of digital activity is the end goal.
The OCED had been considering other options, which would involve looking at the level of activities in the selling country in determining an appropriate allocation between the selling country and the market jurisdiction. However it is acknowledged that this is a difficult exercise, potentially involving a rewriting of transfer pricing principles, hence the EU proposal to start with a straightforward 3% turnover based tax.
Ideally, there would be agreement at EU level on a more sophisticated, and accurate, means of profit allocation rather than simply jumping into a turnover based tax regime. While this might take some time to develop, it could be part of negotiations at EU level given that unanimity is required in order to implement any digital tax proposals (although countries would remain free to continue to develop their own digital tax regimes, which is a far from ideal scenario).
A longer term solution that reflects the value added activities taking place in the selling jurisdiction, not simply market jurisdiction factors, would be better for Ireland, as well as encouraging more knowledge based activities to locate here.
If the price of any negotiating on the digital tax proposals is that unanimity over tax decisions is removed, then there is the longer term vista of other EU proposals being pushed through, including the dreaded CCCTB, which would again look to rewrite the rules in terms of the allocation of a group’s profits.
Such moves would be bad for a small open economy such as Ireland, with significant profits diverted to larger market jurisdictions again diluting the benefit of our 12.5% tax rate.
Once again, we are at a critical juncture in terms of global tax rule changes. Developments to date have generally been positive for Ireland. However, it would be dangerous to think that this will continue to be the case.
While in practice our options are limited in terms of influencing the direction of travel, in any future scenario the location of high value-add activities should continue to play a key role in the allocation of a group’s profits.
One thing that is not good for Ireland is uncertainty. Groups cannot make robust plans in an environment of uncertainty. The sooner that there is clarity on digital tax changes, the better from Ireland’s perspective.
Ongoing robust corporate tax receipts evidence the generally positive impact that global tax changes have had in Ireland to date, with a movement away from tax havens to jurisdictions with substance.
If Ireland can continue to maintain a regime that both encourages and rewards innovation, we will be in the best possible place to emerge relatively unscathed from the latest round of changes.