Navigating tax compliance

The tax compliance obligations for Irish regulated funds can be both extensive and dynamic, with a myriad of obligations at the fund, investor, and investment levels.

In this comprehensive report, Jorge Revilla and our Asset Management team provide a clear overview of the various obligations that can apply to each different type of Irish regulated fund vehicle, providing clarity and guidance for any promotor or other stakeholder who wants to understand what will be required from a tax perspective.

Background
 

The funds and asset management industry in Ireland has witnessed significant growth over the past three decades, establishing the country as a preferred domicile for fund vehicles. With over 17,000 professionals and nearly 9,000 funds domiciled in Ireland, the industry's impact on the national and global economy is substantial.

The report highlights the various legal vehicles available. At the core of the report is a detailed analysis of the tax compliance obligations that arise at different levels. Fund level compliance includes obligations such as tax registration, VAT compliance, and filing of Investment Undertaking Tax returns.

Investor level compliance focuses on reporting services for regimes across the UK, Austria, Switzerland, and the US, among others. Investment level considerations encompass withholding tax efficiency analysis and assistance with tax documentation.

Fund HUB
 

The report also sheds light on the KPMG Fund HUB, a pivotal resource for funds seeking to navigate the complexities of tax compliance. The HUB offers a centralised platform for funds to access expert advice and services tailored to their specific needs.

As the industry continues to evolve, so too do the tax compliance requirements. This report serves as an essential resource for funds operating within this dynamic environment, ensuring they remain compliant and ahead of the curve.