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The Big Four are the four biggest professional services networks in the world, offering audit, assurance services, taxation, management consulting, advisory, actuarial, corporate finance and legal services. They handle the vast majority of audits for public companies as well as many private companies.
Ernst & Young is a multinational professional services firm headquartered in London, England, United Kingdom. EY is one of the largest professional services firms in the world and is one of the "Big Four" accounting firms.
A special economic zone(SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increased trade balance,employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
PricewaterhouseCoopers is a multinational professional services network headquartered in London, United Kingdom. PwC ranks as the second largest professional services firm in the world behind Deloitte, and is one of the Big Four auditors, along with Deloitte, EY and KPMG.
A multinational corporation (MNC) or worldwide enterprise is a corporate organization which owns or controls production of goods or services in at least one country other than its home country. Black's Law Dictionary suggests that a company or group should be considered a multinational corporation if it derives 25% or more of its revenue from out-of-home-country operations. A multinational corporation can also be referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation, or a stateless corporation. There are subtle but real differences between these three labels, as well as multinational corporation and worldwide enterprise.
The Index of Economic Freedom is an annual index and ranking created in 1995 by The Heritage Foundation and The Wall Street Journal to measure the degree of economic freedom in the world's nations. The creators of the index took an approach similar to Adam Smith's in The Wealth of Nations, that "basic institutions that protect the liberty of individuals to pursue their own economic interests result in greater prosperity for the larger society".
Deloitte Touche Tohmatsu Limited , commonly referred to as Deloitte, is a multinational professional services network. Deloitte is one of the "Big Four" accounting organizations and the largest professional services network in the world by revenue and number of professionals.
Investment management is the professional asset management of various securities and other assets in order to meet specified investment goals for the benefit of the investors. Investors may be institutions or private investors.
Ireland's Corporate Tax System is a central component of Ireland's economy. In 2016–17, foreign firms paid 80% of Irish corporate tax, employed 25% of the Irish labour force, and created 57% of Irish OECD non-farm value-add. U.S.–controlled firms represent almost all foreign firms in Ireland and in 2017 were 25 of the top 50 Irish firms, and 70% of the revenue of the top 50 Irish firms. By 2018, Ireland had received the most U.S. § Corporate tax inversions in history, and Apple was over one–fifth of Irish GDP. Academics rank Ireland as the largest tax haven; larger than the Caribbean tax haven system.
The pharmaceutical industry in India ranks 3rd in the world terms of volume and 14th in terms of value. According to the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, the total turnover of India's pharmaceuticals industry between 2008 and September 2009 was US$21.04 billion. Hyderabad, Mumbai, Bangalore and Ahmedabad are the major pharmaceutical hubs of India. The domestic market was worth US$13.8 billion in 2013.
RSM US LLP is an audit, tax, and consulting firm, focused on the middle market in the United States and a member of the global accounting network RSM International. It is the fifth largest accounting firm in the United States. The firm has over 9,000 employees across 90 cities nationwide providing audit, tax, and consulting services.
Offshore magic circle is the set of the largest multi-jurisdictional law firms who specialise in tax havens, and increasingly in modern corporate tax havens.
Garrigues is a law firm with offices in Spain, Portugal, London, New York, and 9 other countries. Founded in 1941, the firm has experience in a wide range of fields and industries, from traditional practice areas to the newest legal fields. As of July 2015, Garrigues was the second largest law firm in turnover in Continental Europe.
A tax haven is generally defined as a country or place with very low "effective" rates of taxation for foreigners. In some traditional definitions, a tax haven also offers financial secrecy. However, while countries with high levels of secrecy but also high rates of taxation, can feature in some tax haven lists, they are not universally considered as tax havens. In contrast, countries with lower levels of secrecy but also low "effective" rates of taxation, appear in most § Tax haven lists. The consensus around effective tax rates has led academics to note that the term "tax haven" and "offshore financial centre" are almost synonymous.
Economic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two others being political globalization and cultural globalization, as well as the general term of globalization. Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital. Economic globalization primarily comprises the globalization of production, finance, markets, technology, organizational regimes, institutions, corporations, and labour.
Premier Tax Free is part of The Fintrax Group, a financial services company, specialising in multicurrency payments, credit card processing and the management of VAT refunds for tourists. Premier Tax Free provide their services to overseas visitors, international retail groups, hotels and banks around the world. It is the second largest tax refund provider globally, with Global Blue being the dominant leader.
Base erosion and profit shifting (BEPS) refers to corporate tax planning strategies used by multinationals to "shift" profits from higher–tax jurisdictions to lower–tax jurisdictions, thus "eroding" the "tax–base" of the higher–tax jurisdictions.
Dutch Sandwich is a base erosion and profit shifting ("BEPS") corporate tax tool, used mostly by U.S. multinationals to avoid incurring EU withholding taxes on untaxed profits as they were being moved to non-EU tax havens. These untaxed profits could have originated from within the EU, or from outside the EU, but in most cases were routed to major EU corporate-focused tax havens, such as Ireland and Luxembourg, by the use of other BEPS tools. The Dutch Sandwich was often used with Irish BEPS tools such as the Double Irish, the Single Malt and the Capital Allowances for Intangible Assets ("CAIA") tools. In 2010, Ireland changed its tax-code to enable Irish BEPS tools to avoid such withholding taxes without needing a Dutch Sandwich.
For other uses, see BDO (disambiguation).
Ireland is labelled a tax haven or corporate tax haven, which it rejects. Ireland's base erosion and profit shifting ("BEPS") tools give foreign corporates § Effective tax rates of 0% to 3% on global profits re-routed to Ireland via Ireland's tax treaty network. Ireland's aggregate § Effective tax rates for corporates is circa 2–4%. Ireland's BEPS tools are the world's largest BEPS flows, exceed the entire Caribbean system, and artificially inflate the US–EU trade deficit. Ireland's QIAIF & L–QIAIF regimes, and Section 110 SPVs, enable foreign investors to avoid Irish taxes on Irish assets, and can be combined with Irish BEPS tools to create confidential routes out of the Irish corporate tax system. As these structures are OECD–whitelisted, Ireland uses data protection, data privacy laws, and opt-outs from filing of public accounts, to obscure their effects. There is evidence Ireland acts as a § Captured state fostering tax avoidance strategies.