Government measures in key jurisdictions 2nd edition final pages - Flipbook - Page 54
Ireland
•
Corporation tax returns for accounting period ending 30 June 2019 onwards (i.e.
due by 23 March 2020 onwards) will not be subject to a late filing surcharge until
further notice and late filing due to COVID-19 will not result in the usual restriction
of reliefs, such as loss and group relief. In addition, various other tax filing deadlines
have been extended, in particular in respect of employer returns regarding certain
benefits supplied to employees (such as employee share schemes).
•
Close companies with accounting periods ending from 30 September 2018 onwards
are required to make distributions by 31 March 2020 onwards to avoid a close
company surcharge. These companies can apply to extend the 18-month distribution
period by 9 months where the company is affected by COVID-19 and needs to retain
cash to support the business.
•
A benefit-in-kind will not arise for employees where employers:
– provide employees with equipment to allow them to work remotely,
– reimburse flight or holiday cancellations for employees integral to the business, or
– supply temporary accommodation to employees to mitigate the risk of
transmission of COVID-19.
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54
Company
law matters
•
Have any measures
been put in place
to accommodate
social distancing
(such as remote
•
general meetings)?
The Irish Government has not put in place any measures which may accommodate
social distancing in relation to corporate meetings but have recommended, in their
COVID-19 Workplace Protection and Improvement Guide, the use of technology for
video/ virtual meetings and limiting the number of meetings including length and
proximity of gathering of employees and others. There are, in any event, a number
of options already available to Irish companies which will allow them to respect the
current social restrictions.
Under the Companies Act 2014, companies may hold general meetings remotely
through the use of any technology. Members are also allowed to appoint another
person to vote on their behalf as a proxy. The use of these methods is subject to the
provisions found in the company’s constitution. Some constitutions may expressly
forbid their use.
•
Irish companies may also delay, postpone or adjourn their general meetings, however
it should be noted that Irish law requires a company to hold a general meeting ever
calendar year and no longer than 15 months may pass between each meeting. Single
member companies and private companies limited by shares may also dispense with
the need to hold a general meeting by passing a written resolution.
•
Board meetings are also capable of being convened through electronic means or by
passing a written resolution.
Government measures in key jurisdictions