2. General Information
UK resident company liable to corporation tax
on its worldwide profits.
non-UK resident company liable to
corporation tax on the profits of a branch or
agency in the UK.
LTDs benefit from significant tax incentives
3. UK corporation tax rates:
20 per cent for companies with profits of up to
£300,000
between 20 per cent and 26 per cent for
companies earning profits of between £300,001
and £1.5 million depending on where your
profits fall within that band
26 per cent for companies with profits of more
than £1.5 m
4. UK personal tax rates for 2011-12:
20 per cent on income between £1 and £35,000
40 per cent on income over £35,000
50 per cent on income over £150,000
Tax free allowance 7.500
6. GENERAL:
Resident companies are taxed on their world-wide
income
Non-resident companies having a 'permanent
establishment' (defined as a place of business or
fixed equipment, which would normally include
branches) pay income tax on their income
originating in Luxembourg.
.
7. GENERAL:
Corporate Income Tax (IRC) applies to
corporate entities, which includes
SAs, SARLs, and Partnerships Limited by
Shares
In partnerships tax is assessed directly on the
partners rather than the partnership as such.
.
8. ADVANTAGES:
tax incentives available for investors who are
considered to be supporting the economic
development of the country
IRC is assessed annually and deducted from
the annual net income (profit) from business
activities
9. TAX RATES FOR COMPANIES:
income does not exceed €15,000, the maximum
tax rate is 20 percent.
otherwise the tax rate is 21 percent
in both cases, there is a 4 % employment
contribution surcharge and a charge of
between 6% and 10.5% in respect of municipal
services.