InsightsInvesting in Ireland Multinationals
The technology, media and telecommunications sector continues to see rapid growth.
Increasing efficiencies drives down costs, however the continual development of new services and products can be highly disruptive to organisations as well as causing huge changes in society and the way we live.
The growth of social media in the last five years has completely changed the way we communicate with each other and has impacted business models.
Understanding the changes and trends and how they impact on business and society in the short, medium and long terms is vital to the survival and growth of businesses.
As advisors, Deloitte serves 93% of the top TMT Fortune 500 companies and 100% of the top 23 telecommunication companies globally. We at Deloitte are the only Big 4 firm to retain its consulting practice continually throughout the years.
The in-depth knowledge acquired over the years from consulting and working with clients across all facets of their business allows us to understand TMT businesses in greater depth and we use this understanding to enhance the provision of all of our services to our clients.
Furthermore, as the largest IT consulting organisation in the world, Deloitte’s strong TMT practice together with its IT consulting capability allows Deloitte to bring technology solutions and valuable insight to clients across many sectors.
Ireland is firmly established as a key TMT hub in Europe. Over the past 50 years a cluster of major global technology companies have built significant operations here.
More recently Ireland has become the favoured location for social media and gaming companies. The TMT sector in Ireland incorporates the full range of high-tech activities including research and development, high value manufacturing, shared services, software development and supply chain management.
The Irish Government’s steadfast commitment to positioning Ireland as a ‘knowledge economy’ through the promotion of research and development activities in the TMT sector has paid dividends and has been fundamental in building Ireland’s reputation as the obvious location for TMT companies. While the government continues to provide grant aid in accordance with Horizon 2020, the government’s prioritisation plan is now more focused on particular areas of industry, such as cloud computing, data analytics, ICT infrastructure and digital platforms for content and applications, all in the TMT sector.
- Ireland is a key technology hub in Europe with a cluster of major global technology companies with significant operations / EMEA headquarters located here (10 of the top 10 technology companies are in Ireland and Ireland is the largest software exporter in the world)
- The Irish Government is steadfastly committed to positioning Ireland as a “knowledge economy
Ireland is leading the way in global cloud computing with recent investments from both multinational companies and the Irish government
- Ireland has and continues to successfully promote R&D activities through generous R&D tax credits and grant aid
- The ease of doing business is recognised internationally
- Our English-speaking labour force with access to multilingual capabilities is constantly being enhanced
- Our transparent tax regime and commitment to 12.5% corporation tax rate, with a lower effective tax rate achievable for the majority of companies is attractive for US companies and overseas multinationals
- There are expat benefits including a Special Assignment Relief Programme to attract key talent to Ireland
- There is a long established Cultural affinity with the US – understanding of multinational corporations (MNC) requirements and ethos
- There is an availability of young, skilled technology and engineering employees with expertise in the areas of technology, telecoms, social media and software development
How Deloitte can help
We can assist you in setting up in Ireland and in your on-going operations here in Ireland. Some of the areas we can help with include:
- Market entry strategy including location decisions in Ireland
- Executive search & selection
- Organisation design and operating model
- Assistance with establishing operations in Ireland
- Tax efficient structuring of Irish operations
- Finance function transformations
- Sourcing local debt financing
- Sourcing local commercial partners
- Supply chain and sourcing strategy
- Strategic change and organisation transformation
- Protection of cashflows from intellectual property
- Revenue assurance services
- US GAAP reporting assistance
- Global employer solutions for cross border employees
- Structuring talent, performance & rewards packages
- Assessing a company’s ability to claim R&D tax credits