Implications for loans from overseas companies

Discussion in 'Accounting & Tax' started by eggnog, 8th Jan, 2018.

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  1. eggnog

    eggnog Well-Known Member

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    Hey all. Are there any tax and accounting implications for loans from an overseas company? Has anybody here been down this road?
    A friend of mine has a successful company overseas and he is willing to offer me loans at competitive rates.
    What type of professional should I seek to ask advice from, accountant or solicitor?
     
    eggnog, 8th Jan, 2018
    #1
  2. Mike A

    Mike A Well-Known Member

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    yes there are implications. if you dont register for withholding tax and pay withholding tax on the interest paid then you wont get a tax deduction.
     
    Mike A, 8th Jan, 2018
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  3. eggnog

    eggnog Well-Known Member

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    But if i use it to buy a ppor i cant claim tax deductions regardless. In this scenario would i still have to register for witholding tax?
    Any other implications you can see?
     
    eggnog, 8th Jan, 2018
    #3
  4. Hamish Blair

    Hamish Blair Well-Known Member

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    What currency is it in? Who wears the currency risk?
     
    Hamish Blair, 8th Jan, 2018
    #4
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