In Irish corporate law, Executive Directors are critical figures who play a dual role in the company’s day-to-day management and strategic direction. Here’s a detailed overview based on Irish law:

Role and Responsibilities

The Value-Added Tax (VAT) invoice must show:

• the date of issue
• a unique sequential number
• the supplier’s full name, address and registration number
• the customer's full name and address

BUDGET 2025 SUMMARY

These are the key tax measures in the Budget Statement by the Minister for Finance on 1 October 2024.

Personal Taxes and Charges

Key Characteristics:

1. Unlimited Liability of Shareholders: In Unlimited Companies (UC), shareholders have unlimited liability for the company’s debts. This means that if the company faces financial difficulties or is liquidated, shareholders are obligated to cover all debts and liabilities, even using their personal assets. This is in contrast to limited liability structures (such as LTD or PLC), where shareholder risk is limited to the amount they have invested in shares.

Key Characteristics:

1. Shares Traded on the Stock Market: Public Limited Companies (PLCs) are companies whose shares can be freely bought and sold on stock markets. This allows the company to raise capital through public share offerings (IPOs) and attract both large and small investors. The company’s shares become available to the general public, and any investor can become a shareholder.

Key Characteristics:

1. Limited liability for partners:

• The main advantage of an LLP is the protection of the personal assets of the partners. This means that if the partnership faces debts or legal claims, the partners’ personal assets are not subject to seizure (unless partners commit fraud or gross misconduct).

• This is an important distinction from a general partnership, where all partners bear full responsibility for the firm’s debts.

Key Characteristics:

1. Limited Liability by Guarantee: Companies Limited by Guarantee (CLG) are companies where members do not own shares but agree to contribute a specified amount (guarantee) in the event of the company’s liquidation. The guarantee amount is outlined in the company’s governing documents and is typically small. This structure is most often used by organizations that do not seek to make a profit.

Key Characteristics:

1. Designated Activity: A Designated Activity Company (DAC) is a company that must strictly engage in the activities specified in its Constitution. This distinguishes it from other types of companies, such as LTD, where the scope of activities can be more flexible. A DAC is obligated to perform only the activities listed in its governing documents and cannot operate outside those parameters.