China outbound investmentIreland: your connection to Europe

2012Leading business advisers

China Ireland

2

Page

1. Executive summary 3

2. Ireland: China’s connection to Europe 4

3. Top of the class 5

4. Why Ireland 7

5. The investment climate 10

6. The labour environment 11

7. Foreign investment incentives 12

8. Ireland’s tax environment 16

9. Ireland: A holding company location for Europe or beyond 17

10. Benefits of an Irish holding company 18

11. Our service offering - How Deloitte Ireland can help 19

12. Deloitte Ireland Chinese Services Group (CSG) 20

Contents

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Therefore, I am delighted to introduce the Deloitte guide for outbound investment from China into Ireland, Europe and beyond. This guide sets out relevant information on Ireland’s pro-business environment, Ireland’s competitive tax regime, as well as details of the Chinese Services Group in Ireland and the Irish firm’s service capabilities. I hope you find it useful.

Almost 1,000 multinational corporations have chosen Ireland as their strategic European base, attracted by our low corporate tax environment, track record of success and a young, highly skilled workforce. Ireland’s low tax regime has been a vital part of Ireland’s industrial policy and the Irish government remains steadfastly committed to the maintenance of the 12.5% corporate tax regime.

Ireland continues to attract ongoing attention from foreign investors and private equity seeking acquisition or joint-venture/partnering opportunities with high potential businesses in Ireland, particularly in areas such as technology, life sciences, and “green” energy/technology businesses. Therefore, Ireland will continue to provide mergers and acquisitions, and other partnering arrangement opportunities to international investors and private equity going forward, including Chinese based purchasers and investors seeking to expand internationally.

We believe that the future for Foreign Direct Investment (FDI) in Ireland is bright. What’s more, the recent downward realignment of costs in Ireland should lead to an increased competitiveness in attracting FDI to Ireland.

Ireland has continued to attract significant high end FDI, despite the challenging global landscape in recent years. Record levels of new investment were recorded in 2011. FDI investment in Ireland comprises both continued investment and first time investment and many of the world’s leading companies demonstrate their commitment to remaining established in Ireland by continuing to invest. Our global reach and vast industry expertise leave Deloitte Ireland ideally placed to assist you whether you are considering a first time investment into Ireland and Europe or continuing to invest.

We look forward to working with you.

Brendan JenningsManaging PartnerDeloitte Ireland

Ireland is a prime location for many of the world’s leading businesses due to its focused pro-business policy framework which promotes a highly successful, open and competitive business environment. 

Executive summary

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Ireland: China’s connection to EuropeWith the stepping up of the ‘Going Global’ campaign among businesses in China, Chinese enterprises are actively looking for potential destinations for overseas investment to gain access to new markets, advanced technology and brand development. The Chinese Government has supported Chinese enterprises investing abroad by simplifying regulatory requirements applicable to outbound investment. Under these conditions, China’s levels of outbound investment has grown, even during this global financial crisis.

Bilateral economic, trade and political relations between China and Ireland have strengthened over the past number of years. Ireland’s adherence to the one-China policy is at the cornerstone of the relationship and links through education and culture have reinforced these positive relations between both countries.

Since the start of 2012, there have been a number of Irish governmental trade missions to China. During a recent mission, the Irish Prime Minister and Chinese Premier issued a joint statement in Beijing committing to the establishment of a strategic partnership between Ireland and China. A number of Memorandums of Understanding have been signed by both governments and the Chinese Vice Premier recently spent three days in Ireland as part of his global tour, signing a number of trade agreements while he was here. These governmental moves show the commitment to continue to establish and strengthen bilateral relations.

Investment by Chinese enterprises in Ireland has been growing over the past number of years. Several Chinese financial service companies have been trading in Ireland since 2006. In fact, ICBC has recently moved certain operations to Ireland. In 2010, we saw the first ever technological acquisition of an Irish high tech company by a Chinese corporation, which enabled the Chinese corporation to tap into the Ireland’s leading technology knowledge and expertise.

Manufacturers located in Ireland can gain access to the lowest corporation tax rates in Europe, a wealth of skills and experience in the areas of science, technology and engineering and doorstep access to the eurozone. The success of Chinese enterprises in Ireland to date paves the way for more Chinese corporations to follow.

A survey by the ‘China Council for the promotion of International Trade’ (dated April 2010) highlighted that Chinese companies regard the main advantages of investing in the EU to be access to an integrated market, good regulatory environment and the single currency. Other advantages include a top quality R&D environment, well-built infrastructure and attractive foreign direct investment incentives.

Ireland is at the forefront in providing these advantages. As a member of the EU, Ireland is part of an integrated market and is the only English speaking country in the eurozone. This, together with a pro-business and regulatory environment, a highly competitive tax regime, a strategic location in the timezone between east and west, and an attractive tax treaty with China (and one of its major trading partners, Hong Kong) makes Ireland an optimum location for Chinese enterprises wanting to gain access to the European markets.

Ireland: China’s connection to Europe

1Luo Linquan, People’s Republic of China Ambassador to Ireland and Brendan Jennings, Managing Partner, Deloitte.

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Top of the class

1stfor skilled labour that is readily available (Source: IMD World Competitiveness Yearbook 2011)

most globalised economy in the western world (Source: Globalisation Index 2011)

for real corporate taxes (Source: IBM 2011 Global location trends report)

in eurozone of best countries for business (Source: Forbes 2011)

in the world for most-highly employable graduates (Source: European Commission Study 2010)

for investment incentives (Source: IMD World Competitiveness Yearbook 2011)

6

Companies based in Ireland

Largest exporter of software in

the world

9 of the top 10 pharmaceutical

companies

8 of the top 10 technology

companies

50% of the world’s fleet of leased aircraft is managed from

Ireland

More than 50% of the top financial

services companies

11 of the top 13 medical

device companies

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Why Ireland?

7

Government commitment to maintaining 12.5% corporation tax rate

Pro-business legal and regulatory environment

English speaking member of the eurozone

Young, educated and flexible workforce

Low start-up regulations and relative ease to establish a business

Competitive costs of doing business

Wide service provider network with expertise and experience in foreign direct investment

Deep pool of management talent with MNC experience

Government commitment to incentives which attract ‘smart businesses’

Proven track record in attracting and retaining foreign direct investment

Wealth of skills and experience in the areas of science, technology and engineering

Services to over 130 European airports and over 17 direct flights a day from Ireland to the US

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World class across a variety of industry sectors

Facebook Microsoft

SatirHuawei Technology

GlaxoSmithKlinePfizer

NovartisElanco/EliLilly

CitiGroupNorthern Trust

Axa

BOC Aviation ICBC

Hainan Airlines

Technology, Media and Telecommunications

Life Sciences Financial Services Leasing

• Understanding of MNC requirements and ethos

• Promotion of R&D activities through tax incentives and grant aid

• Irish government is committed to positioning Ireland as a ‘knowledge economy’

• Ireland is the largest exporter of software in the world

• Cluster effect: Many foreign MNCs and US businesses are locating their EMEA hub in Ireland.

• World-class research institutes and university programmes

• Regulatory track record• Wide range of experienced

support service providers• 9 of the top 10 global

medical technology companies having manufacturing operations in Ireland

• Over 40 years experience in life sciences has resulted in a dynamic, well serviced sector and globally recognised centre of excellence

• Dublin is a financial services centre of excellence

• Pro-business and pragmatic approach of Irish Financial Regulator

• Range of professional services and support with specialist financial services expertise

• Ireland has the largest number of stock exchange listed investment funds

• Tax neutral funds regime

• Ireland is one of the world’s major centres for cross-border leasing

• Advantageous tax system• Extensive specialist leasing

expertise• Recent announcements by

Asian companies in leasing field

• Transparent tax regime and commitment to 12.5% corporation tax rate• Availability of young skilled labour force

• Grant aid and tax incentives • Ease of doing business

• English-speaking labour force with multilingual capabilities• Timezone overlap with US and Asia

“Ireland is the largest exporter of software in the world.”

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Best countries in the world for business

Best countries in the world for business

Top Ten Rank

Canada 1

New Zealand 2

Hong Kong 3

Ireland 4

Denmark 5

Singapore 6

Sweden 7

Norway 8

United Kingdom 9

United States 10

* Top ranked member of the eurozone

(Source: Forbes.com, October 2011)

Best countries in the world for business (Ireland ranking 2005-2011)

Skill 2005 2008 2011

Skilled Labour 31 5 1

Financial Skills 14 4 3

Qualified Engineers 34 17 8

Senior Management 19 7 5

(Source: IMD World Competitiveness Yearbook 2011)

“ Today, I want to say to our friends in the multinational sector who continue to invest so strongly in Ireland and Europe, there will be no change to Ireland’s 12.5% Corporation Tax rate.” (Source: Financial statement of the Minister for Finance, Budget 2012)

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Political backgroundIreland is a parliamentary democracy. A constitutional president with largely ceremonial duties is elected by universal suffrage.

Economic structureIndustry accounts for a higher level of output than is the case in most other developed economies, and most manufacturing is foreign-owned and profitable, resulting in large amounts of profits repatriated abroad. However, as manufacturing output growth has slowed and services output has accelerated in many sectors, the structure of the Irish economy is becoming more like that of other developed economies. Agriculture remains relatively more important in Ireland than in other west European economies.

Foreign tradeThe Irish economy relies heavily on foreign trade. The UK and the US are Ireland’s largest trading partners.

Exchange controlsThere are no exchange controls and approval is not required for foreign investment or capital importation.

Principal forms of doing businessThe selection of a corporate structure for an investment in Ireland will be strongly influenced by tax considerations such as the Irish tax rate applying to operations, the group’s home country tax considerations and the group’s future plans for repatriating profits earned in Ireland back to the home country.

Private and public limited liability companies are the two main forms of corporate organisation in Ireland. Most foreign investors choose the former, as they are less costly to set up and easier to operate. In a private limited company, the right to transfer shares is restricted, the number of non-employee shareholders may not exceed 99, and no shares or debentures may be offered to the public. A public limited company must have at least seven members and a minimum nominal capital of EUR 38,092.14.

Foreign investors may also choose to set up a local operation by establishing a branch in Ireland. Such branch representative offices may sometimes not be taxable in Ireland, as a result of their activities or tax treaty relief.

Ease of setting up a companySetting up an Irish company is straightforward and can be completed within one week if a standard set of Memorandum and Articles of Association are used.

The investment climate

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The labour environment

Employees’ rights and remunerationMuch of Ireland’s labour legislation is driven by developments in the EU. Labour legislation should present no special difficulties to employers, but it is strictly enforced.

The contract between employer and employee in Ireland has traditionally been based on common law, but there is a significant regulatory overlay, including a requirement to provide a written statement of terms and conditions of employment within two months of hiring. Specific rules apply to fixed-term contracts.

Social insuranceIrish social security contributions are referred to as Pay Related Social Insurance (PRSI) contributions. Both employee PRSI (4 %) and employer (10.75%) contributions are payable. In general, employee/employer contributions are made through the PAYE (Irish payroll withholding) system.

Other benefitsEmployees are entitled by law to four weeks of paid holidays a year. There are nine paid statutory public holidays annually.

Employment of foreign nationalsAn employer must hold an employment permit if it employs a non EEA national in Ireland.Different types of employment permits exist (e.g. work permits and green card permits) and the type of permit required will depend on the salary offered to the employee and the employee’s job title. Where an employee is seconded by their foreign employer to work or train in a related Irish entity, an Intra-Company Transfer permit may be applied for.

In 2007, a spousal scheme was introduced, enabling the spouse of an individual with an Irish work permit to apply for a spousal work permit once they have secured a job offer from an Irish employer.

“What we are saying to companies is that Ireland isn’t just a market of four million people – it offers a gateway into the entire European market.”

Brian Conroy, the IDA’s Asia-Pacific director, based in ShanghaiSource: National Recovery Plan November 2010

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The Irish government is committed to maintaining an environment conducive to foreign investment and remains steadfastly committed to the maintenance of the 12.5% corporate tax regime as the cornerstone of industrial policy. The low corporate tax rate, an enhanced IP regime, generous exemptions from dividend and interest withholding tax, a participation exemption, the absence of controlled foreign company legislation, and the existence of incentive packages that maximise EU financial assistance and efficient use of EU funds make Ireland an extremely attractive jurisdiction in Europe for a range of activities.

Government incentives target foreign investors offering sustained high-skilled jobs and net exports with significant local content. The manufacturing of pharmaceuticals and medical devices, financial services, the provision of information communication technology and professional services are the key sectors in terms of foreign direct investment. The government also favours joint ventures between foreign and local investors with complementary skills, and it is increasingly focusing on strengthening Ireland’s indigenous technology base.

Non-tax incentive packages, which are sponsored by the Industrial Development Agency (IDA), may include capital grants, interest subsidies and loan guarantees, and grants for rent reduction, employment, training, R&D and technology acquisition. These incentives are chiefly determined by the location and the quality of employment created. The IDA monitors grant recipients closely, withholding or seeking repayment of grants if job commitments are not met.

IDA Ireland has a property portfolio of business and technology parks in major cities and is proactive in attracting and supporting investors. The IDA favours advanced manufacturing projects in information and communications technology, pharmaceuticals and biopharmaceuticals, medical technology, engineering and consumer products, and high value internationally traded service sectors such as software, financial services, shared services and customer support. Foreign investment is substantial in nature. A recent report ranked Ireland as the top creator of employment (relative to population size) from foreign direct investment (Source: IBM, Global Location Trends Annual Report 2011). IDA supported companies alone sustain over 135,000 jobs in Ireland.

Foreign investment incentives

“ A recent report ranked Ireland as the top creator of employment (relative to population size) from foreign direct investment”

IBM, Global Location Trends Annual Report 2010.

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Incentives to create and acquire Intellectual Property (IP) • The majority of companies centralise some

or all of their key, high-value-added activities into a smaller number of global or regional headquarters. A centralised model can maximise the efficiency and profitability of the operation. This applies not only in the context of centralising IP, but also wider supply chain centralised models, such as central entrepreneur/principal models.

• Ireland is an ideal place for companies to centralise their activities from both a business and tax perspective.

• Companies based in Ireland can own and exploit intangible assets with a low effective tax rate.

Tax relief on capital expenditure on intangible assets• Irish tax relief for capital expenditure incurred

by companies on the provision/acquisition of intangible assets (which is broadly defined) for trade purposes.

• Matching of tax deductions with IP amortisation or depreciation charge in the financial statements (or alternatively it is possible to claim tax depreciation over 15 years) which can result in a very low overall effective tax rate (as at minimum only 20% of the relevant income will be left within the charge to Irish tax).

• Irish IP regime offers flexibility and an advantage over other European IP tax regimes, with a well defined exit route from Ireland which can be achieved tax free in many instances.

• A stamp duty exemption also applies to the acquisition of intangible assets.

Generous research and development tax credits• In addition to the low 12.5% tax regime,

Ireland has a competitive and generous R&D tax credit regime, resulting in an effective tax deduction of 300% of the R&D expenses. This includes expenditure on buildings/structures.

• The R&D relief is actually provided by way of a tax credit of 25% of the qualifying R&D spend which can be offset against the company’s corporation tax liability (or in loss making situations can generate tax refunds). In certain circumstances it can be used to reduce the income and tax liability for key R&D employees.

• The R&D tax credit regime in Ireland, combined with other tax incentives, and other government/financial incentives, now makes Ireland a very attractive location for companies carrying out R&D.

Other government incentives A range of services and incentives, including funding and grants, are available to those considering foreign direct investment in Ireland. These are offered by IDA Ireland, Ireland’s inward investment promotion agency, to both new and existing clients. The IDA has locations worldwide including offices in Shanghai, Shenzhen and various other Asia Pacific countries.

IDA Ireland can provide the following assistance to Chinese companies:• Provide information and statistics on key

business sectors and locations within Ireland. • Assist in setting up a business in Ireland. • Introduce potential investors to local industry

in Ireland, government, service providers and research institutions.

• Offer advice on property solutions for international investors.

• Grants sponsored by the IDA may include capital grants, interest subsidies and loan guarantees, and grants for rent reduction, employment, training, R&D and technology acquisition.

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“Over 50% of the world’s fleet of leased aircraft is managed

from Ireland”

15

9 of the world’s top 10 leasing companies

operate in Ireland

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Corporate tax rate 12.5% • Trading income (including active financing, leasing, licensing, central entrepreneur, manufacturing, procurement, and R&D)

• Dividends from trading companies in EU/treaty countries, but extends to certain other companies also

25% • Passive income including certain capital gains

Capital gains tax 0% • Where capital gains tax participation exemption applies (otherwise 30%)

Capital duty/Net wealth tax None • No capital duty/net wealth tax in Ireland

Stamp duty 1% - 2% • 1% duty on transfers of Irish-registered shares• Exemptions for group transfers and certain assets such

as IP and foreign shares

Withholding taxes 0% • Broad range of domestic exemptions available for dividend, interest and royalties (for payments from Ireland directly to China, generally no Irish withholding tax should apply)

CFC/Thin capitalisation rules None • No CFC rules in Ireland, and no formal thin capitalisation rules exist in Ireland (some limited provisions which can reclassify interest to dividend)

R&D regime Yes • Credit of 25%. (See page 13)

IP regime Yes • An intellectual property (IP) regime which provides a tax write-off for broadly defined IP acquisitions. (See page 13)

Treaty network 65 signed • Treaties with all major business jurisdictions (including China, Japan, India, Hong Kong, Singapore, South Korea, United Kingdom and United States) and large number of treaties in late stage of negotiation

Transfer pricing Yes • Regime introduced from 1 January 2011. Application is in respect of trading transactions only – the objective is to formalise existing approach, so generally viewed as a benign development from an Irish tax and foreign direct investment viewpoint

Value Added Tax (VAT) 0% - 23% • EU VAT Regime

Individual tax rates 20%/41% • 20%/41% income tax rate bands plus USC at bands between 2% - 10% and 4% PRSI, but new incentive for executives to relocate to Ireland - reduction in taxable income by 30% on remuneration between €75,000 and €500,000 subject to conditions.

• In certain instances a company’s R&D tax credit may be surrendered against key employees’ income tax (subject to the credit not reducing the employees’ effective tax rate below 23%).

Ireland’s tax environment

A snapshot of Ireland’s competitive tax regime

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Capital Gains Tax Participation Exemption

12.5% rate on foreign dividends

Transfer pricing only on trading

transactions

Special Assignment

Relief Programme

Pooled tax credits on foreign dividends

No Capital Duty/ Net Wealth Taxes

Well-defined Exit Route

Wide Tax Treaty Network

and member of EU

Not a Tax Haven

Tax Relief on Interest Expense

No CFC/Thin Cap Regime

Wide range of withholding tax

exemptions

Ireland as a holding company

location

Ireland: A holding company location for Europe or beyond

• Significant recent corporate inversions to Ireland – recognising the advantages of Ireland’s holding regime.

• Despite foreign dividends being taxed, due to pooling of foreign tax credits, in most instances, there is a “de-facto” foreign dividend tax exemption in Ireland.

• Ireland can also act as a favourable holding location for Chinese subsidiaries, given:

- No capital gains tax in China on disposal of shares (provided non-real estate) under the Ireland/China treaty.

- No capital gains tax in Ireland provided CGT participation exemption applies.

- No additional Irish tax on dividend income provided certain requirements can be satisfied.

“ Significant recent corporate inversions to Ireland - recognising the advantages of Ireland’s holding regime”

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Benefits of an Irish holding company

Tax benefits• No withholding tax on dividends, interest or

royalties from Ireland to China (beneficial Irish rules apply).

• No Irish Capital Gains Tax on sale of Irish HoldCo (provided not a real estate company).

• No Irish Capital Gains Tax on sale of qualifying foreign shareholdings (Irish participation exemption).

• No Irish tax on foreign dividend income in many instances due to pooling regime for foreign credits.

• China CFC and foreign tax credit rules to consider.

• To the extent the company is trading, it can access 12.5% rate on trading profits.

Key benefit Ireland allows repatriation of dividends, interest and royalties back to China without withholding tax.

Investors

(China/Hong Kong)

SPV/China Co

(China/Hong Kong)

Offshore HoldCo(Ireland)

• Foreign Targets• Foreign Subsidiaries

• Foreign BidCos

Debt/Equity0% - Dividend0% - Interest0% - Royalties

“Now is the time to invest in Ireland where property is relatively a steal. You have the best educated workforce in the world...You’d have to be nuts not to take advantage of the unique investment opportunity presented by one of the most business-friendly countries in the world, with the youngest, best-educated workforce in Europe.”

(Source: Bill Clinton – 9 February 2012 New York Invest in Ireland Summit)

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Our service offering - How Deloitte Ireland can help

At Deloitte we offer clients a broad range of audit, tax and legal, consulting and corporate finance services. Our client service teams, under the leadership of a Lead Client Service Partner, help create powerful business solutions for organisations operating anywhere in the world. This integrated approach combines insight and innovation from multiple disciplines with business knowledge and industry expertise to help our clients exceed their expectations.

Deloitte has offices located across China, the greater Asia Pacific region and Ireland, which positions us in the local market to provide a seamless and effective service to our clients on all China-Ireland related issues and allows us to tailor our services to suit particular needs and requirements.

Audit Enterprise Risk Services

Taxation Services

Corporate Finance Services

Management Consultancy

Services

Company Secretarial and Legal Services

External audit, accounting and financial reporting, compliance and regulatory audits, treasury and financial services, as well as accounting and assurance advisory services.

Risk management, corporate governance, internal audit, control assurance services including IT security related services.

Offers the full range of tax services, both direct and indirect taxes including specialisms in areas such as R&D, M&A and transfer pricing.

M&A advisory, project finance and economic consulting, financial modelling, due diligence and post merger integration services.

Financial management technology consulting, human capital management, supply chain management, and enterprise resource planning.

Company law, advisory services, company secretarial as well as certain other legal services.

Deloitte Ireland

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Deloitte Ireland Chinese Services Group (CSG)

What is the CSG?

The Chinese Services Group (CSG) serves as the unifying force to market, facilitating and delivering professional services to both multinational corporations investing into China, and Chinese companies expanding overseas. Operating as a platform to leverage China expertise, to bridge the cultural gap, and to ensure client service excellence, the Global CSG and European CSG, in coordination with the China firm, complements a multi-member firm,multi-industry, multi-functional and multi-disciplinary approach.

Where is the CSG?

Deloitte’s CSG practice has coverage in nearly 120 locations around the world, spanning six continents. With such an expansive geographical reach, combined with a decentralised group of dedicated China practitioners ready to serve you no matter where you expand overseas.

The importance of good relationships

From an Irish perspective, developing a strong relationship with China is key to ensuring future growth.

Our people:

The Deloitte Ireland CSG has an integrated team of specialists and is supported by the European CSG and Global CSG.

We continue to build these relationships and the following are just some of the ways to do this:

• International Core of Excellence in Hong Kong

• Collaboration between Deloitte Ireland and Industrial Development Agency (IDA) Ireland in China

• Participation in Irish Government trade missions to China

• Links to Ireland China Association

• Member of Irish Chamber of Commerce in Hong Kong

• Regular trips to China by Irish partners

ICE Desk

Deloitte have international core of excellence (ICE) desks in New York and Hong Kong. The Asia-Pacific ICE team comprises of 23 non-Asian international tax practitioners from 15 countries.

Enwright de Sales, a Tax Director leads the Irish ICE Desk in Hong Kong.

This provides a number of benefits for Chinese organisations:

• Easy access to international tax practitioners, who understand Asian business issues

• Team works with other foreign desks to develop innovative solutions

• ICE desk operates in the same time zone and in close geographical proximity – available for ad hoc meetings and brainstorming sessions

• A working knowledge of the interaction between the Asian and Irish tax system

Enwright is currently the Vice-Chairman and Treasurer of the Irish Chamber of Commerce in Hong Kong.

Ireland is a member of the Global and European Chinese Services Group

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Through this expansive network, the Deloitte Ireland CSG team provides assistance and a broad range of bespoke services to Chinese companies seeking to invest in Ireland and to access the European markets as well as Irish based companies seeking to invest and operate in China. We offer a ‘one-stop’ advisory service to Chinese firms whether setting up for the first time in Ireland, requiring M&A services and support for a target including Irish operations, seeking to utilise Ireland as a holding company location, or expanding existing operations.

We can provide: • Mergers and acquisitions services• Strategic investment and location planning• Government grant and incentive services• Accounting, audit, and compliance services• Tax planning and advisory services, including

compliance services• Business incorporation services• We can also arrange for the provision of visa

and work permit applications services

The Chinese Focus The Irish Connection

The Chinese Framework

• Regulatory hurdles• Cultural perspective

• Deloitte Ireland CSG understands the Chinese framework and can navigate the regulatory hurdles, while respecting cultural differences

M&A

• Outbound M&A in China has experienced significant growth over the past four years

• Deloitte Ireland’s unparalleled expert multidisciplinary M&A team is ideally positioned to assist and advise on future Chinese M&A transactions

• A previous winner of the European M&A Tax Transaction of the Year Award

Sector Focus

• Life sciences• Energy• Mining and Utilities • Industrial and Chemicals• Telecommunications, Media and Technology

• Deloitte Ireland and the CSG hold diverse specialist expertise across a range of industry sectors

• Deloitte Ireland has dedicated experts available in each of these industry sectors across the full range of its services

Private Equity (PE)

• Market trends indicate Chinese outbound PE acquisitions are to continue to grow into the future

• Deloitte Ireland has significant experience and expertise in this area having worked on many PE investments and transactions in Ireland over the years

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Deloitte Ireland +

CSG +

Irish ICE desk =

Your Chinese connection to Europe

ContactsDublinDeloitte & ToucheDeloitte & Touche HouseEarlsfort Terrace Dublin 2 T: +353 1 417 2200 F: +353 1 417 2300

CorkDeloitte & ToucheNo.6 Lapp’s QuayCorkT: +353 21 490 7000 F: +353 21 490 7001

LimerickDeloitte & ToucheDeloitte & Touche HouseCharlotte Quay Limerick T: +353 61 435500 F: +353 61 418310

www.deloitte.com/ie

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For more details please contact:

Pádraig Cronin Partner, Head of Tax and Legal Services T: +353 1 417 2417 E: pcronin@deloitte.ie

Lorraine Griffin Partner, International Tax and Ireland China Services Group T: +353 1 417 2992 E:lorgriffin@deloitte.ie

Conor Hynes Partner, Financial Services T: +353 1 417 2205 E: chynes@deloitte.ie

Pádraic Whelan Partner, Head of Real Estate and Infrastructure T: +353 1 417 2848 E: pwhelan@deloitte.ie

Ronan Nolan Partner, Mergers & Acquisitions T: +353 1 417 2250 E:rnolan@deloitte.ie

Chris O’Connell Partner, Mergers & Acquisitions T: +353 1 417 2609 E: chrisoconnell@deloitte.ie

Enwright De Sales Managing Director, Asia Pacific ICE-Ireland Tax (Hong Kong) T: +852 2852 1078 E: ejdesales@deloitte.com