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  • PwC’s Andrew O’Callaghan outlines the opportunities of doing business in Asia | PwC Ireland | Media centre | Press release
    Speaking about the survey results Andrew O Callaghan PwC Asset Management Partner said The confidence expressed by the Asia Pacific business leaders presents great opportunities for Ireland As an exporting nation where a large proportion of our Irish CEOs are already looking to the Asia Pacific region we can look forward to even greater market opportunities for our products and services Aside from China Singapore India and Japan also offer good opportunities With their growing spending power Ireland has a lot to offer in terms of our technology expertise financial services and pharmaceuticals as well our food companies Around a quarter of the global supply of infant formula is manufactured in Ireland and much of it is exported to Asia And it is an opportunity for Ireland that these business leaders see the benefit of collaborating with partners as this is one of the best ways of establishing a market in such far away places Having on the ground contacts and know how can prove to be the magic for success With rising spending power Ireland also offers great investment potential for fund management wealth management and real estate Likewise with our highly skilled people and a pro business environment Ireland offers great potential to be a hub as Asia Pacific companies eye up Europe and the US Positioning ourselves as a perfect location for these companies to use Ireland as their European headquarters can pay huge dividends Ireland can then be their gateway to Europe and indeed to the US says Andrew O Callaghan Having done it with the US we have an excellent template to replicate this with Asia Already we can see aircraft leasing companies and some China and Singaporean banks operating here They chose Ireland because of our excellent talent pool we are English speaking our ease of doing business we have an excellent Tax Treaty Network including with Treaties with both Hong Kong and China which is important However O Callaghan cautions The ability to attract these companies as they grow is important but we need to work harder at selling the message of Ireland in this region The awareness of Ireland is still quite low within Asia You need to give this market a lot of time Building up trust and with the right people all takes time There is a lot of patience involved recognising that a small operation could one day be very large It s very important for Ireland to secure that first investment and the IDA are doing a wonderful job here Educational links are important Ireland has many Asian students studying here Andrew O Callaghan says These students are great ambassadors for Ireland Some stay here and are employed by Irish companies for example PwC employs over 30 Chinese graduates in Ireland Some go home and become Ireland s diaspora University College Dublin have a very active China network as indeed do UCC and DCU These universities have done a great job positioning Ireland as a great place for

    Original URL path: http://www.pwc.ie/media-centre/press-release/2015/2015-pwc-ireland-the-magic-of-asia.html (2016-02-18)
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  • Women’s Gaelic Players Association announces new partnership with PwC | PwC Ireland | Media centre | Press release
    intercounty players do not have access to support services for player welfare such as counselling career advice education support Nearly three quarters 73 said that player welfare of intercounty players is being insufficiently looked after Two thirds 68 are of the view that intercounty players are not respected as athletes by the general population Speaking at the launch PwC s incoming Managing Partner Feargal O Rourke said Supporting talent development is very much part of our business Talent leadership commitment and supporting people to be the very best they can be is what PwC is all about These facets are also reflected in sport at the highest levels We are therefore delighted to partner with the Women s Gaelic Players Association and in supporting people who excel in their career and in sport Chairperson of the WGPA Aoife Lane said We are delighted to have the support of PwC as we work to establish ourselves as a voice for our members High performance sport helps to set up good habits for life which places top ladies footballers and camogie players as ideal role models in Irish society Unfortunately these players are relatively invisible and undocumented something that is recognised by nine out of ten of our members Our new Behind the Player campaign aims to show players as athletes and individuals to help the sporting public to connect with them and also places the WGPA as supporters of players as they work to be their best on and off the field ENDS Notes to editors The partnership coincides with the launch of the WGPA s new Behind the Player awareness campaign which represents camogie players and ladies footballers as individuals who are successful and ambitious in life and sport and positions them as role models for young people across Ireland This is supported by findings from WGPA player survey which found that a large majority 84 of county players are college educated while at the same time train collectively and individually 85 at least five times per week The WGPA is the first amateur female players body in the world and now represents 1 000 players from 52 squads across 32 counties Other key findings in the report on experiences of intercounty Ladies Football and Camogie players report Making Things Better include 84 of members are third level educated 41 of members still in education 85 complete 5 sessions of training and additional preparation per week 26 travel more than 41km to training Only 7 receive travel expenses 62 have been out of pocket due to injury expenses 23 often receive food after training 33 often have access to hot showers after training Less than two in three players have free access to a physiotherapist Almost 80 have felt overwhelmed at some point as an intercounty player Almost 60 have felt stressed as an intercounty player 91 felt intercounty players did not get enough media coverage 83 said intercounty players do not have access to support services for player welfare

    Original URL path: http://www.pwc.ie/media-centre/press-release/2015/2015-pwc-ireland-partnership-with-womens-gaelic-players-association.html (2016-02-18)
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  • More work to be done to ensure Ireland achieves R&D spending target | PwC Ireland | Media centre | Press release
    welcome progress but there is more work required by all stakeholders to ensure that Ireland achieves the target of spending 3 on R D by 2025 Ireland needs to build a research Ecosystem that should be based on its strengths identify shared industry state investment projects to take on significant societal or economic challenges and achieve world class outcomes The strategic goal for Ireland is to attract further public private investment through proven partnerships between US FDI and Ireland s RDI system which would within ten years Research Development Innovation is fundamental to growing the Irish economy according to Brian Cotter Increasing competition from other exporting countries and the global industry imperative to Innovate or Die requires that Ireland targets RDI investment to establish global leadership niches as the primary driver of future economic and employment growth Ireland must effectively align and scale up RDI investments Achieving a global RDI leadership position will future proof the Irish economy against disruptive technological change and global investment competition Addressing the event Feargal O Rourke Chairman American Chamber of Commerce Tax Group and Incoming Managing Partner PwC said PwC s 2015 CEO Pulse Survey reveals that maintaining Ireland s status as an attractive location for RDI is critical for maintaining and winning FDI Having an FDI created RDI ecosystem will enhance Ireland s standing Ensuring our tax policy is leading edge is also necessary but is by no means sufficient There is more work to be done on refocusing and improving our overall RDI system including getting our R D tax regime right Further encouragement will be required to encourage FDI companies to participate and lead innovation and enterprise development through to commercialisation Also speaking at the event Stephen Merriman PwC RDI Leader added Ireland has to date been relatively successful in attracting

    Original URL path: http://www.pwc.ie/media-centre/press-release/2015/2015-pwc-ireland-american-chamber-event-explores-funding-innovation.html (2016-02-18)
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  • EMEA Leadership role for PwC Ireland's Andrew O'Callaghan | PwC Ireland | Media centre | Press release
    PwC s Europe Middle East and Africa EMEA Asset Management Practice Andrew O Callaghan a Partner in PwC Ireland s Asset Management group has been appointed to lead PwC s Europe Middle East and Africa EMEA Asset Management Practice employing over 6 000 fund specialists and providing assurance tax and advisory services to many of the world s most important fund managers and investment companies Andrew has led PwC s European Exchange Traded Funds practice for the last 6 years He also chaired PwC s Asset Management 2020 thought leadership identifying the key game changers growth scenarios and opportunities for the asset management industry globally Speaking at the announcement Andrew O Callaghan said This is a very exciting time for Global and European asset and wealth management With global assets under management projected to be in excess of US 100 trillion by 2020 and a projected annual growth rate of 6 Europe and Ireland are a very important part of this global growth story There are many game changers ahead and those who deliver coherent strategies and build trust will be the successful players to 2020 and beyond I look forward to leading our EMEA Asset Management practice working with our people to deliver top class services to our clients In a rapidly changing environment where technology and digital will bring much disruption PwC is delighted to help our clients seize the many opportunities There is an exciting future ahead And as the economic recovery gathers momentum and business confidence grows we see an exciting future ahead I wish all of our new Partners success in their new roles ENDS About PwC At PwC our purpose is to build trust in society and solve important problems We re a network of firms in 157 countries with more than 208 000

    Original URL path: http://www.pwc.ie/media-centre/press-release/2015/2015-pwc-ireland-emea-leadership-role-for-pwc-irelands-andrew-ocallaghan.html (2016-02-18)
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  • PwC announces the appointment of eight new Partners in the Firm | PwC Ireland | KMedia centre | Press releases
    committed to providing top quality service and our eight new Partners will broaden our business offering helping our clients stay ahead and add value to their businesses And as the economic recovery gathers momentum and business confidence grows we see an exciting future ahead I wish all of our new Partners success in their new roles ENDS Notes to editors Details on the new partners are Brian Leonard becomes a Partner in the Firm s Banking and Capital Markets practice Brian specialises in corporate taxation in the aviation leasing and finance industry He has significant experience advising on domestic and international taxation matters including international tax structuring Brian has considerable experience working with international aviation leasing clients on a wide range of Irish and international tax matters Féilim Harvey becomes a Partner in the Firm s Consulting practice Féilim has extensive experience providing business advisory and consulting services across industries with a particular focus on the financial services sector in Ireland and internationally He has worked successfully with some of the country s leading organisations on a diverse range of significant business change projects including establishing new organisations and business functions leading complex business transformation projects and overseeing operating model improvement projects Andy Banks becomes a Partner in the Firm s Risk Assurance Practice where he will lead the delivery of Internal Audit Services to clients Andy has over 20 years professional experience across Ireland the UK and Australia He has in depth knowledge of the strategic and operational challenges within the Internal Audit arena and advises clients on how best to address these challenges Andy has worked across industry with a strong focus on financial services He also has extensive advisory experience within the areas of corporate governance fraud internal control and risk management Mary Ruane becomes a Partner in the Firm s Asset Management practice Mary has many years experience providing assurance services to European US and Asian investment managers She has built up an in depth knowledge of financial reporting regulatory and other market issues relating to the asset management industry In particular she has considerable experience advising asset managers dealing with domestic and offshore funds product structuring regulatory matters and IFRS US GAAP reporting Deirdre McGrath becomes a Partner in the Firm s Transaction Services practice advising on acquisition strategy buy side and sell side due diligence transaction structuring and related advisory services Deirdre supports public and private clients on a wide range of transactions including domestic and cross border acquisitions divestitures and spin offs IPOs and debt offerings as well as financial restructuring and other corporate reorganisations She services a diverse range of industries including ICT energy transport financial services and consumer and industrial products Paul Barrie becomes a Partner providing audit and related services to multinational and indigenous businesses He has over 16 years experience providing assurance and business advisory services to both local and international clients ranging from large Irish public companies to foreign direct investment and indigenous businesses Paul has considerable experience

    Original URL path: http://www.pwc.ie/media-centre/press-release/2015/2015-pwc-ireland-pwc-announces-the-appointment-of-eight-new-partners-in-the-firm.html (2016-02-18)
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  • OECD BEPS will have a big impact on taxes for multinational re/insurers | PwC Ireland | Media centre | Press release
    at PwC to gain some insights into the potential impact these tax rules could have on insurers and reinsurers According to Mr O Leary the G20 does not believe multinational corporations are contributing enough and the OECD was charged with developing a solution The OECD identified a number of flaws in the international tax regime including the problem of double non taxation where companies have income but are not taxed in two different jurisdictions The OECD also identified issues in the misalignment of profit and substance where companies have profits in one country and substance in another The OECD s BEPS has a 15 point action plan to redesign the international corporate tax system including Defining a taxable presence within a country that a company is doing business This will make it more difficult to sell across borders without having a taxable presence Restrictions on interest deductibility particularly when it has been paid through other group companies Risk and capital Controlled foreign company rules Mr O Leary believes BEPS in its current form will impact international reinsurers doing business across borders Many reinsurers are doing business on a freedom of services basis which means they don t have a presence in countries where they are selling services It s going to be much more difficult going forward Other freedom of services structures will be affected as well including MGAs Sales Rep offices and sales functions Companies will have to determine if they have a taxable presence With regard to risk and capital the OECD s position is that it alone cannot drive the location of profit Mr O Leary says risk and capital has to be backed up with substance and for the insurance industry substance means underwriters assumption of risk function and management of that risk According to the

    Original URL path: http://www.pwc.ie/media-centre/press-release/2015/2015-pwc-ireland-oecd-beps-will-have-a-big-impact-on-taxes-for-multinational-insurers-and-reinsurers.html (2016-02-18)
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  • Africa Business Forum seminar highlights business opportunities and market awareness considerations | PwC Ireland | Media centre | Press release
    duty of care and pre travel considerations Simon McKeever MC and Chief Executive of the Irish Exporters Association commented Doing business in Africa can have a number of challenges With a disconnected economy in some countries the movement of people and their security should be exercised with caution Careful planning of your people and finances pre travel considerations and understanding how to work with your logistical requirements before you go can prepare you and your business for identifying considering and developing opportunities in Africa Our organisation assist exporters get to market where they can establish and maintain connections Ireland s tax system offers favourable measures for employees working in qualifying countries including the African continent Speaking at the Africa Business Forum Keith Connaughton Tax Senior Manager PwC said With sustained economic growth in Africa in recent years combined with an increasing trend of employee mobility around the world we are seeing a significant rise in the movement of employees between Ireland and the continent of Africa While this brings welcome opportunities to Irish businesses with it comes challenges for employers to ensure they are compliant with obligations such as payroll withholding and reporting across a variety of jurisdictions On the other hand for individuals travelling to Africa for work recent changes to the Foreign Earnings Deduction enhance the favourable tax treatment available in Ireland for their time working in qualifying countries including South Africa Algeria Democratic Republic of Congo Egypt Ghana Kenya Nigeria Senegal and Tanzania Valerie Metcalfe Managing Director FCm Travel Solutions Ireland commented Travel risk management is fast becoming the most important focus for corporates and in some cases surpassing the traditional travel programme drivers such as cost and efficiency Duty of Care should be integrated into every travel policy but as business travel trends change new challenges

    Original URL path: http://www.pwc.ie/media-centre/press-release/2015/2015-pwc-africa-business-forum-seminar-highlights-business-opportunities-and-market-awareness-considerations.html (2016-02-18)
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  • PwC supports Ireland IRFU U-20s as they kick-off their first Junior World Cup Championship | PwC Ireland | Media centre | Press release
    Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites PwC supports Ireland IRFU U 20s as they kick off their first Junior World Cup Championship PwC supports Ireland IRFU U 20s as they kick off their first Junior World Cup Championship match today PwC s Ireland Under 20 team kick off their first 2015 IRB Junior World Cup Championship match today in Italy The match takes place at 3 30pm Irish time in Parma Italy and will be streamed live on TG4 Wishing them well PwC s Incoming Senior Partner Feargal O Rourke said After an excellent semi final performance in New Zealand last year we re looking forward to the performance of this year s squad and hope we can go one step further ENDS Notes to editors World Rugby Under 20 Championship 2015 Pool A Pool B Pool C England South Africa New Zealand France Australia Ireland Wales Samoa Argentina Japan Italy Scotland Ireland Fixtures Date Location Fixture Irish time Tuesday 2 June Parma Ireland v Argentina 3 30pm Saturday June 6 Calvisano Ireland v Scotland 3 30pm Wednesday June 10 Viadana New Zealand v Ireland 7 30pm Match Day 4 Play offs and semi finals Monday June 15 Match Day 5 Play offs and final Saturday June 20 About PwC At PwC our purpose is to build trust in society and solve important problems We re a network of firms in 157 countries with more than 208 000 people who are committed to delivering quality in assurance advisory and tax services Find out more and tell us what matters to you by visiting us at www pwc com PwC refers to the PwC network and or one or more of its

    Original URL path: http://www.pwc.ie/media-centre/press-release/2015/2015-pwc-ireland-pwc-supports-ireland-irfu-under-20-as-they-kick-off-their-first-junior-world-cup-championship.html (2016-02-18)
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