Expertise
Matheson has a dedicated tax team which focuses exclusively on the financial services sector. The team consists of eight lawyers and Matheson is the only Irish law firm to have a team of this scale focusing exclusively on financial services matters. The team is led by two partners, Gerry Thornton and Kevin Smith.
The financial services team advises on all aspects of Irish tax related to financial services. In particular, the team advises financial institutions, investment banks, investment managers, institutional investors and private equity firms on all Irish tax aspects of financial services activity in Ireland, including securities transactions, debt capital markets, cross-border financing, asset financing, derivative transactions, banking, life insurance, non-life insurance and reinsurance. The team has significant experience advising investment managers on the establishment of regulated and unregulated investment funds in Ireland. The team also advises many of the world’s largest aircraft leasing companies on the tax aspects of carrying on aircraft leasing activity in and from Ireland. They also frequently advise on mergers and acquisitions, tax litigation and tax disputes.
Complete service offering
Matheson’s financial services tax team works with many of the world’s leading financial institutions, including over half of the world’s 50 largest banks and the leading global insurers, as well as almost one third of Irish domiciled investment funds. The size of our firm enables us to have a number of distinct teams with lawyers focusing on various aspects of financial services law in Ireland. Our financial services tax team works closely with those teams to provide comprehensive advice and tailored solutions to clients doing business in all areas of the financial services sector. We regularly work alongside our Aviation Finance , our Asset Management and Investment Funds Group, our Finance and Capital Markets Group, our Financial Institutions Group and our Corporate M&A Group in particular.
Industry Involvement
Gerry and associates in the group are members of the tax steering committee of Irish Funds, the representative body for the international investment fund community in Ireland, and Gerry is chair of Irish Funds' international tax working group. Kevin and associates in the group are members of the tax committee of Irish Debt Securities Association, the representative body for the international debt securities community in Ireland.
Both Gerry and Kevin have been closely involved in financial sector consultations on Finance Bill amendments to Irish tax legislation for many years, including amendments to the Irish securitisation regime and Ireland’s anti-hybrid legislation. Gerry and Kevin are also playing an active industry role in consulting on the implementation of the proposed interest limitation rules in accordance with the Anti-Tax Avoidance Directive.
Our Team
Our experience includes advising:
Financial institutions on cross-border merger transactions in connection with their Brexit strategies.
On the establishment of Irish banking, insurance and MIFID businesses.
Promoters, managers and institutional investors on Irish tax aspects of both regulated and unregulated Irish investment funds.
On the implementation of alternative investment strategies, including direct lending and royalty strategies.
Multinational corporations on the Irish tax aspects of debt and equity capital raising transactions in Ireland.
Irish financial institutions and international investment banks on the Irish tax aspects of providing syndicated financing facilities to multinational companies doing business in and from Ireland.
Irish financial institutions, international investment banks, institutional investors and lessors on Irish tax aspects of asset financing and asset leasing transactions and on the establishment of Irish aircraft leasing platforms.
Insurance companies on portfolio transfers and business sales.
On a number of CDO and CLO transactions (synthetic and cash, managed and static) originated in the US, Europe and elsewhere arranged by US and European financial institutions.
Investment banks in respect of their ABCP, MTN and repackaging programmes.
Multinational corporations, investment managers and institutional investors on the tax aspects of Irish real estate investments.