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AYR » Topics » We may become subject to an increased rate of Irish taxation which would adversely affect our business and would result in decreased earnings available for distribution to our shareholders.

These excerpts taken from the AYR 10-K filed Mar 2, 2009.
We may become subject to an increased rate of Irish taxation which would adversely affect our business and would result in decreased earnings available for distribution to our shareholders.
 
Our Irish subsidiaries and affiliates are expected to be subject to corporation tax on their income from leasing, managing and servicing aircraft at the 12.5% tax rate applicable to trading income. This expectation is based on certain assumptions, including that we will maintain at least the current level of our business operations in Ireland. If we are not successful in achieving trading status in Ireland the income of our Irish subsidiaries and affiliates will be subject to corporation tax at the 25% rate applicable to non-trading activities which would adversely affect our business and would result in decreased earnings available for distribution to our shareholders.
 
We may become subject to income or other taxes in the non-U.S. jurisdictions in which our aircraft operate, where our lessees are located or where we perform certain services which would adversely affect our business and result in decreased cash available for distributions to shareholders.
 
Certain Aircastle entities are expected to be subject to the income tax laws of Ireland and/or the United States. In addition, we may be subject to income or other taxes in other jurisdictions by reason of our activities and operations, where our aircraft operate or where the lessees of our aircraft (or others in possession of our aircraft) are located. Although we have adopted operating procedures to reduce the exposure to such taxation, we may be subject to such taxes in the future and such taxes may be substantial. In addition, if we do not follow separate operating guidelines relating to managing a portion of our aircraft portfolio through offices in Ireland and Singapore, income from aircraft not owned in such jurisdictions would be subject to local tax. The imposition of such taxes would adversely affect our business and would result in decreased earnings available for distribution to our shareholders.


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Table of Contents

We may
become subject to an increased rate of Irish taxation which
would adversely affect our business and would result in
decreased earnings available for distribution to our
shareholders.


 



Our Irish subsidiaries and affiliates are expected to be subject
to corporation tax on their income from leasing, managing and
servicing aircraft at the 12.5% tax rate applicable to trading
income. This expectation is based on certain assumptions,
including that we will maintain at least the current level of
our business operations in Ireland. If we are not successful in
achieving trading status in Ireland the income of our Irish
subsidiaries and affiliates will be subject to corporation tax
at the 25% rate applicable to non-trading activities which would
adversely affect our business and would result in decreased
earnings available for distribution to our shareholders.


 




We may
become subject to income or other taxes in the
non-U.S.
jurisdictions in which our aircraft operate, where our lessees
are located or where we perform certain services which would
adversely affect our business and result in decreased cash
available for distributions to shareholders.


 



Certain Aircastle entities are expected to be subject to the
income tax laws of Ireland
and/or the
United States. In addition, we may be subject to income or other
taxes in other jurisdictions by reason of our activities and
operations, where our aircraft operate or where the lessees of
our aircraft (or others in possession of our aircraft) are
located. Although we have adopted operating procedures to reduce
the exposure to such taxation, we may be subject to such taxes
in the future and such taxes may be substantial. In addition, if
we do not follow separate operating guidelines relating to
managing a portion of our aircraft portfolio through offices in
Ireland and Singapore, income from aircraft not owned in such
jurisdictions would be subject to local tax. The imposition of
such taxes would adversely affect our business and would result
in decreased earnings available for distribution to our
shareholders.





36




Table of Contents







This excerpt taken from the AYR 10-Q filed Nov 17, 2008.
We may become subject to an increased rate of Irish taxation which would adversely affect our business and would result in decreased earnings available for distribution to our shareholders.
 
Our Irish subsidiaries and affiliates are expected to be subject to corporation tax on their income from leasing, managing and servicing aircraft at the 12.5% tax rate applicable to trading income. This expectation is based on certain assumptions, including that we will maintain at least the current level of our business operations in Ireland. If we are not successful in achieving trading status in Ireland the income of our Irish subsidiaries and affiliates will be subject to corporation tax at the 25% rate applicable to non-trading activities which would adversely affect our business and would result in decreased earnings available for distribution to our shareholders.


79

Table of Contents

We may become subject to income or other taxes in the non-U.S. jurisdictions in which our aircraft operate, where our lessees are located or where we perform certain services which would adversely affect our business and result in decreased cash available for distributions to shareholders.
 
Certain Aircastle entities are expected to be subject to the income tax laws of Ireland and/or the United States. In addition, we may be subject to income or other taxes in other jurisdictions by reason of our activities and operations, where our aircraft operate or where the lessees of our aircraft (or others in possession of our aircraft) are located. Although we have adopted operating procedures to reduce the exposure to such taxation, we may be subject to such taxes in the future and such taxes may be substantial. In addition, if we do not follow separate operating guidelines relating to managing a portion of our aircraft portfolio through offices in Ireland and Singapore, income from aircraft not owned in such jurisdictions would be subject to local tax. The imposition of such taxes would adversely affect our business and would result in decreased earnings available for distribution to our shareholders.
 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 2, 2009
10-Q
Nov 17, 2008

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