April 2017: Terry Clune, CEO, The Taxback Group

Business Person of the Month | Tue 9 May | Author – Business & Finance Terry Clune

Leading entrepreneur Terry Clune has been a busy man, as the Taxback.com, Transfermate and Immedis brands continue to expand across international and domestic markets.

Terry Clune is the founder, owner and CEO of Taxback.com and The Taxback Group. A graduate of Trinity College Dublin, Clune formulated the Taxback.com concept while working in Germany as a student.

Clune found himself paying about 50-60% tax in Germany and so he gave up his construction job and started figuring out how to get that tax back. Back in Ireland, Clune processed tax refund applications for his friends and other students. The service proved popular and after Clune graduated he employed three staff and opened a small in office in Dublin.

The company experienced rapid expansion and developed a range of additional services for a diverse range of clients. The Taxback Group now has a global presence of 32 offices in 24 countries.

The company is now estimated to be worth up to €300m and last year signed a deal with Airbnb that will make the Irish company the ‘preferred tax partner’ for Irish Airbnb hosts.

US EXPANSION

Clune also owns a majority share in money transfer business Transfermate, winner of the Grand Prix award at last year’s eir Elevation Awards.

The cross-border payments platform recently announced that they have successfully added New York to their list of regulated territories.

The company has in excess of 7,000 corporate clients in over 50 countries and a growing following of users using its payments platform via integration with accounting software packages.

Clune is also chairman of global financial services group, Immedis. Immedis was formed in late 2016 when Taxback Group pulled out its specialist corporate division and rebranded it Immedis.

The organisation recently announced the acquisition of US international payroll company Expaticore. The $10m acquisition signifies a key step in the organisation’s ambitious growth plans, and its commitment to being the best in the field of international payroll and tax services.

Expaticore has an established international client base and the €10m acquisition is set to strengthen Immedis’ capabilities in the US and globally. Immedis’ current client list includes amongst others Airbus, ESB International and Lifes2Good.

Immedis’ growth plans include a target of 150 new employees over the next three years.

Business & Finance, Business Person of the Month

Business Person the MonthBusiness & Finance, in association with KPMG, rewards excellence in business through the ‘Business Person of the Month’ award. This award seeks to recognise noteworthy achievements in business leadership, and, particularly, those that make a telling contribution to the wider business community in Ireland.