Looks like Revenue are in a spot of bother

Rightwing

Iwasfrozen wrote: »

How will it happen? There is no mechanism in which the EU can compel Ireland to change it's corp tax policy and it's not in our interests to comply.

They'll manage it somehow.
Not in our interests in a way only. We've become far too reliant on MNCs and have little indigenous industry as a result.

Iwasfrozen

Rightwing wrote: »

They'll manage it somehow.
Not in our interests in a way only. We've become far too reliant on MNCs and have little indigenous industry as a result.

How? You're trying to pass off something that's not possible without our compliance as inevitable.

Ireland doesn't have a large population in the centre of Europe like France or Germany does, our capacity to develop indigenous industry is much more limited than theirs.

Attracting foreign investment, particularly American, is the only advantage we have over them.

Rightwing

Iwasfrozen wrote: »

How? You're trying to pass off something that's not possible without our compliance as inevitable.

Ireland doesn't have a large population in the centre of Europe like France or Germany does, our capacity to develop indigenous industry is much more limited than theirs.

Attracting foreign investment, particularly American, is the only advantage we have over them.

If the EU doesn't do it, the Americans will. One way or another these tax avoiders will be brought into line. No question about that.

And no point in blaming in Enda folks.

Iwasfrozen

Rightwing wrote: »

If the EU doesn't do it, the Americans will. One way or another these tax avoiders will be brought into line. No question about that.

And no point in blaming in Enda folks.

How? Again you're taking something that's impossible and claiming it's inevitable.

In order to agree on making MNCs pay more tax would necessitate the co-operation of every country in the EU and it's not in our interests to comply.

emo72

Rightwing wrote: »

And no point in blaming in Enda folks.

wouldnt blame him. however it would be prudent to be a bit forward thinking, instead of reactionary. at the moment we have all our eggs in one giant basket.

is there any politician or senior civil servant thinking about the future and how to avoid geting caught out if they start to leave? is there ****.

it will be "it happened on your watch" dail retort ****.

is anyone thinking ahead?

Rightwing

emo72 wrote: »

wouldnt blame him. however it would be prudent to be a bit forward thinking, instead of reactionary. at the moment we have all our eggs in one giant basket.

is there any politician or senior civil servant thinking about the future and how to avoid geting caught out if they start to leave? is there ****.

it will be "it happened on your watch" dail retort ****.

is anyone thinking ahead?

Good post.

They are thinking ahead alright, on the best way to secure their multiple pensions.

ElizaT33

Rightwing wrote: »

Good post.

They are thinking ahead alright, on the best way to secure their multiple pensions.

So true

andrewdeerpark

JD Dublin wrote: »

The effective rate in France for small businesses is about 7% - lower than our 12.5% rate. You never hear that from anyone though. At least we have a transparent system where everyone gets the same rate. Theoretically anyway.

Anyway for all the people worried that Apple etc might leave Ireland - the 12.5% is not enough to keep them here. They could just run a brass-plate operation for that, like lots of the banks in the IFSC, and run their profits through Ireland that way. They are here for other reasons, like the English-speaking, well-educated workforce with ready access to the European market.

Are you mad; the Double Irish crossed with the dutch sandwich with a quick stop off in the Cayman Islands is transparent????

JD Dublin

andrewdeerpark wrote: »

Are you mad; the Double Irish crossed with the dutch sandwich with a quick stop off in the Cayman Islands is transparent????

The debate was orginaly about Ireland's tax rate, not Double Irish. The Double Irish is as a result of large American MNCs not wanting to repatriate their profits. It is also a result of these huge ultra profitable companies sucking in vast amounts of resources from the rest of the world, then sitting back and salting it away as pointed out by previous posters.

If the Americans and the rest of the world change the tax laws so that companies have to pay their taxes where their customers are located, then it all changes. That is what Base Erosion and Profit Shifting ( BEPS ) is all about. And once the governments of the large economies get around the table, they will agree to BEPS then the jig will be up for the large MNCs who shelter income in Ireland. We won't miss a lot of them because they pay nothing in Corporation Tax, they will continue to pay their employees and hence PAYE.

andrewdeerpark

JD Dublin wrote: »

The debate was orginaly about Ireland's tax rate, not Double Irish. The Double Irish is as a result of large American MNCs not wanting to repatriate their profits. It is also a result of these huge ultra profitable companies sucking in vast amounts of resources from the rest of the world, then sitting back and salting it away as pointed out by previous posters.

If the Americans and the rest of the world change the tax laws so that companies have to pay their taxes where their customers are located, then it all changes. That is what Base Erosion and Profit Shifting ( BEPS ) is all about. And once the governments of the large economies get around the table, they will agree to BEPS then the jig will be up for the large MNCs who shelter income in Ireland. We won't miss a lot of them because they pay nothing in Corporation Tax, they will continue to pay their employees and hence PAYE.

I disagree, no one has any issue with Ireland's low corporation tax, I would defend that myself. Its just all the crookery and schemes the mean companies like Apple are paying less than 2% tax on massive profits.

On another point, I would love to know where the name double-Irish came from it must be over a "wolf of wall street" type binge weekend in London or one of those financial spots! Their must be some story their...

the_syco

EU launches probe into Revenue 'special deals' for multinational firms

So... they don't want us to pay back what we borrowed? Because if all the companies leave, we won't have money to do jack sh|t.

Rightwing

the_syco wrote: »

So... they don't want us to pay back what we borrowed? Because if all the companies leave, we won't have money to do jack sh|t.

Don't worry. They all won't leave.

Rule no. 1 - Make a profit. Now, when the profits go, like the drug patents recently, then tax suddenly becomes a non issue.

Ireland must compete on costs, infrastructure, providing highly skilled employees etc

Iwasfrozen

Rightwing wrote: »

Don't worry. They all won't leave.

Rule no. 1 - Make a profit. Now, when the profits go, like the drug patents recently, then tax suddenly becomes a non issue.

Ireland must compete on costs, infrastructure, providing highly skilled employees etc

And how is Ireland to compete in terms of infrastructure against countries in the center of Europe who have larger population densities and share land borders with other countries?

poppyvally

Piliger wrote: »

That's a gross distortion of work in a multinational. What are you thinking of ? canning baked beans or something ?

Maybe a VERY slight exaggeration on my part but I do know a guy who works in a factory in Shannon & he's sick of doing the same thing day after day....... But hey! the multinationals pay good money for your soul.
I know a girl who landed a "big" job with Google in Dublin She has to meet certain deadlines to get a bonus of €4,000

Piliger

poppyvally wrote: »

I know a girl who landed a "big" job with Google in Dublin She has to meet certain deadlines to get a bonus of €4,000

Oh dear god !! Slavery !!!

Piliger

Just spotted this article in the US, about the rate of tax being experienced by big corporations there. Interesting when people from over there attack Ireland as some kind of Tax Haven...

"In 2012, 43 corporations with a combined annual profit of more than $35 billion paid an average effective tax rate of -8.9% for total savings just shy of $3 billion. Their total political spending during the 2012 election cycle: $102,082,007, a 34% return on investment. Forget stocks and bonds — It’s time to invest in a lobbyist. "

Nb: The actual report this article is based on is linked on the third line of text "a report".