Will the G8/Tax Law Changes screw the 26's Competitive Corp Tax Advantage?

[theskull1]

Seem to be that a fair few multinationals are providing the Irish Exchequer with plenty of tax wonga from profits generated in other countries (but transactions completed in ireland). Never mind the high quality employment

Just how big an impact an impact will these rows about Google/Apple/Microsoft have on Irelands attempts to drag its economy/finances out of the red?

[Syferus]

As long as we continue to be in bed with and make sweet love to big corporations we'll be just fine. Let the lobbyists work their magic and grind any worthwhile legislation to a standstill. For once we get to be on the winning team.

[Declan]

It'll be interesting to see alright considering it's the highest visited story on FT and Reuters. Were a bit like the whore in Pretty Woman really just hoping the MNCs continue to turn up in the white limo

[Main Street]

Seem to be that a fair few multinationals are providing the Irish Exchequer with plenty of tax wonga from profits generated in other countries (but transactions completed in ireland). Never mind the high quality employment

Just how big an impact an impact will these rows about Google/Apple/Microsoft have on Irelands attempts to drag its economy/finances out of the red?

Where do you get the information that Google/Apple/Microsoft pay taxes of any significance in Ireland on profits generated  by them in other countries? I don't know about Apple but Microsoft and Google have HQ here and pay minuscule amounts of tax on that income. They are able to avoid tax by having subsidiary companies in offshore tax havens that collect the royalty payments.
These royalty payment are offset as an expense against the original profits. Google/Microsoft etc, pay corporation tax in Ireland on the declared profits after these extensive royalty payments are deducted from their profits. And in the tax haven Island, the subsidiary pays zero tax on that income from royalties.
The issue with corporation tax is not the 12.5%, it's with the actual income declared after these tax avoidance schemes are acted upon. And these schemes exist with the total connivance of successive Irish governments. This tax avoidance scheme is called the "Double Irish".

[Declan]

Interesting hearings in the US Senate today. Apple currently being questioned by John McCain

95 per cent of Apple's R&D is in the US; 1 per cent in Ireland; most of Apple's profits routed through Ireland - McCain
3:13 p.m. Tue, May 21

64% of Apple's global income was recorded in Ireland in 2011 where only 4% of staff and 1% of customers are located - Villanova professor
3:27 p.m. Tue, May 21

[Syferus]

I knew the was a reason Apple is so wonderful. #stevejobs4life


Posted from my iPhone 5

[armaghniac]

95 per cent of Apple's R&D is in the US; 1 per cent in Ireland; most of Apple's profits routed through Ireland - McCain
3:13 p.m. Tue, May 21

Of course the logical cure for this is to move Apple's R&D to Ireland and spend the profits here.

[Syferus]

You'd think a man with a name like John McCain would be nicer to the poor auld Paddies.

[theskull1]

John O'Dowd giving the Irish government  a slating about their relationships with the likes of apple

[glens abu]

John O'Dowd giving the Irish government  a slating about their relationships with the likes of apple

Rightly so

[armaghniac]

John O'Dowd giving the Irish government  a slating about their relationships with the likes of apple

What is the basis of his "slating"?

[glens abu]

John O'Dowd giving the Irish government  a slating about their relationships with the likes of apple

What is the basis of his "slating"?

That they are allowing apple to pay 2% instead of 12.5% CT

[mayogodhelpus@gmail.com]

O'Dowd an enemy of the Republic. This should be shown to Irish voters, watch SF disappear in the 26.

[glens abu]

O'Dowd an enemy of the Republic. This should be shown to Irish voters, watch SF disappear in the 26.

Just agrees in equality but sure you would know feck all about that,squeeze the pleb for all he is worth but let the big lads cheat.Is that what the men of 16 died for.Republic my arse.

[mayogodhelpus@gmail.com]

O'Dowd an enemy of the Republic. This should be shown to Irish voters, watch SF disappear in the 26.

Just agrees in equality but sure you would know feck all about that,squeeze the pleb for all he is worth but let the big lads cheat.Is that what the men of 16 died for.Republic my arse.

No, SF lunacy to add tens if not hundreds of thousands to the dole queue. Economic terrorists.