the tax take on the snake oil is still tiny, why risk legitimate business with this activity? Google is down to 2.5% corp tax, apple is almost down to 0%. the yanks are going to crackdown on this place if they see fit. the Brits already push back on the arrangement and the EU will move in with their CCCTB. going forward without change is a bad backup strategy.Originally Posted by Captain Willard
Most MNCs in Ireland don't pay anything like 12% CPT! There's probably a greater difference between Irish GNP figures which have fallen sharply in recent years and GDP figures which are improving ( and reflect the MNC's jokey presence ) in our great little country than anywhere else in the developed world! GDP figures are meaningless in the Irish context!
Much as people might think that Ireland is a centre of attention without our corporate tax rates and more importantly our loopholes on transfer pricing we would not attract high end multinational investment or the tens of thousands of jobs created by it.
The day the tax breaks end we will be nothing more to Europe in the eyes of multinationals than the Aran Islands are to Ireland today, irrelevant and isolated away from the centre of trade. Why on earth would you set up shop here with all the additional costs if it wasn't for the tax breaks? Especially in high end manufacturing that requires the movement of goods on and off the Island at additional transport costs.
All other things being equal you would go to the UK and its 62 million population if you required an English speaking country, if not then it would make far more sense to base yourself in mainland Europe.
Its not just Google, its Dell, Intel, Pfzier, Facebook, Havok, IBM, Oracle, Apple, etc. etc. etc.
Do you really think for one minute that any of them would be here, we would revert overnight to an agricultural based economy.
I don't think there is a choice, we know that this current situation will not last. If the beachheads become useless to the leaches they detach from the host we know how that works. It's not a question of if but when. giving tax breaks to the wealthiest corporations in the world will only further help to antagonize any support Ireland might in the world. not a sustainable strategy.
do you know what is sustainable? a domestic industry which might well be food, energy and agriculture related
Like we did in the 1950's....
Yeah, multinationals might not be around in 10 or 20 years time, so why not just kick them all out now ?
Then we can get back to the glory days of self sufficiency.
Are you an economic spokesperson for the shinners btw ?
*PUTS ON FF HAT* its because of the knowledge economy. *TAKE IT OFF AGAIN AND WASHES HAIR*
we are a nation of peasants always looking for the quick small dollar if that costs us in the long run ... ah shure twil be grand to be sure to be sure .... its all about the money ... dont kid yourself that ireland is special
Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes - Bloomberg
it's not a question of political allegiance but of economic reality.
You're line of reasoning is silly.
Say you are unemployed an I can get you a job working in a multinational. Are you seriously going to turn it down because the multinational I'm getting you a job in, might not be around in a few years time?
Let me repeat that MNCs are a net benefit to Ireland.
They:
- Pay taxes.
- Act as tax collectors. Saving us a fortune in doing so.
- Pump billions into the economy via wages.
- Support charities, sporting events, schools etc.
- Create secondary employment.
- Bring in new technology, resources, research, fresh ways of thinking etc.
- Act as magnets for further foreign investment.
- Introduce new experiences and educational opportunites for their employees and the wider community.
And after all that, the best you can come up with is tax them more???
Who do you work for?
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