Register to Comment
Page 3 of 15 FirstFirst 1234513 ... LastLast
Results 21 to 30 of 148
Like Tree82Likes
  1. #21
    Sister Mercedes Sister Mercedes is offline
    Sister Mercedes's Avatar
    Join Date
    Dec 2011
    Posts
    21,012

    Quote Originally Posted by gerhard dengler View Post
    But even this tiering is a misnomer because we know that the economic activity booked here by FDI MNC's, a lot of that activity is actually generated outside of Ireland. Therefore that activity doesn't generate income taxes for example in this jurisdiction. It doesn't generate VAT in this jurisdiction either. The only tax that economic activity does generate is CT for the state.
    And the MNC profits don't get invested or spent here. The profits either go to the shareholders in California or sit in offshore bank accounts waiting to be repatriated back to the US.
    Sign in or Register Now to reply

  2. #22
    Orbit v2 Orbit v2 is offline

    Join Date
    Dec 2010
    Posts
    9,314

    Quote Originally Posted by gerhard dengler View Post
    The percentage figure disclosed, 80%, tells it's own story for sure.
    80% depicts at least a two tiered economy, one tier being FDI MNC's and the other tier being the indigenous sector.

    But even this tiering is a misnomer because we know that the economic activity booked here by FDI MNC's, a lot of that activity is actually generated outside of Ireland. Therefore that activity doesn't generate income taxes for example in this jurisdiction. It doesn't generate VAT in this jurisdiction either. The only tax that economic activity does generate is CT for the state.

    The wider implication of the 80% disclosure is that the generic/indigenous sector appears to be struggling.

    One other thought is that our policy makers will be more open to lobbying from the FDI MNC sector.

    This country really does need to create more sustainable industrial/economic policies
    I think you are confusing GDP with corpo tax there. Our GDP figures may be inflated by multinationals, but corporation tax is real money and they don't hand it over without good reason. The corporation tax that is paid here, comes after all of the deductions due to financial wizardry, patent royalties etc. not before it.

    Personally I think the influence of MNCs here is very much positive on balance. Aside from the salaries and corp. tax, the skills they create can often be transferred to indigenous enterprise. Where I think local companies suffer is in having to compete with the high wage rates that MNCs can offer.
    Sign in or Register Now to reply

  3. #23
    Mushroom Mushroom is offline
    Mushroom's Avatar
    Join Date
    Nov 2009
    Posts
    15,088

    Quote Originally Posted by Sister Mercedes View Post

    The PS know this level of Corp Tax Receipts is unsustainable. Just like they knew the level of stamp duty tax receipts was unsustainable. But their motto is "make hay while the sun shines". In the years of booming tax receipts, they get contractual commitments on pay increases, lump sums, pensions, early retirement etc. Then when the boom has gone away they say "Not my problem. You're committed to paying me the money so cut elsewhere, increase tax elsewhere, but you can't touch mine."

    High praise indeed! The members of the PS must be exceptionally cute hoors altogether. It makes a modest chap like me feel my bosom swell with pride.

    Incidentally, the PS (as you collectively decribe us) is made up of some 350,000 Irishmen and women - including, undoubtedly, some of your friends, neighbours and family members. It's not an enigmatic tribe of strangers all living in a gated village up in Foxrock and Dalkey! If you want to change the culture then why not start by tackling the members of the PS who you personally know? Good luck with that!
    Sign in or Register Now to reply

  4. #24
    PC Principle PC Principle is online now
    PC Principle's Avatar
    Join Date
    Jul 2016
    Posts
    2,859

    Quote Originally Posted by robut View Post
    Warning over foreign multinationals paying 80pc of corporate tax - Independent.ie PUBLISHED - 22/02/2017



    I would imagine a substantial amount of indiginous small business, apparently backbone of the country, would pay little or no Corporation Tax because their is nothing left / no profit left to charge CT on after everything else is paid? (I am genuinely in this boat )

    What does this tell us? If most CT is paid by Foreign Multinationals does it mean that most indiginous Irish SMEs are actually struggling, just about staying above water? OR are many/most actually "fiddling" the books some way to show no profit, which will probably be an accusation made by some here?

    My reply is successive Irish Governments have concentrated on FDI but only and always paid lip service to local indiginous small to medium business. Not great support ..

    To the broader Q - it would seem we are off again with eggs in one basket. One trick pony. Dependence on this "12.5%" corporation tax which now is under attack from EU, UK Brexit and Trump ( US may drop to 15% soon )

    Thoughts PIE'ers ...
    This is why the Irish government have always been your worst enemy.

    Time for Irish people to stop being so angry and smug about Brexit and Trump and instead start to refocus your energies at the real issues you lot pretend don't exist.

    You are still on a sinking ship and are a one trick pony economy. And you pay over 50% of your money for the privilege, whilst you have no wars to go through or meaningful defense forces. But have a hefty social welfare bill.

    That's why I left (twice). Waste of time that country. No future.

    You better pray those American MNC's don't repatriate.

    Sorry, but that's how it is.
    Last edited by PC Principle; 22nd February 2017 at 03:01 PM.
    Sign in or Register Now to reply

  5. #25
    Clanrickard Clanrickard is offline
    Clanrickard's Avatar
    Join Date
    Apr 2008
    Posts
    39,149

    Quote Originally Posted by March Hare View Post
    Are these business expenses not tax deductible for the Revenue
    Yes but you still have to pay them. If you are making a loss tax deductibility is the least of your worries.
    Sign in or Register Now to reply

  6. #26
    Clanrickard Clanrickard is offline
    Clanrickard's Avatar
    Join Date
    Apr 2008
    Posts
    39,149

    Quote Originally Posted by Mushroom View Post
    High praise indeed! The members of the PS must be exceptionally cute hoors altogether. It makes a modest chap like me feel my bosom swell with pride.

    Incidentally, the PS (as you collectively decribe us) is made up of some 350,000 Irishmen and women - including, undoubtedly, some of your friends, neighbours and family members. It's not an enigmatic tribe of strangers all living in a gated village up in Foxrock and Dalkey! If you want to change the culture then why not start by tackling the members of the PS who you personally know? Good luck with that!
    I think Sister is refering to the fat cats at the top of the tree who seem to be largely insulated from the real world.
    Sign in or Register Now to reply

  7. #27
    Watcher2 Watcher2 is offline

    Join Date
    May 2010
    Posts
    29,340

    Quote Originally Posted by tonic View Post
    We have a lot more to offer FDI companies than just our CT rate, language, culture, workforce, EU, lifestyle etc and our FDI companies are reasonably well spread in terms of industry sector.
    Our own companies provide employment while FDI companies provide the bulk of tax paid, it would be better if there was a more even spread, but it's not vital that it should be so.

    In other words something to keep in mind and look to what can reasonably be done to improve the situation, but I would think nothing drastic needs to be jumped into at this stage.
    Most EU countries do business in English now. Many speak better English and more distinctly, than many Irish to be frank. What culture are talking about - Drinking? the seanachai? some fiddly-idle-die music? Lifestyle - weather, drinking, poor infrastructure, no international schools for kids etc? Honestly, what are you talking about? And how do we have more of it than the others?
    Sign in or Register Now to reply

  8. #28
    Watcher2 Watcher2 is offline

    Join Date
    May 2010
    Posts
    29,340

    Quote Originally Posted by gleeful View Post
    The term "foreign multinational" is a bit odd. All multinationals are mobile and subject to moving jobs and capital around, regardless of where their HQ is.
    I think they mean as opposed to indigenous multinationals like Glanbia, Kerry, CRH etc
    Sign in or Register Now to reply

  9. #29
    Clanrickard Clanrickard is offline
    Clanrickard's Avatar
    Join Date
    Apr 2008
    Posts
    39,149

    Quote Originally Posted by Watcher2 View Post
    Most EU countries do business in English now. Many speak better English and more distinctly, than many Irish to be frank. ?
    No they don't. That is a myth. Many speak English well but can be sidetracked bu colloquialisms and the like. Even Dutch and Swedes can get confused especially if you get technical. Also the culture refers to business culture and the use of the Common Law system.
    Sign in or Register Now to reply

  10. #30
    tonic tonic is offline

    Join Date
    Dec 2009
    Posts
    47,872

    Quote Originally Posted by Clanrickard View Post
    No they don't. That is a myth. Many speak English well but can be sidetracked bu colloquialisms and the like. Even Dutch and Swedes can get confused especially if you get technical. Also the culture refers to business culture and the use of the Common Law system.
    That would be correct.
    Sign in or Register Now to reply

Page 3 of 15 FirstFirst 1234513 ... LastLast
Sign in to CommentRegister to Comment