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Thread: Crazy idea maybe, just throwing it out there: No Corporation Tax

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    Politics.ie Member vanla sighs's Avatar
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    Default Crazy idea maybe, just throwing it out there: No Corporation Tax

    What would happen? The coffers would empty even quicker or there would be a massive influx of FDI into Ireland? I'm not saying I agree with it or not, I'm just throwing the suggestion out there to get opinions. I know Brussels would go ballistic of course but taxation is after all a national issue. Thanks.

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    no, not necessary. 12.5% is low enough. If you want to encourage further investment, the cost of doing business including energy, wages and provision of good reasonably priced telecoms and web access and infrastructure all need to be looked at.

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    Politics.ie Member LeDroit's Avatar
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    Much as I despise taxation in general there is probably an argument to suggest that a 'low tax' policy would be just as effective as a 'no tax' policy in attracting FDI. I think there is ample room to reduce the rate however, down to probably 5%.

    When sitting at a board meeting there will be few directors who weren't impressed with 5% who would be with 0%. If someone won't come in at 5%, there are obviously other factors stopping them. An example could be geographical logistics.

    If we were to go to 0% I think it should be dependent on creating a set number of jobs. You could do it cleverly in allowing payroll to be 100% written off against their tax bill. This would encourage employment as any worker is better than paying the tax and not employing someone. They should implement it now for all existing companies, that'd bring unemployment numbers down.
    "A govt big enough to give you everything you want, is strong enough to take everything you have" Thomas Jefferson

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    Quote Originally Posted by galleyslave View Post
    no, not necessary. 12.5% is low enough. If you want to encourage further investment, the cost of doing business including energy, wages and provision of good reasonably priced telecoms and web access and infrastructure all need to be looked at.
    What he said. Keep it as it is for now but focus on reducing the cost of doing business. Over the last number of years we have made some improvements in infrastructural links and there is no shortage of premises, no shortage of people willing to work but energy costs are too high, telecoms infrastructure is poor, wage costs are too high also. Work on these first and then revisit the 12.5% level... it may need to go lower. We have to focus on bringing investment back into the country and getting people back to work and we must be willing to do everything in order to achieve that.
    Happiness is a dry martini and a good woman … or a bad woman.
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    Politics.ie Member forest's Avatar
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    lets copy FYRO Macedonia's tax system
    Invest Macedonia | Tax Advantages
    "We know what to do, we just dont know how to get elected afterwards" Jean-Claude Juncker on how to fix the European economy

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    There is a EU limit on how low it can go.......think its around 10% if anyone can confirm with a linky
    Irish Property/Finance/Economic Discussion Website:
    www.thepropertypin.com

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    Politics.ie Newbie Dian Cécht's Avatar
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    Quote Originally Posted by blindjustice View Post
    There is a EU limit on how low it can go.......think its around 10% if anyone can confirm with a linky
    There is.... I’m not sure what it is though. Think it is actually 12.5%

    A corporation tax of about 7% is probably optimal but of course our masters in Brussels won’t allow it. That’s what you get for handing your independence to a bunch of foreign creeps.

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    Quote Originally Posted by Dian Cécht View Post
    There is.... I’m not sure what it is though. Think it is actually 12.5%

    A corporation tax of about 7% is probably optimal but of course our masters in Brussels won’t allow it. That’s what you get for handing your independence to a bunch of foreign creeps.
    its those same said foreign creeps whom will be paying for just about everything in this country next year when we have to go looking for funding

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    Remember, you would have to reduce it to zero for all the existing companies, both foreign and domestic. So that's a huge chunk of tax revenue gone.

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    Politics.ie Member LeDroit's Avatar
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    Quote Originally Posted by forest View Post
    lets copy FYRO Macedonia's tax system
    Invest Macedonia | Tax Advantages
    I likey!!

    A Flat Tax on corporate profit and personal income- hallelujah! If these guys get into the EU they'll cream us for FDI. Weather seems to be nice too.
    "A govt big enough to give you everything you want, is strong enough to take everything you have" Thomas Jefferson

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