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Thread: corporate tax avoidance and why do we shoot ourselves in the foot

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    Default corporate tax avoidance and why do we shoot ourselves in the foot

    good documentary here on how corporations pay little or no taxes on their profits
    The Tax Free Tour (VPRO, Marije Meerman) - YouTube
    Double Irish arrangement - Wikipedia, the free encyclopedia

    i know we're all used to the we need to protect our low corporation tax rate because it brings companies in and those companies employ people. in reality we've made ourselves part of global tax avoidance strategies, companies dont need to employ anyone to take advantage of ireland as a tax haven, and the exchequer makes about eur4bn in corporation tax a year (about 10% of total tax receipts).

    So these companies arent paying 12.5% corporation tax in ireland, we're neither the first nor last step in corporate tax avoidance. Profits move from where they are filtered through fictitious cost structures which brings the money through ireland briefly before it is further filtered further fictitious cost structures before finally finishing in some jurisdiction with 0% tax such as virgin islands.

    The evidence is that there is are estimated trillions in multinational cash flows engaged in tax avoidance schemes. How much of it comes through ireland I dont know, but it's clear that the amount is much more than the eur32bn profits which would generate eur4bn of corporation tax.

    So why do people defend our participation in this global tax avoidance ? Why dont we make these companies pay a fair contribution to society ?

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    sounds like a right load of bonox....
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Politics.ie Member A view from England's Avatar
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    Quote Originally Posted by dancl2000 View Post
    good documentary here on how corporations pay little or no taxes on their profits
    The Tax Free Tour (VPRO, Marije Meerman) - YouTube
    Double Irish arrangement - Wikipedia, the free encyclopedia

    i know we're all used to the we need to protect our low corporation tax rate because it brings companies in and those companies employ people. in reality we've made ourselves part of global tax avoidance strategies, companies dont need to employ anyone to take advantage of ireland as a tax haven, and the exchequer makes about eur4bn in corporation tax a year (about 10% of total tax receipts).

    So these companies arent paying 12.5% corporation tax in ireland, we're neither the first nor last step in corporate tax avoidance. Profits move from where they are filtered through fictitious cost structures which brings the money through ireland briefly before it is further filtered further fictitious cost structures before finally finishing in some jurisdiction with 0% tax such as virgin islands.

    The evidence is that there is are estimated trillions in multinational cash flows engaged in tax avoidance schemes. How much of it comes through ireland I dont know, but it's clear that the amount is much more than the eur32bn profits which would generate eur4bn of corporation tax.

    So why do people defend our participation in this global tax avoidance ? Why dont we make these companies pay a fair contribution to society ?



    Don't worry about it. They are all heading to the UK anyway.
    Firms rush to relocate in low-tax Britain - Telegraph
    “The problem with socialism is that you eventually run out of other people's money. ”
    ― Margaret Thatcher

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    Fly to Malta.

    You only pay taxes.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Politics.ie Member Kevin Doyle's Avatar
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    Quote Originally Posted by A view from England View Post
    Don't worry about it. They are all heading to the UK anyway.
    Firms rush to relocate in low-tax Britain - Telegraph
    And when it doesn't happen will the Torygraph highlight this
    Voters don't decide issues, they decide who will decide issues.

    George Will

  7. #7

    Default

    There is a seventeen page thread on this here: http://www.politics.ie/forum/economy...ation-tax.html

    Which was only started two days ago, this OP serves nothing more than duplication of the exact same debate.
    "If we can but prevent the government from wasting the labours of the people, under the pretence of taking care of them, they must become happy." - Thomas Jefferson

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    Not dissing the OP by any means as I'm in total agreement but there's already a thread suspiciously similar to this one here:
    http://www.politics.ie/forum/economy...ation-tax.html
    Humanity's objective/purpose - the complete & total weaponization of the natural world?

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    Quote Originally Posted by Tea Party Patriot View Post
    There is a seventeen page thread on this here: http://www.politics.ie/forum/economy...ation-tax.html

    Which was only started two days ago, this OP serves nothing more than duplication of the exact same debate.
    Ha snap!
    Humanity's objective/purpose - the complete & total weaponization of the natural world?

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    Politics.ie Member Howya's Avatar
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    Quote Originally Posted by dancl2000 View Post
    good documentary here on how corporations pay little or no taxes on their profits
    The Tax Free Tour (VPRO, Marije Meerman) - YouTube
    Double Irish arrangement - Wikipedia, the free encyclopedia

    i know we're all used to the we need to protect our low corporation tax rate because it brings companies in and those companies employ people. in reality we've made ourselves part of global tax avoidance strategies, companies dont need to employ anyone to take advantage of ireland as a tax haven, and the exchequer makes about eur4bn in corporation tax a year (about 10% of total tax receipts).

    So these companies arent paying 12.5% corporation tax in ireland, we're neither the first nor last step in corporate tax avoidance. Profits move from where they are filtered through fictitious cost structures which brings the money through ireland briefly before it is further filtered further fictitious cost structures before finally finishing in some jurisdiction with 0% tax such as virgin islands.

    The evidence is that there is are estimated trillions in multinational cash flows engaged in tax avoidance schemes. How much of it comes through ireland I dont know, but it's clear that the amount is much more than the eur32bn profits which would generate eur4bn of corporation tax.

    So why do people defend our participation in this global tax avoidance ? Why dont we make these companies pay a fair contribution to society ?
    I think you will find that companies do need to employ people in order to establish a presence in Ireland so that the company can avail of Irish tax laws.
    “Still paying, still to owe. Eternal woe! ” ― Paradise Lost, John Milton

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