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Thread: MNC Corporation Tax - avoidance and payments. UPDATE June 2014- EU State Aid Investigation to Commence

  1. #151
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    Default Re: MNC Corporation Tax - avoidance and payments.

    ..PPars, promises, SNAs, home helps, garda stations,.....

  2. #152
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Quote Originally Posted by PaddyJoe View Post
    When Tim Cook was asked about the 2% rate negotiated with Ireland at the Senate hearing today he immediately referred to Apple's arrival in Ireland in 1980. The implication seemed to be that the 2% rate was set back then.
    Wasn't actually specified though. I'm sure somebody will be asking Kenny and Noonan for further details.
    As soon as today, by the looks of it. Enda will be in Brussels and can expect some searching questions.

  3. #153
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Quote Originally Posted by PaddyJoe View Post
    There's more clarity on the 2% rate on page 20 of the Congressional sub committe report:

    So in fact it appears that the rate is reviewed periodically.
    http://www.ft.com/intl/cms/ab635df2-...144feab7de.pdf
    Being said that whatever year set it, it breaches EU law.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  4. #154
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    Default Re: MNC Corporation Tax - avoidance and payments.

    One of several threads we've had on this in the last three years -

    http://www.politicalworld.org/showth...00-companies-(

    Nessa Childers is the only Irish politician I can think of who has pursued the issue of transaction tax and taxes on MNCs.

    The left parties generally, Paul Murphy in particular, perhaps too - and certainly the Socialist Party has been the most vocal about changing tax laws to tax the rich, but have been quite unrealistic I think in dismissing what the effects would be on the Irish economy, if MNCs left for other havens. It should be done, but done with eyes open and with a plan for how we would handle the loss of 100,000 plus well paid jobs, which in turn create at least the same number again in multiplier effect.

    On the other hand, it is costing us 100 million a year in additional tax to the EU, as it distorts our national earnings and GDP stats.

    It was possible to buy Ireland cheap in the 1980s: what would have sounded like a few jobs in most countries was, in our tiny population, an increase in wage earnings that pushed us into boom.

    At the same time as the amount of tax paid has fallen, so have wages.
    The results of all this seems to be massive amounts of cash sitting off shore on company balance sheets. Do they then borrow against this, for investment, or does it just sit there as dead money ?
    Last edited by C. Flower; 22-05-2013 at 08:24 AM.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  5. #155
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Quote Originally Posted by C. Flower View Post
    The results of all this seems to be massive amounts of cash sitting off shore on company balance sheets. Do they then borrow against this, for investment, or does it just sit there as dead money ?
    Apple recently issued a Bond and used the Bond proceeds to pay a dividend.

    The Bond sale was a roaring success as it is backed by their offshore cash mountain

    Zerohedge, quite aptly, described it as Hedge Funds lending cash to Apple so that Apple can use the cash to pay a dividend to the Hedge Funds.
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  6. #156
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Quote Originally Posted by Slim Buddha View Post
    As soon as today, by the looks of it. Enda will be in Brussels and can expect some searching questions.
    Was it Bruton on the air-waves recently criticising France for having certain deals with companies on tax?

    Not so in Ireland, he said, where it is a transparent 12.5%
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  7. #157
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Quote Originally Posted by DCon View Post
    Was it Bruton on the air-waves recently criticising France for having certain deals with companies on tax?

    Not so in Ireland, he said, where it is a transparent 12.5%
    I thought Brian Hayes looked a little uncomfortable last night when he lied for the Government and contradicted what was said about Ireland in the Senate hearings.
    Makes you wonder why all the tech companies have been flooding in here - was it for our 12.5% corp tax, our friendly personalities, our weather or was there something else in the air, sniff sniff I smell 2% or less.. Leinster House can keep lying but I think the world is more likely to believe the White House.

  8. #158
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Quote Originally Posted by The Moth View Post
    I thought Brian Hayes looked a little uncomfortable last night when he lied for the Government and contradicted what was said about Ireland in the Senate hearings.
    Makes you wonder why all the tech companies have been flooding in here - was it for our 12.5% corp tax, our friendly personalities, our weather or was there something else in the air, sniff sniff I smell 2% or less.. Leinster House can keep lying but I think the world is more likely to believe the White House.
    I'd believe the Kremlin before I'd believe Leinster House.

  9. #159
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Bloomberg taking a peek -

    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  10. #160
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Quote Originally Posted by C. Flower View Post
    On the other hand, it is costing us 100 million a year in additional tax to the EU, as it distorts our national earnings and GDP stats.
    And IDA freebies, based on job promises.

    Does anyone think that we follow up on the promises and have a method to claw back freebies if promised jobs do not materialise?

    It is all just good PR for the politicians of the day
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  11. #161
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Richard Murphy

    Ireland is a doormat state when it comes to tax: a place where companies wipe the tax-avoiding dirt from their feet > http://www.taxresearch.org.uk/Blog/2...heir-money-on/

  12. #162
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Update from Brussels -

    BRUSSELS (MNI) - EU leaders have stepped up their fight against tax evasion
    by multinationals and individuals, urging lawmakers to speed up efforts to close
    loopholes and improve cooperation between tax authorities.

    Meeting in Brussels Wednesday, the 27 leaders of the world's largest
    trading bloc, threw their weight behind a plan by the European Commission to
    kill off by 2015 the most common methods used by multinational corporations to
    avoid taxes, through a coordinated revision of double taxation treaties that
    would insert clauses to prevent double non-taxation and double deductions.

    They also backed a call for the introduction of a general anti-abuse clause
    in all taxation treaties that would make it harder for corporations to avoid
    taxes and said that work should continue on strengthening the Code of Conduct on
    business taxation.
    https://mninews.marketnews.com/mni/m...news.com&sid=1
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  13. #163
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    Default Re: MNC Corporation Tax - avoidance and payments.

    Good stat from Colette Browne's piece

    http://www.irishexaminer.com/opinion...re-231914.html

    In 1952, corporate tax generated 32.1% of all federal taxes while payroll tax amounted to 9.7% of revenue. Today, corporate tax amounts to just 8.9% of revenue with payroll taxes generating 40% of income.

  14. #164
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    Default Re: MNC Corporation Tax - avoidance and payments.

    iDodger


  15. #165
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    Default Re: MNC Corporation Tax - avoidance and payments.

    The IDA are tweeting positive things on #IrelandTaxFacts

    bless

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