Biden’s ‘global minimum’ tax rate 21%-28% carries "BIG DANGERS" for Ireland


#1

If this passes? Ireland has known this day would come for years and we have, as usual, squandered our opportunity to improve our domestic economy enough that we could operate without stealing the MNC taxes of other countries.

Instead we thought we could be clever and get rich selling each other houses…again. Wonder if we will have a major correction on our way overly priced property? If the US corporations leave and you take away our property then we are left with just a skilled workforce… Interesting times a head, hopefully it won’t pass and Joe will remember the bowl of shamrock we gave him on Paddy’s Day!


#2

If you take a look at Poachers thread, AIC v GDP. a good argument could be made that if would be good for us in some ways if the US corporations just up and left tomorrow, the majority no longer get very much from the scam


#3

Zero coverage of this on Newstalk or RTE’s morning radio shows that I heard. You would expect it to be headline news


#4

http://www.davidmcwilliams.ie/apple-decision-shows-ireland-is-not-a-tax-haven/

Ireland’s corporation tax take is heading towards €10 billion per year. With a population close to 5 million, that’s €2,000 per year per citizen. Obviously, this comes on top of the incomes, share options, capital transfers and career opportunities for the 300,000 people who work in these companies.

The economist Seamus Coffey estimates that US companies in Ireland every year pay €8 billion in wages, spend another €4 billion on Irish contractors and another €4 billion on capital projects – on top of their corporation tax.

I wonder?


#5

RTÉ News. The Truth Matters!


#6

US companies already pay US tax on foreign income. All US taxpayers are assessed on world income and have been for many decades. Its just that none of the US high-tech companies have any meaningful foreign income. By design. And large amounts of US net income is shunted offshore. Given that one whole wing of the Democratic Party is a wholly owned subsidiary of the big tech companies this will not change anytime soon. Despite the headlines. When Apple, Google and Facebook etc pay the same percentage tax rate of gross income as say Big Oil then I’ll believe the press releases.