Ireland’s tax advantages under new EC threat - Eamon Quinn → tribune.ie/business/news/art … ec-threat/
The drumbeat gets closer and close. The more the Irish government is beholden to the ECB and EU the less they will be able to resist. So goodbye business model, Ireland, Inc.
Indeed, its going to get harder and harder to say no to this the more debt we have to the ECB etc, and the more permissions we ask for re bail outs etc …
At the end of the day, what the Euro experiment seems to have proven is that it doesn’t seem possible to be able to have a shared monetary policy without some sort of a harmonized fiscal policy. Look where it’s gotten Ireland to.
We seem to have tried to follow the US’s extreme capitalist fiscal policy while part of a monetary policy suited to more socialist partners. Low business taxes and low taxes on high earners. We now know that we created the biggest business cycle in our history and now we’re on the wrong side of it.
I just can’t see how we can survive without aligning ourselves with France and Germany who are calling the shots. Don’t think us leaving the Euro is realistic. So higher income taxes, and higher business taxes. Hopefully we can at least bargain for a handout to align our infrastructure and social care system and write off our bank bailout.
Where does that leave our tax revenues once Intel, Google, Paypal, Ebay, Dell, HP (and thats just a few obvious ones that spring to mind) jump ship?, which of course they will. Default and exiting the euro will be the only option if this happens, the effect on house prices, well, its not pretty.
The googles and Ebays aren’t really the issue, they have an actual presence here and that won’t change just because of corporate tax.
The issue is more companies you probably never heard of whose “HQ” is the equivalent of a PO box.
Where it’ll leave our tax situation is hard to say exactly. On the one hand we’ll no longer get free money on the other hand our GDP will no longer be distorted by it and the calls for spending on that basis will be gone.
As the first comment on the article says, what about the “cast-iron gaurantee in the Second Lisbon Treaty Referendum” not to do this?
Only one with an avatar as yours could ask such a question
A passport sale. Buy one get one half price. Shure it’s great to be Irish
It’s okay though, our new knowledge based economy will offset any losses in corporation tax.
cast iron is brittle - should have gotten carbon steel
( Cast iron is carbon steel (+2%C) )
Now a low carbon steel (<0.25%C) with a bit of silicon, that’s what I use for my European assurances. Slow day.
iron maybe malleable but the word ain’t. Good luck in the knowledge economy.
CCCTB is about how you measure the profits which are assessable to tax, not the rate at which you tax them as far as I know.
It would put an end to all these brass plate operations and profits being funnelled here to avoid higher tax in other countries. This is a good thing and the sooner we stop relying on these grubby revenues the better.
Yep, its about the base not the rate.