Shire to move tax base from UK to Ireland

Shire to move tax base from UK to Ireland

rte.ie/business/2008/0416/shire.html

This is an interesting one. They are creating no jobs here, just using Ireland as a tax haven.

Uh oh - if we lose the last competitive advantage we have, things will not be pretty.

Jim has got a very good point there.

Wouldn’t Glaxo SmithKline and Astra Zeneca benefit from a similar structure?

“in danger of”? “being labelled as”? Let’s stop playing the cute hoor here.

Veto :slight_smile:

Wasn’t there changes in the Finance Bill to encourage the setting up of HQs in Ireland? Are we in danger of overplaying our hand.

Veto what - a (likely informal) agreement between the rest of the EU to introduce prevent irish based subsidaries using transfer pricing to evade tax - using their own already existing national tax laws, over which we have zero influence.

Good luck with that.

The only effect this will have is that the UK, the only significant country potentially in our corner, may switch sides before the shouting starts.

Remember germany just declared that any payments to liechtenstein will be treated as attempted tax evasion by default - should they do the same to ireland (even if restricted to payments between related companies), things could get interesting real fast.

Two more big UK companies considering moving their tax base here

Corporations are ruthless psychopathic legal entities whose sole purpose is to make profit for their shareholders.

It would be wrong for any corporation not to exploit this loophole for their shareholder’s advantage.

Every single corporation in the EU should move it’s tax base to Ireland if it can save money for it’s shareholders.

Besides, our government is strapped for cash. When this tax rises to 40%, then we get a nice windfall. It will not be difficult for the EU to persuade us to join the proposed common consolidated corporate tax base (CCCBT) despite all the play acting over The Lisbon Treaty. The bottom line, ladies and gentlemen is that we are way down at the bottom of a very deep hole that we dug for ourselves! We will have little control over our own destiny :exclamation: We are mortgaged to the rooftops and will have to jump to the crack of the whip from the international bankers. Oh! If they only came waving axes like the IRA or UVF, instead of pin-stripped suits; we would have been ready for them!

That would hurry up the closing of these loopholes, that’s for sure.

It won’t last. VAT harmonisation at EU has already been talked about. When this gets reversed by UK and other big EU members Ireland will suffer.

ft.com/cms/s/0/8a529a5a-15e9 … fd2ac.html

If you are a shareholder of any corporation that is earning income and paying tax in the EU, but not headquartered in Ireland, you should be lobbying that company to shift their tax base to Dear Old Ireland.

Companies are such exploitative tight arses, I’m suprised they haven’t all done it already.

True - but it’s not a one way bet. As soon as said loopholes are closed, it a loser financially, and it’s a major PR loser from day one.

Imagine a major corporation going to the effort of moving, paying lots of relocation expenses, and then within a few years, the financial advantages are gone - oops. And make no mistake, if any of the european big boys relocate here, the door will shut damned fast.

The focus isn’t just on Ireland. Cyprus is a very nice place to set-up a structure for example!

Bono wasn’t long about fucking off to The Netherlands when they closed the U2 loophole.

The hypocritical cunt.

AstraZeneca possibly getting in on the act too…

It’s a golden era for Irish accountants