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 Post subject: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 6:03 pm 
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Our corporation tax is in play. Our 'beggar thy neighbour' policy was the key factor in the success of the original Celtic Tiger.

I heard Will Hutton on radio saying that we should take a loan from Her Majesty's government, but that it would come with strings attached - namely we would no longer undermine the UK exchequer via corporation tax. Now it looks like other europeans see this opportunity...

Quote:
Belgian Finance Minister Didier Reynders, chairing Brussels talks with all 27 European Union governments, said a cash injection was practically unavoidable.

"I don't believe we will be able to get out of this situation without European aid," he told Belgian radio after a bottomless banking bailout pushed Ireland's public deficit beyond 30 percent of output this year.

After stringent demands were placed on Greece during a 110-billion-euro (148-billion-dollar) bailout there in the spring, Reynders warned that emergency funds would also be "conditional on a whole series of demands."

Analyst Jean Pisani-Ferry, of the Bruegel think-tank in Brussels, said these could go much deeper than budgetary corrections.

"It could bring back the old chestnut about Ireland's fiscal policies ... an excellent opportunity for some to demand a realignment of (corporate) tax policies," which lay behind its emergence over the previous decade as a so-called "Celtic Tiger."
http://economictimes.indiatimes.com/markets/global-markets/Europe-hurtles-towards-Irish-bank-rescue/articleshow/6943418.cms



Hopefully the IMF will fight for us on this one :cry:


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 6:13 pm 
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F*** Off Europe and take yer Eurosong contest with ya!

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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 6:14 pm 
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bilbot79 wrote:
F*** Off Europe and take yer Eurosong contest with ya!



It gonna go. It was gonna go since lisbon 2.


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 7:04 pm 
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I think we might be able to negotiate a promise to adjust at a future point. If the foreign politicians are looking for something to sell to their electorates, a promise might suffice.

There's something odd about the British coming out with a pre-approved 6 billion. How did they come up with this amount? I think it would be better to politely decline this kind offer.


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 7:18 pm 
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I think we'll keep 12.5%. A number of eastern European countries have low corpo tax too.

What will probably go is transfer pricing, which is actually and genuinely stealing tax income from other countries.

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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 7:20 pm 
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CaveCanem wrote:
I think we might be able to negotiate a promise to adjust at a future point. If the foreign politicians are looking for something to sell to their electorates, a promise might suffice.

There's something odd about the British coming out with a pre-approved 6 billion. How did they come up with this amount? I think it would be better to politely decline this kind offer.


+1


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 7:26 pm 
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gaius wrote:
I think we'll keep 12.5%. A number of eastern European countries have low corpo tax too.

What will probably go is transfer pricing, which is actually and genuinely stealing tax income from other countries.


Probably correct. They'll bump up the rate to the next lowest rate as a fig leaf but all the transfer and brass plate operations that dont directly benefit EU area banks, insurance and pension funds will be squeezed out. The EU high yield operations will survive but they are the ones that produce the least direct benefit to the wider economy. Almost all net zero operations so no corp tax and only need a small number of people to administer the immense cash flows.


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 7:29 pm 
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CaveCanem wrote:

There's something odd about the British coming out with a pre-approved 6 billion. How did they come up with this amount? I think it would be better to politely decline this kind offer.


I suspect there will be very expensive pro quo for the quid.

Osborne will try his best to end tax poaching by Irl, Inc.


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 7:49 pm 
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So solemn guarantees mean nothing


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Wed Nov 17, 2010 7:53 pm 
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At the offset YES (terms of bailout)

When the dust settles bye bye Low corpo.

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