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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Thu Sep 01, 2016 11:27 am 
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Too Big to Fail

Joined: Feb 21, 2008
Posts: 4425
Mantissa wrote:
jmc wrote:
Lets see who was in power in 1991..

Oh, it was Charles Haughey. Enough said?

And we had three Finance ministers in 1991:

- Albert Reynolds
- Charlie Haughty (acting)
- Bertie Ahern

And then when it was renewed in 2007:

- Brian Cowan

Yep, enough said!


Is that four of a kind or a royal flush?


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Thu Sep 01, 2016 11:29 am 
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Under CAB Investigation

Joined: Nov 26, 2008
Posts: 1507
Mantissa wrote:
jmc wrote:
Lets see who was in power in 1991..

Oh, it was Charles Haughey. Enough said?

And we had three Finance ministers in 1991:

- Albert Reynolds
- Charlie Haughty (acting)
- Bertie Ahern

And then when it was renewed in 2007:

- Brian Cowan

Yep, enough said!


I was wondering why FF were being abnormally quiet on this!

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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Thu Sep 01, 2016 1:35 pm 
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IMF'd

Joined: Sep 13, 2007
Posts: 31887
Location: Tullamore
Mantissa wrote:
yoganmahew wrote:
Mantissa wrote:
Renting And Proud! wrote:
Another simpleton question

Noonan & FG are repeating that Apple did not get a special deal

Does the EU ruling completely contradict this is (i.e. they're lying) or are they deliberately using semantics to avoid it technically being a lie?


It is a lie at every level. Revenue agreed to calculate their tax based on their expenses rather than their profits. This is unheard of as far as I know.

Well, no, that's not the way I understand it - I think there are two elements - the stateless corporation (Apple not HQ'd in Ireland, so profits outside Ireland are not taxed in Ireland, but in country of HQ. That there was no HQ, not Ireland's business - that appears to be the main source of Ireland's defence). Second - the whole "what's a profit anyway" thing - this is a much wider issue and is at the heart of the headquartering in Ireland, I think this is what the EU are really after and where the Revenue are on ropey ground.

But I haven't been paying that much attention; my yellow-pack MNC job is keeping me busy :|


Prepare to be amazed:

Quote:
In 1991, a basis for determining Apple Computer Ltd.’s (subsequently AOE’s) Irish branch net profit was proposed by Apple and agreed by Irish Revenue. According to that ruling, the net profit attributable to the AOE branch would be calculated as 65% of operating expenses up to an annual amount of USD [60- 70] million and 20% of operating expenses in excess of USD [60-70] million. This was subject to the proviso that if the overall profit from the Irish operations was less than the figure resulting from this formula, that lower figure would be used for determining net profits.


Quite unprecedented AFAIK.

Wow :shock:

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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Thu Sep 01, 2016 3:06 pm 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6046
Location: SthDub
The Irish Times, as predicted!

John McManus: Why we have no right to spend Apple’s €13bn
The money does not belong to us and we should give it back to its owners
http://www.irishtimes.com/opinion/john- ... -1.2774603


Editorial:
EU decision on Apple: Are we defending the indefensible?
In the absence of standardisation of rates or tax bases, the state aids inquiry is a clumsy, blunt mechanism
http://www.irishtimes.com/opinion/edito ... -1.2774625


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Thu Sep 01, 2016 6:33 pm 
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Under CAB Investigation

Joined: Dec 2, 2013
Posts: 2736
I watched Six One there.
The EU commissioner was a bit disingenuous saying that a company without staff or operations can't have Revenue. She knows full well that patent company's exist.

Richard Bruton was very very weak when giving his view 'EC can't act as judge jury executioner'. I'd hate to see him up against her in any intellectual battle.

We urgently need someone outside the echo chamber to independently review what Revenue, MNC and the Big 4 have been up to.

Has the simple word 'Fraud' been used yet ?
Ireland is like a Liberian registered oil tanker. Getting approval from our government and revenue has precisely f**k all moral weight.

Brian Hayes is furiously back peddling now saying 'these are legacy issues' 'Noonan changed the rules'


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Fri Sep 02, 2016 1:00 am 
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Nationalised

Joined: Nov 6, 2006
Posts: 9011
Location: Hollywood
There is probably a ton highly experience people in EU trading law located in London who could be used after the Brexit


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Fri Sep 02, 2016 1:12 pm 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6046
Location: SthDub
From today's IT:

Quote:
Sir, – On one or two occasions over the last 40 years of paying tax, I received small refunds due to overpayment. I never appealed this to the Revenue. It wouldn’t have felt right. – Yours, etc,
GEOFF SCARGILL,
Bray, Co Wicklow.


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Fri Sep 02, 2016 6:34 pm 
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Real Estate Developer

Joined: Nov 20, 2014
Posts: 994
FreeFallin wrote:
The money does not belong to us and we should give it back to its owners


Well if no one wants the money i would be happy with 0.05% of it :lol:


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Sat Sep 03, 2016 7:47 am 
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Under CAB Investigation

Joined: May 12, 2012
Posts: 2173
There is an assumption here of some big political-administrative-corporate nexus here.

It is not how it works.

The government sets tax policy, and leaves it to Revenue to implement it.

No one can give Revenue a call (not the Minister, not the head of the IDA) and be told how much any firm pays in tax.

This is not how it works in many countries, but Ireland but taxpayer confidentiality is taken incredibly seriously at all levels in Revenue.


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 Post subject: Re: Will Ireland's corporation tax survive?
PostPosted: Sat Sep 03, 2016 7:57 am 
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Joined: Jun 9, 2008
Posts: 7098
If you really think that is how things work here, you are being naive.

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