Tax Exiles

dixiefly

I cannot believe the failure of the minister to address the system in which the super rich can claim non residency here as part of their tax avoidance measures in a budget he claims to be governed by fairness.

A system in which people like Denis O'Brien and JP McxManus among many can avoid tax by conveniently spending time abroad at race meetings, business meetings and holiday homes. I have been out of the country many many times at work but dont have the luxury of a biased tax system that favours the wealthy.

Dfens

Yes, government rubbing salt on the wound.....

is_that_so

This, apparently, is being worked on and there are international repercussions vis a vis tax agreements with other jurisdictions. There may be something in the Finance Bill on it.

dixiefly

is_that_so wrote: »

This, apparently, is being worked on and there are international repercussions vis a vis tax agreements with other jurisdictions. There may be something in the Finance Bill on it.

As far as I am aware, the UK allow no more than 80 days for these people to be in the country before they are regarded to be resident for taxation purposes. USA is even less. So surely the international implications would not be all that significant.

ionix5891

dixiefly wrote: »

As far as I am aware, the UK allow no more than 80 days for these people to be in the country before they are regarded to be resident for taxation purposes. USA is even less. So surely the international implications would not be all that significant.

BUT since we have freedom of movement across EU its hard to prove that you were or werent in a country for any period of time

partyguinness

dixiefly wrote: »

I cannot believe the failure of the minister to address the system in which the super rich can claim non residency here as part of their tax avoidance measures in a budget he claims to be governed by fairness.

A system in which people like Denis O'Brien and JP McxManus among many can avoid tax by conveniently spending time abroad at race meetings, business meetings and holiday homes. I have been out of the country many many times at work but dont have the luxury of a biased tax system that favours the wealthy.

I understand that it is not so simple so rectify...Ireland has a double taxation treaty with most countries going back over 40 years and changes to these treaties would be required.

But..how much money does JP McManus and Denis O'Brien give to charity every year??

Thomand Park was given millions from JP and Denis O'Brien is paying the wages of Giovanni Trappatoni, inter alia.

faceman

McManus and O'Brien arent what Id be concerned with. both of them have employed thousands of people over the years, have contributed a great deal to charity as already mentioned and are thriving entreprenuers. While I think Ireland's tax laws for exiles is over generous, i think we can far better focus things by targetting other individuals and organisations.

Accountability is absence from the public sector and as we all know, appears to have been missing from the banking sector at a senior level for a long time. I would much rather a task force developed to target those issues than chasing the likes of O'Brien or JP. Besides, Id much rather the extra few 100,000's of tax they'd have to pay to get to charity than to the state coffers as it doesnt make that much difference to the nation's books at the end of the day.

Also we need to be encouraging successful entreprenuership, not driving it away.

busman

US Citizens who earn more than $87,600 have to pay US income tax even if they are resident abroad, why can't we do the same?

thebaldsoprano

is_that_so wrote: »

This, apparently, is being worked on and there are international repercussions vis a vis tax agreements with other jurisdictions. There may be something in the Finance Bill on it.

I really hope they do get it sorted, but it's still another example of twisted FF priorities. Why should someone on the minimum wage be paying tax while the super rich exiles wait to see if 'there may be something in the Finance Bill'?

Barracudaincork

Residency is a complex issue and domicile makes it more so. But your all forgetting that measures where brought in in the last budget to combat some of this, they abolished what was known as the "Cinderella" rule, which used to mean being in Ireland after midnight counted as a day. The new rule is that any time spent in Ireland at all for any part of the day counts as a day towards the 183 day rule. This means no one can fly in and out of Ireland for the races and it not count as a day.

People are also "Bono" bashing again, now i dont know his own personal circumstance for sure but he is more than likely resident in Ireland and pays tax on his income here, the company "U2" may be held offshore in Holland, but that does not mean that any of the "5" band members avoid paying tax on their own personal income. What U2 earn and what the band earn are two different things.

is_that_so

dixiefly wrote: »

As far as I am aware, the UK allow no more than 80 days for these people to be in the country before they are regarded to be resident for taxation purposes. USA is even less. So surely the international implications would not be all that significant.

It's more to do with the implications for reciprocal tax laws in other jurisdictions than the days.