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All island corporation tax harmony consequences for 26 counties

  • 07-05-2010 3:19pm
    #1
    Bottle_of_Smoke
    Registered Users, Registered Users 2 Posts: 9,770 ✭✭✭


    Was watching the NI leaders debate the other night. Sinn Fein want corporation tax harmonised for the whole island.

    The other parties whilst not going so far as tax harmonisation were in support of reducing corporation tax in NI.

    Their corpo tax is I think about 28%. If this came down to 12% like here it would surely spell disaster for the republic. Border shopping would get worse and many companies may move the other side of the border(also remember minimum wage and salaries generally are a *lot* lower in the North.)

    Please tell me theres something that would still make us attractive to employers.......


Comments

  • #2
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    Bottle_of_Smoke wrote: »
    Was watching the NI leaders debate the other night. Sinn Fein want corporation tax harmonised for the whole island.

    The other parties whilst not going so far as tax harmonisation were in support of reducing corporation tax in NI.

    Their corpo tax is I think about 28%. If this came down to 12% like here it would surely spell disaster for the republic. Border shopping would get worse and many companies may move the other side of the border(also remember minimum wage and salaries generally are a *lot* lower in the North.)

    Please tell me theres something that would still make us attractive to employers.......

    at least they are no longer asking to "harmonize" corpo tax to 20%+ or whatever crazy amount they used to want before before :O so that's progress...

    one doesnt need to be an economist to realize what that would do to the country
    It has been misreported that we propose to raise corporation tax rate to 35% and advocate EU tax harmonisation. Neither accusation is true. We have proposed interim rates for the purpose of harmonising corporation tax on the island, involving a small decrease in the Six Counties rate for SMEs from 19% to 17.5% and a sustainable increase (according to the ESRI, CORI and ICTU economists) in the 26 Counties from 12.5% to 17.5%, This proposed rate is still significantly less than the lowest personal income tax band in the 26 Counties.
    source: SF march 2007


    yes if NI tax came down to 12.5% that be bad news for us here in the South, since companies would be able to avail of same low tax AND still be in UK....


  • #3
    Liam Byrne
    Closed Accounts Posts: 18,163 ✭✭✭✭Liam Byrne


    I notice from the quoted part that they still can't bring themselves to call this state by its proper name...... :rolleyes:


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