Ireland's Corporation Tax

jdooley28

With all the talk about it lately do people think that our low corporation tax rates have given us an unfair advantages over our fellow EU members?

Cookie_Monster

of course it has given us an advantage, but nothing unfair about it. We have so many other disadvantages to overcome, it all evens out in the end.

Every country has it's advantages and dis-advantages, CT is simply one of ours. There is nothing stopping any of the other countries in the EU lowering theirs if they so wish.

Nijmegen

jdooley28 wrote: »

With all the talk about it lately do people think that our low corporation tax rates have given us an unfair advantages over our fellow EU members?

Go talk to the IDA. Great craic. The first thing out of their mouths? Twelve and a half percent.

It's like that episode of family guy when the mother runs for mayor. "Nine Eleven. Nnniinnneee Eeeellleeeevvvvveeennnn."

The next thing they tell you, if you're into things like R&D, is the tax breaks for that.

Thereinafter, they roll in the big accounting firms to meet you and they show you powerpoint presentations about how you can reduce your tax exposure further.

This is in an IDA boardroom in the IDA HQ on the canal with IDA staff present.

So.... Is it an advantage?

We don't do it for nothing and we haven't pissed off half of Europe enough that they're talking with glee about scrapping it for a bailout.

Low corporation tax = jobs. Tax we lose on their profits = tax we gain on jobs that wouldn't otherwise exist.

Scofflaw

There's rather more to it than our tax rate. You may find this interesting. It's from here:

http://www.taxresearch.org.uk/Blog/2010/09/07/ireland-is-a-tax-haven-2/

From the same people:

The simple fact is that the Republic does not just compete on tax rate – it does in effect offer many companies a zero tax base so they pay nothing at all in the Republic. Which is a major reason for their current economic malaise. And unless Northern Ireland want to go the same way they’d be most unwise to follow.

http://www.taxresearch.org.uk/Blog/category/ireland/

Our tax rate has certainly been built up as the mainstay of our economy, but the reason we oppose CCCTB (which wouldn't change our rate) is because the last thing we want - even less than changing our rate - is transparency in how corporations are taxed. What makes us attractive is the availability of tax structures like "Double Irish".

cordially,
Scofflaw

ei.sdraob

Scofflaw wrote: »

What makes us attractive is the availability of tax structures like "Double Irish".

cordially,
Scofflaw

Oh my, after reading that I keep wondering why I don't set-up a subsidiary somewhere warmer and why i continue to pay taxes to a government that pisses it away so easily on policies i don't agree with.
Hmm........