2021 Irish Property Market chat - *mod warnings post 1*

fliball123 wrote: »

and Germany , U.K, France and the U.S are all in the top 25 . Whats your point?

Geuze wrote: »

We are not a tax haven.

What Makes a Country a Tax Haven?


https://igees.gov.ie/wp-content/uploads/2014/02/What-makes-a-country-a-tax-haven.pdf

Abstract: This paper explores the issue of tax havens and tax competition. The recent intensified debate on tax havens is summarised, as is the important work of the OECD, the EU and the G-20 in this area and the ongoing research on the economic effects of tax havens.

Ireland does not meet any of the OECD criteria for being a tax haven but because of its 12.5 per cent corporation tax rate and the open nature of the Irish economy, Ireland has on a few occasions been labelled a tax haven.

There are three primary reasons for this identified, each addressed in the paper: a failure to distinguish between legitimate and abusive transfer pricing; a misunderstanding of the role and regulation of IFSC; and a dated but influential academic paper from 1994 that incorrectly
included Ireland in a list of tax havens, based on a reason that has long since lost any validity.

Ireland has been labelled a tax haven, or a corporate tax haven (or Conduit OFC), by:

The main § Leaders in tax haven research:[38][39] James R. Hines Jr. (1994, 2007, 2010),[31][40][41] Dhammika Dharmapala (2008 and 2009),[42][43] and Gabriel Zucman (2013, 2014 and 2018);[4][32][34][44][45]
Other important § Leaders in tax haven research:[38][39] Joel Slemrod (2006),[46] and Mihir A. Desai (2006);[47]
Notable academic studies by the University of Amsterdam's CORPNET in 2017 (Conduit and Sink OFCs)[27][28] and by the International Monetary Fund journal in 2018;[48]
Various academic tax-policy centres in Germany,[49] the United Kingdom,[50] the United Nations,[51] and Ireland itself;[52]
The three main non-governmental tax organisations: Tax Justice Network,[33][53][54] the Institute on Taxation and Economic Policy,[55][56] and Oxfam;[57][58]
The two U.S. Congressional investigations into global tax havens: 2008 by the Government Accountability Office,[59] and 2015 by the Congressional Research Service.[60]
The 2013 Levin–McCain U.S. Senate Permanent Subcommittee on Investigation ("PSI") into tax avoidance activities of U.S. multinationals by using "profit shifting" BEPS tools;[61][62][63]
The books on tax havens in the last decade, with at least 300 citations on Google Scholar: Tax Havens: How Globalization Really Works, by Ronen Palan and Richard Murphy from 2010,[36] Treasure Islands: Tax Havens and the Men Who Stole the World, by Nicholas Shaxson from 2011, and The Hidden Wealth of Nations: The Scourge of Tax Havens, by Gabriel Zucman from 2015;
The main financial media: New York Times,[64] Bloomberg News,[65] the Wall Street Journal,[66] Forbes,[67] the Financial Times,[68] The Economist,[69] the Washington Post,[70] and Fortune;[71]
Some leading economists;[72][73][74][75][76]
G20 economy, Brazil, who blacklisted Ireland in September 2016;[12][77] and potentially the U.S. State of Oregon whose State IRS recommended blacklisting Ireland in 2017.[78]
The European Parliament in March 2019 voted to accept a report by 505 votes in favour to 63 against, recommending Ireland, as one several "EU tax havens", be included on the official EU Commission list of tax havens.[o][80][81][82]
Ireland has also been labelled related terms to being a tax haven:

In Germany, the related term tax dumping has been used against Ireland by German political leaders;[83][84]
The Financial Stability Forum ("FSF") and the International Monetary Fund ("IMF") listed Ireland as an offshore financial centre in June 2000;[33][34][35][36]
Bloomberg, in an article on PwC Ireland's managing partner Feargal O'Rourke, used the term tax avoidance hub;[85]
The 2013 U.S Senate PSI Levin–McCain investigation into U.S. multinational tax activity, called Ireland the holy grail of tax avoidance;[86][87]
As the OECD has never listed any of its 35 members as tax havens, Ireland, Luxembourg, the Netherlands and Switzerland are called OECD tax havens;[88]
As the EU Commission has never formally listed any of its 28 members as tax havens, Ireland, Luxembourg, the Netherlands and Belgium are called EU tax havens.[89][90]
The term tax haven has been used by the Irish mainstream media and leading Irish commentators.[91][92][93][94][70][95] Irish elected TDs have asked the question: "Is Ireland a tax haven?".[96][97] A search of Dáil Éireann debates lists 871 references to the term.[98] Some established Irish political parties accuse the Irish State of tax haven activities.[99][100][101]

The international community at this point is concerned about the nature of tax havens, and Ireland in particular is viewed with a considerable amount of suspicion in the international community for doing what is considered - at the very least - on the boundaries of acceptable practices.

— Ashoka Mody, Ex-IMF mission chief to Ireland, "Former IMF official warns Ireland to prepare for end to tax regime", 21 June 2018.[102]

Hubertj wrote: »

https://www.irishexaminer.com/property/commercial/arid-40240229.html

Good news for commercial property but also the jobs front in the cork region. Further demonstrates apples commitment to Irish operations. Also strange they would continue to invest and expand Irish operations when a tax apocalypse is due to hit Ireland. Could it be they have already factored tax changes into their plans? Would large MNCs with dedicated tax teams have the forethought to factor this into their future plans? Amazing thought. I fear they haven’t checked board.ie and are making a terrible terrible mistake.