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Ireland's reliance on Corporation Tax receipts

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Comments

  • Registered Users, Registered Users 2 Posts: 6,409 ✭✭✭emo72


    I'm drunk. It's Saturday night. It's blatantly obvious, the fact that we act the bollix with MNCs to give us a ton of tax instead of being a country that builds and creates something of value that the rest of the world wants. We are fecked lads



  • Moderators, Sports Moderators Posts: 29,690 Mod ✭✭✭✭Podge_irl


    Well they're under patent mostly. To US companies in many cases but you need to incentivize them to move production to the US and tariffs that will be removed as soon as Trump is gone ain't gonna do that.



  • Registered Users, Registered Users 2 Posts: 2,290 ✭✭✭ZeroThreat


    well tbh I was thinking with the possible level of lawlessness and disdain for the rule of law in the incoming authoritarian administration, US may start ignoring patents and IP in the same vein as China, and just do 'whatever the hell they want' (in the words of the great orange one) 😉



  • Registered Users, Registered Users 2 Posts: 4,635 ✭✭✭maninasia


    He would have to do it with ALL pharma products in that category from the EU not just Ireland. Which would result in a trade war.

    These things are complicated , Ireland can't be singled out individually.



  • Registered Users, Registered Users 2 Posts: 4,355 ✭✭✭joseywhales


    There are thousands of highly skilled Irish workers , some are highly trained globally elite employees. As a result of decades of government policy and Irish culture of education and work ethic. It's not just acting the bollix with mncs



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  • Registered Users, Registered Users 2 Posts: 880 ✭✭✭creeper1


    I saw this video with a theme of profligate spending from the Irish government.

    I feel it is related to this thread simply because the income afforded by multinationals is essentially a blank cheque for this out of control spending.

    Warning this guy butchers the Irish language.

    https://youtu.be/ydn9T0kQdrc?si=4wtqH-sutXdyv34_



  • Registered Users, Registered Users 2 Posts: 880 ✭✭✭creeper1


    Okay. So the Israelis are out and their embassador is gone.

    So is that memo or email on its way to the states?

    Or was it just bluster from her that inward investment would halt with worsening relations with Israel.

    We shall see.

    We shall see.



  • Registered Users, Registered Users 2 Posts: 25,246 ✭✭✭✭Kermit.de.frog


    https://www.theguardian.com/us-news/live/2025/feb/13/rfk-lutnick-trump-musk-putin-ukraine-us-politics-live-news

    Trump’s economic advisers told reporters today, after Trump’s announcement, that they will be coming up with new numbers country by country.

    Howard Lutnick, Trump’s nominee for commerce secretary, said the administration will finish crunching the numbers by 1 April, according to the Reuters.

    The president said his priorities are the most “egregious” examples of unfairness in trade, including countries that have big trade surpluses and high tariff rates.

    Brace yourselves - April 1st is not going to be pretty viewing for us. Ireland is most exposed in Europe on trade but also tax.

    Government needs to be planning for loss of income and jobs.



  • Registered Users, Registered Users 2 Posts: 13,039 ✭✭✭✭Frank Bullitt


    More scaremongering, this kinda get tiring.

    As it has been pointed out, the tariffs will be paid by American importers, it will take huge investments and time to even try to set up supply in America, so it won’t be leaving Ireland anytime soon, if at all.

    It legitimately seems like you want all these bad things to happen to Ireland, all the time.



  • Registered Users, Registered Users 2 Posts: 25,246 ✭✭✭✭Kermit.de.frog


    The tariffs are not the main problem for Ireland. The tax code will be changed in the US particularly for IP and to counter the type of off-shoring that has given Ireland it's wealth in recent years - that is the problem. It's about to end. The most immediate impact won't be jobs but the collapse in corporate tax receipts. The (high value) job losses will follow.



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  • Registered Users, Registered Users 2 Posts: 13,039 ✭✭✭✭Frank Bullitt


    Preaching the end of the world without a bible mate, as always.

    There won’t be any collapse, just like the EU didn’t hang Ireland out to dry like you said it would during Brexit.

    It more reads like you want this to happen, and don’t really have anything at all to back it up.



  • Registered Users, Registered Users 2 Posts: 229 ✭✭Repo101


    No evidence of that so far. Let's see what happens when we get actual legislation in the US before resorting to hyperbole. What Trump says and does are two different things. I suspect this will more be targeting the likes of France, India and Brazil who tax US companies via withholding taxes or their own digital services tax.



  • Registered Users, Registered Users 2 Posts: 25,246 ✭✭✭✭Kermit.de.frog


    Ireland had it's chance. We could have built world class infrastructure and done the basics right to improve competiveness. We didn't. This year the gravy train is over, the country will probably enter recession within the next 2 years and austerity and a lot of jobs will be lost over the coming years.

    Don't blame the messenger. This was the done deal once Trump was elected. Our government bet the house on the Democorats unfortunately.

    So, now that we know it's over, what can we do about that? Not a lot. We have to accept that we will be a significantly poorer country going forward with increasing social problems (which we failed to address when times were good).

    I don't see it turning out any differently than that sadly.

    I take no joy in pointing out the obvious which you seem to be implying. I'm stating the objective reality of our situation.

    It's grim.



  • Registered Users, Registered Users 2 Posts: 5,231 ✭✭✭BlueSkyDreams


    Yet that is exactly what he is going to do; target tariffs by country.



  • Registered Users, Registered Users 2 Posts: 13,039 ✭✭✭✭Frank Bullitt


    You have literally nothing to back any of this up. You say it is grim, that is because you think it is, it is purely subjective.

    Ireland does have world class infrastructure, by nearly every modern metric Ireland is a very successful country in its own right. You saying otherwise doesn’t change that, it just makes your argument sound bitter.

    Our gov didn’t bet anything on the election, nothing. This is conjecture.

    All this doom and gloom just comes across as you wanting it to happen, you’ve provided nothing at all as evidence, nothing.

    You are stating nothing objective, this is all subjective, and based on little to no evidence.



  • Registered Users, Registered Users 2 Posts: 25,246 ✭✭✭✭Kermit.de.frog


    See here. Germany and Ireland are the biggest by far contributors to the EU surplus with America. Does anyone think for one second we are getting through this relatively unscathed? The Trump administration is crystal clear, they say it every day, they want Pharma manufacturing back in the US. Their actions will be beyond just tariffs. We export more Pharma to the US in value than Germany does cars ffs.

    Untitled Image

    And think of our EU neighbours looking at that chart.

    Are they going to take sanctions for us?….or will they attack us too. I think it is the latter. They are not standing up for Ireland in this.



  • Registered Users, Registered Users 2 Posts: 13,039 ✭✭✭✭Frank Bullitt


    Your argument doesn’t come across as informed on this one bit, I’m sorry to say.

    For a start, it would take years and billions to shift pharma production to America, probably closer to a decade really with the sheer volume of work needed.

    Trump says a lot of things, if you are believing him well I hate to break it to you, he lies, a lot. On top of that, saying they will bring XYZ industry back to America but not saying how…smoke and mirrors my friend. There is no plan at all for this, just words. Look at who is in charge of the Health Department now, and you think big countries will be rushing back state side? C’mon now.

    We don’t have EU neighbours, we are the EU. And yes, if Trump puts Tariffs on Ireland, it can apply to the EU due to the customs union we are all in. You said that the EU would throw Ireland out with the bath water during Brexit, you were very heavily wrong on that. You are equally as wrong here too.



  • Registered Users, Registered Users 2 Posts: 18,568 ✭✭✭✭Idbatterim


    You can't blame the US... we literally thieve tens of billions from them as a tax haven. Freeload on our defence commitments... there were articles on the new York Times recently, bringing up our opw bike shed , how we spend nothing on defence... and the line from a senior us economic advisor was, " that ireland of all places" was benefitted from this obscene scenario...



  • Registered Users, Registered Users 2 Posts: 25,246 ✭✭✭✭Kermit.de.frog


    So you think the EU is going to rally behind tax debasing little Ireland with it's unique budget surpluses and take a hit for us?

    Really?

    You think Germany or France will take tariffs for us?

    Utterly delusional. We will be pressured by them to sort it. That's the way it is. We are on the wrong side of the US and the EU on this.

    We represent almost half the EU's surplus with the US. This is nonsense. They all know it's nonsense. Lutnik knows it's nonsense and as he said he will end it. And he will.

    On April 1st you'll see just how much trouble this country is in with this US administration.



  • Registered Users, Registered Users 2 Posts: 18,568 ✭✭✭✭Idbatterim


    Irelands infrastructure is a disgrace, given the wealth we have had for decades. The recent spending, massive budget giveaways, are reckless... this is widely acknowledged in the media etc. Breaking their own spending rules... our legacy of another celtoc tiger 2 in terms od tax take, won't be great infrastructure and a huge housing programme. It will be the outrageous waste... the Children's hospital, outrageously expensive bikesheds and walls ...



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  • Registered Users, Registered Users 2 Posts: 13,039 ✭✭✭✭Frank Bullitt


    First, Ireland is the EU, it is not Ireland and the EU. This is probably where your argument is leading you astray in that you are thinking we jockyback on the EU somehow. We don’t, we are an equal member, this was shown very clearly during Brexit (when you said the EU would dump Ireland for the UK, remember?).

    Germany and France are not exactly on great terms with the US seeing as Trump is threatening the EU as a whole, so yes, I think they will be quite happy to support Ireland, as they have done. Being an equal members brings benefits.

    If anyone is delusional it might be you, my friend. You are providing a very subjective view point, no evidence other than this subservient idea that Ireland will be thrown to the wolves by other EU member states.

    You’ve not a shred of evidence to back your position up, just admit that much. You seem to have this hatred for Ireland, and want them to be walked over. It is truly bizarre.



  • Registered Users, Registered Users 2 Posts: 13,039 ✭✭✭✭Frank Bullitt


    Irelands infrastructure is not a disgrace, there are issues but if you look across the water at the UK, you will see what a disgrace is.

    You are just another poster hoping and praying for some sort of pain inflicted on Ireland. I just don’t get it.



  • Registered Users, Registered Users 2 Posts: 19,263 ✭✭✭✭kippy


    One would wonder why its going to take another "couple of months" to review and come up with a tarrif plan for states that run massive trade deficits with the US when the data is very obviously freely available and the relevant people have known for at least two months now that they would be in roles to make those decisions. If you look at the raft of exec orders signed in the past few weeks, you'd know that at least some research had been done into these things. Some sweeping changes have happened in the US already so not sure why the significant delay on these specific ones…….leaving room for some form of negotiation or perhaps a chance for the organisations involved to make their case/present plans to the US on repatriation of jobs and/or cash…………



  • Registered Users, Registered Users 2 Posts: 6,427 ✭✭✭Wolf359f


    You literally can blame the US, or more specifically Trump. It was his 2017 tax cuts and jobs act that incentived US companies to shift production overseas to benefit from a lower corporation tax when reshoring profits.



  • Registered Users, Registered Users 2 Posts: 678 ✭✭✭engineerws


    Ireland is the EU

    News to me.

    Mod - warned for trolling, it's obvious what the quoted post meant

    Post edited by Leg End Reject on


  • Registered Users, Registered Users 2 Posts: 13,039 ✭✭✭✭Frank Bullitt




  • Registered Users, Registered Users 2 Posts: 128 ✭✭DaSchmo


    Trump's treasury secretary Scott Bessent leaving the message "America First" in the shannon airport guest book yesterday seems a bit ominous, no?

    https://www.aol.com/treasury-sec-scott-bessent-leaves-210614802.html



  • Registered Users, Registered Users 2 Posts: 13,039 ✭✭✭✭Frank Bullitt




  • Registered Users, Registered Users 2 Posts: 25,246 ✭✭✭✭Kermit.de.frog


    The government needs to prepare for a dramatic fall in state income.

    The government also needs to prepare for a joblessness crisis.

    Which of those do you not understand?



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  • Registered Users, Registered Users 2 Posts: 17,444 ✭✭✭✭astrofool


    That the boy is crying wolf for the umpteenth time over many years?

    If there are issues it will be EU one and all.

    You were spectacularly wrong on Brexit every time, there's no evidence that it will be different with the US than it was with the UK.



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