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Ethics of our Corporation Tax

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    #92
    Geuze
    Registered Users Posts: 13,066 ✭✭✭✭Geuze


    Gbear wrote: »
    What would be the issue with simply abolishing it completely?

    If, as we've seen, a mega-corporation can just sidestep it anyway, while smaller companies, like OscarBravo's, don't have the resources to do so, the tax is already effectively regressive.

    If the income of the company that would otherwise be taxable is attempted to be expatriated, then perhaps it could be taxed, but otherwise, what benefit is there in taxing money that will otherwise be taxed through income, capital gains, PRSI, or whatever the company spends it on?

    At a minimum, is it not needless complexity added to taxation that could be acheived through other means?

    Even if we were to get to the stage where 90% of current jobs were automated and few employees were around to earn taxable income, the massive profit margin would still ultimately end up as taxable income, whether it was in purchasing more plant or property, issued as dividends, DIRT, capital gains or whatever.

    Some tax theories in economics suggest that the optimal rate of capital/corporate taxation is 0%.


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    #93
    Eric Cartman
    Registered Users Posts: 26,283 ✭✭✭✭Eric Cartman


    Schnitzler Hiyori Geta wrote: »
    Could work if you forced these big companies to fund infrastructure projects and/or base themselves in secondary locations.

    Livingin Leixlip, Ive seen first hand what intel and HP have paid for volountarily , its not the ‘ evil corporation’ mantra many on the left preach


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    #94
    Cookie_Monster
    Registered Users Posts: 24,469 ✭✭✭✭Cookie_Monster


    Gbear wrote: »
    What would be the issue with simply abolishing it completely?

    being black listed as a tax haven, there is no way the EU nations would allow it.


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    #95
    paul71
    Registered Users Posts: 3,108 ✭✭✭paul71


    Geuze wrote: »
    Some tax theories in economics suggest that the optimal rate of capital/corporate taxation is 0%.

    I was once of that opinion however the issue is one of ultimate ownership. I believed that you allow the corporation to earn tax free income but tax the distribution of profit so the person who is taxed is the one in the receipt of the dividend.

    However the advent of the international corporation or more to the point the prevalence of international corporations in our tax jurisdiction makes a mockery of that.


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