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Cameron and Merkel want more taxes from multinationals


asknoquestions

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According to the Guardian, despite their disagreements on the EU budget, both agree that multinationals are not paying enough tax and they will be raising this issue at the G20.

UK and Germany agree tax crackdown on multinational companies | Business | guardian.co.uk

I guess this makes it look unlikely that Northern Ireland will take control of its corporation tax rate, it also doesn't necessarily look good for Ireland's multinational exporting sector.
 

TheMushyStuff

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According to the Guardian, despite their disagreements on the EU budget, both agree that multinationals are not paying enough tax and they will be raising this issue at the G20.

UK and Germany agree tax crackdown on multinational companies | Business | guardian.co.uk

I guess this makes it look unlikely that Northern Ireland will take control of its corporation tax rate, it also doesn't necessarily look good for Ireland's multinational exporting sector.
Well TBH with you they haven't been being paying that much tax. We should crackdown on them also.
 

Clanrickard

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odlum

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Let them punish multinationals in their own countries. More power to us.
 

Aindriu

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Do you know how many people Google employs in Ireland and how many other jobs they sustain?
Irrelevant as the tax from those workers is a drop in the ocean compared to the tax that Google is NOT paying.
 

Tin Foil Hat

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Irrelevant as the tax from those workers is a drop in the ocean compared to the tax that Google is NOT paying.
Would you prefer they NOT pay it somewhere else?

The politician who gives even an inch on Ireland's right to choose its own corporation tax should be waterboarded. It about the only thing we have going for us.
 

odlum

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So any company that employs people should be allowed to pay zero tax in Ireland?
Firstly get your facts straight - they are not paying zero tax in Ireland for a start.

Secondly use your head. This is a windswept pimple on the back arse of Europe. How much tax do you think multinationals, that are the only good thing about this economy, should be paying? There is a very fine line between them being here employing 100,000 in well paid jobs and a couple 100,000 more by proxy and them not being here. They are not here for the grey sky or the scenery.
 

Howya

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Do you know how much tax Google pays in Ireland?

More fool us.
How much tax do all of Google Irish employees pay? Can't just look at one element, need to look at the whole picture.
 

Trainwreck

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Firstly get your facts straight - they are not paying zero tax in Ireland for a start.
You are admonishing moi for failing to "get facts straight"?

DESPITE reporting turnover of more than €10bn, Google's Irish operation paid just over €5.6m in corporation tax last year, new accounts show.

Google paid only €5.6m tax despite €10bn turnover - Irish, Business - Independent.ie

Secondly use your head. This is a windswept pimple on the back arse of Europe. How much tax do you think multinationals, that are the only good thing about this economy, should be paying? There is a very fine line between them being here employing 100,000 in well paid jobs and a couple 100,000 more by proxy and them not being here. They are not here for the grey sky or the scenery.
No, they are here for the tax shelter. So they can turn $10 billion of revenue into a $5.6 million tax liability and pass the massive saving to shareholders.


Given that is the fact - the indisputable fact - you can't really apply moral outrage as a defence when Angela, Francois and David decide they want to put a stop to the practice because it has a material effect on their tax system.
 

sport02

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According to the Guardian, despite their disagreements on the EU budget, both agree that multinationals are not paying enough tax and they will be raising this issue at the G20.

UK and Germany agree tax crackdown on multinational companies | Business | guardian.co.uk

I guess this makes it look unlikely that Northern Ireland will take control of its corporation tax rate, it also doesn't necessarily look good for Ireland's multinational exporting sector.
Apple paid just 1.9% tax on overseas profits, it was reported on Sunday.
 

dancl2000

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According to the Guardian, despite their disagreements on the EU budget, both agree that multinationals are not paying enough tax and they will be raising this issue at the G20.

UK and Germany agree tax crackdown on multinational companies | Business | guardian.co.uk

I guess this makes it look unlikely that Northern Ireland will take control of its corporation tax rate, it also doesn't necessarily look good for Ireland's multinational exporting sector.
there is a bit of a race for the bottom in corporation tax between us, lux, holland.. even france has some pretty concessionary rates if you know how to get them (I'm told). in the end nobody will win except the corporations

what do we really get out of our low corporation tax rate ? concretely in terms of jobs, google & apple employ big numbers here, but the sums filtered through their irish operations are way beyond what sales and personnel in ireland can justify. if corpo tax rates are increased it's less burden on individuals. plus our skilled labour force has its own benefits, these companies wont leave because it's not that easy for them to find good people

and to be honest i'd say it's just a matter of time before other countries instigate some way of taxing profits in the tax jurisdiction where made, this has been in the air for a while. so whether we give up the tax rate or not sooner or later it's relevence will diminish
 

Trainwreck

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I have no problem with Google using us as a tax shelter and employing people here. But I am not naive and realise some of the following:



This is not a tenable policy as it grows. It represents part of our economy that doesn't get taxed and as it grows larger it means more of the burden falls on a narrower tax base.

Secondly, the extent to which it allows tax to be avoided in other European countries it is going to bite us in the bum politically. Don't get all indignant about that, especially when you do an about face and demand that our EU agriculture payments and such like not be cut.



As Gabriel Byrne observed, to the outside world we look like gombeens on the make all too often.
 
G

Gimpanzee

This is not a tenable policy as it grows. It represents part of our economy that doesn't get taxed and as it grows larger it means more of the burden falls on a narrower tax base.
Not really. There is no extra 'burden' as it grows. It is only funny numbers. You could say it is weightless.

Secondly, the extent to which it allows tax to be avoided in other European countries it is going to bite us in the bum politically. Don't get all indignant about that, especially when you do an about face and demand that our EU agriculture payments and such like not be cut.
This is the big issue. We are taking the piss.
 
D

Dylan2010

I dont see the problem, they pay salaries they pay tax, they pay dividends those people pay tax. They hold the cash in the company means more investment or paying down corporate debt. I'd trust a corpoation to use its profits better than any government will.
 

Aindriu

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odlum

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Exactly and who is to say that there should be any corporation tax in any case? It's just another invented tax disguised as some moral barometer. They employ so many people here I don't care whether they pay corporation tax or not and neither do all those employed i'd imagine.
 
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