EU offensive to tax giant tech companies called “equalisation tax” .. presented next week to the 28

robut

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In the comments at end of article:

Incredulus:

"Is this the beginning of the end for the Irish economic model?"

Reply by Mickey Hickey:

"The end of the economic models of many countries. Ireland, Netherlands, Luxembourg, Great Britain unless they exit, Malta, Cyprus and many others with niche scams. It was inevitable and long overdue. There is a just God in heaven."
 


Zapped(CAPITALISMROTS)

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God forbid US tech companies should pay tax.

Sure that would be against nature.
Good to see you back from more trivial threads Comrade:shock2:, one of the few things the husband of the "great disappointment" got right about "Its the economy stupid"....
 

robut

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And this comment at end of article:

Footsteps comment:

The US companies build their strategies around tax arbitrage, often with their base in the most corrupt (sorry, that is you RoI). In future the Tories are planning it will be the UK. It fills me with disgust.

Reply Gerard:

Ireland may find that it needs some support from Germany and France in finding an acceptable border arrangement with Northern Ireland. It's called leverage.
In fact IRELAND and LUXEMBOURG getting a good lashing in the the OP article comments ..
 

RadicalJacobin

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Why is it that everytime the EU proposes anything posters have a meltdown and scream "Irexit now"(stupid title IMV anyway). Do we seriously need to be reminded that as members of the EU we have a vote and the ability to get other countries doing the same thing to work with us. Anyway if this did suddenly cause all these companies to leave (which it never would) where are they going to go? Brexitland where there is no certainty about access to our market at all? Libya, Turkey or Russia perhaps? MNCs are not benevolent Gods in whose presence we must genuflect. Do I want them gone, No but this isn't a cause for economic suicide and a future of British dominance aka Irexit
 

GDPR

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Why is it that everytime the EU proposes anything posters have a meltdown and scream "Irexit now"(stupid title IMV anyway). Do we seriously need to be reminded that as members of the EU we have a vote and the ability to get other countries doing the same thing to work with us. Anyway if this did suddenly cause all these companies to leave (which it never would) where are they going to go? Brexitland where there is no certainty about access to our market at all? Libya, Turkey or Russia perhaps? MNCs are not benevolent Gods in whose presence we must genuflect. Do I want them gone, No but this isn't a cause for economic suicide and a future of British dominance aka Irexit
Does it never occur to them the reason the tech companies are here is to get a cheap foot-hold in the EU?

EIREXIT, my ass.
 

stopdoingstuff

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Veto everything that moves. Even if MNCs should be paying more tax somewhere else,this is a step towards the EU eventually levying direct taxes and becoming the superstate it has always wanted to become. Fk the EU. They have wrecked Southern Europe twice in ten years, they are now wrecking Northern Europe and are using every means necessary to wreck Eastern Europe too. I wish nothing good on these anti-democratic usurpers and wreckers, and I hope every one of them is removed from their illegitimately held offices.
 

robut

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I didnt see a mention of Irexit in this thread yet bar what RadicalJacobin said??
 

GDPR

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Veto everything that moves. Even if MNCs should be paying more tax somewhere else,this is a step towards the EU eventually levying direct taxes and becoming the superstate it has always wanted to become. Fk the EU. They have wrecked Southern Europe twice in ten years, they are now wrecking Northern Europe and are using every means necessary to wreck Eastern Europe too. I wish nothing good on these anti-democratic usurpers and wreckers, and I hope every one of them is removed from their illegitimately held offices.
Yes, but you're mental. :)
 

Voluntary

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Irexit would make no sense in this case as EU would just tax services and goods from outside EU so Ireland would not be left with any advantage.
 

RadicalJacobin

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Does it never occur to them the reason the tech companies are here is to get a cheap foot-hold in the EU?

EIREXIT, my ass.
No Eagle you are so mistaken, these companies are here because they have deemed us worthy of them. I mean all they do is give us great jobs and fill our coffers full of their revenue. It's not that they want an easy foothold into a huge market and power over a state who will generally speaking align with their interests really we swear!! :rolleyes:
 

RadicalJacobin

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I didnt see a mention of Irexit in this thread yet bar what RadicalJacobin said??
Its not an issue specific to this thread but the anti-EU hate always appears eventually. For some reason people seem to think that our allies and partners in Europe have nothing better to do than plot our downfall and the destruction of our precious corpo tax. As if the loons at the wheel of the SS Brititanic have our best interests at heart and we should join them frolicking in the fields of economic death and world irrelevance with Maybot, Johnson and all our Brexit "friends". I think we should wait and see and if it is so damaging to us that we can't stomach a tax on revenue for our MNCs then we should exercise our right as an EU member to block it.
 

Voluntary

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Ireland should not be thinking the ways how to veto or stop this. Ireland should think about how to mitigate the damage and start decoupling the economic prosperity dependence from presence of few large US corporations. This worked for many years, it lifted Ireland off the poverty, but it's time to move forward, use the capital earned to re-invest.
 

GDPR

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Ireland should not be thinking the ways how to veto or stop this. Ireland should think about how to mitigate the damage and start decoupling the economic prosperity dependence from presence of few large US corporations. This worked for many years, it lifted Ireland off the poverty, but it's time to move forward, use the capital earned to re-invest.
Ireland is an Easter Island economy. It will go on building those statues, until there isnt a scrap of green-roots left.
 

brughahaha

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Ireland should not be thinking the ways how to veto or stop this. Ireland should think about how to mitigate the damage and start decoupling the economic prosperity dependence from presence of few large US corporations. This worked for many years, it lifted Ireland off the poverty, but it's time to move forward, use the capital earned to re-invest.
Have you been asleep ? Its all been spent paying off European Bank Gambling debts
Here you go ...enjoy

https://www.irishtimes.com/business/economy/why-do-the-irish-still-owe-more-than-the-greeks-1.3001026
 

gleeful

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France drives EU tax blitz on revenues of US tech giants





So:

1. SHOULD Ireland support this new proposed “equalisation tax” for tech companies?

2. WILL Ireland support this new proposed “equalisation tax” for tech companies?

3. Does this “equalisation tax” pose a problem with this apple tax case Ireland has IF Ireland supports it?

Over to you guys ..

( A tip to read behind FT paywall. - nothing dodgy!

Copy this title into google search - France drives EU tax blitz on revenues of US tech giants - First link that appears, click it, taa daa .. it opens all article )
Any system that tries to calculate some profit sharing scheme across the EU is just going to result in mindnumbing levels of paperwork and bureaucracy - yet the big corporations will have enough lawyers and accountants to work around it anyway.

The only real solution to this isssue is to federalise it. The US charges corporate profit tax at the federal level. So should the EU.
 

Armchair Activist

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Any system that tries to calculate some profit sharing scheme across the EU is just going to result in mindnumbing levels of paperwork and bureaucracy - yet the big corporations will have enough lawyers and accountants to work around it anyway.

The only real solution to this isssue is to federalise it. The US charges corporate profit tax at the federal level. So should the EU.
Global tax standards are required. The bitcoin lads are taking over with a one world digital currency. Then the block chain will be used so no cheating.
 

fat finger

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It makes sense for companies to pay tax in the countries where they operate, even if this could cause problems for our accountancy sector. But here too the EU already has the answer by providing for free movement of labour, which means accountants made unemployed by the changes will be able to apply for work in the countries where the new tax will be creating employment opportunities, as Europeans we need to look at things in the round here
 

gleeful

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Reading the detail of this - its a revenue tax, not a profit tax. This would actually result in a massive, awe inspiring, increase in the Irish tax take.

For example, google books around €25 billion of sales in Ireland (ie. revenue) but because they prefer these earnings to be under the US defacto corporation tax rate of 0% for foreign earnings not repatriated, they construct their cost base to mean that in Ireland their profit was only €400m.

Under the French plan, Google would pay Ireland a revenue tax of €1,250 million - or 25 times their current tax bill.

And as it would be an EU rule, Google et al can't just move to another state. They would stay here. Even if they chose to book more of their sales in other EU states, we'd still make more in tax than we do now.

Maybe we should support this.

Of course there is a much simpler way for the EU to achieve the same result - just de-exempt cross border b2b internet service sales for VAT.
 


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