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

Barroso

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Most definitely not do we want to drive all these companies away because thats what it will be essentially doing.
Where do you think they would go to?
They want to have a presence in the EU.
American companies like the ultra-liberal model that the Brits have and that we slavishly follow.
They also like that they can do business here in English, as they are not great linguists.
Their lawyers can read our laws in the original, and propose new laws that favour them that will lose nothing in translation. We have little or no competing domestic industry which would be undermined by special deals given to US companies, so Ireland is and will remain a perfect platform for them.

There are probably other benefits to them arising from them being based here. Of course, low tax is the main one, but even without low tax, they will stay as they have sufficient muscle in terms of their very significant presence which allows them to lobby the government directly in the case of big companies and indirectly via representative organisations for those with a smaller presence.
 


Patslatt1

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Dr Goebbels set this all out admirably what Germany's long term strategic ambition was going to be:

When England falls, we will have the chance to reorganize Europe in a way that befits the social, economic, and technical possibilities of the twentieth century

I am convinced that, just as we look back with some amusement on the narrow-minded conflicts between German provinces in the 1840’s and 1850’s, our posterity in fifty years will look back with similar amusement on what is going on today in Europe. They will see the “dramatic battles between nations” of small European states as family squabbles. I am convinced that in fifty years we will no longer think in terms of nations, but of continents, and that entirely different, and perhaps much larger, problems will concern Europe.

Do not think that, as we bring about a certain order in Europe, we do it to harm individual nations. The freedom of individual countries must be brought in harmony with the conditions of the present and with simple questions of practicality. Just as a member of a family does not have the right to disturb everyone else’s peace, an individual nation does not have the right to resist the larger order.

Goebbels Speaks to the Czechs
DIVERSITY OF EUROPE
Nasim Taleb, author of Black Swans and a very original thinker, thinks Europe should treasure its diversity which he sees as a great strength. A federal EU would tend to undermine that diversity and presumably the capacity for originality in cultures.
 

Patslatt1

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Bring it on. We have to become able to compete on bases other than a low tax rate. - Which is a race to the bottom anyway, and only pits us against new and emerging economies in this race to the bottom.

We learnt a lot from the MNCs that our low CT rate attracted, in terms of working effectively and efficiently and safely etc. But, imho, it's time to move on now, and do it for ourselves, find our own strengths and talents and abilities and stand on our own feet.

Let's clear away the political and social and cultural deadweight holding us back. Banish the peasant mindset forever.

At the end of the day the slieveen approach of giving these companies these kind of incentives, and to hell with the rest of our European neighbours is contemptible.
ENTREPRENEURIAL IRELAND
Wait till we have evidence of cures for an Irish tendency to begrudgery, excessive 50% taxation on modest incomes and the habit of throwing money at a dysfunctional public sector in health care, policing and local government. Then an economy of entrepreneurial businesses could thrive and free us of dependence on multinationals. Could be a very long wait!
 

The Field Marshal

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https://www.euractiv.com/section/economy-jobs/news/eu-agrees-to-draft-proposal-to-raise-taxes-on-internet-giants/

A majority of member states have agreed to start preparing a new levy on digital companies to compensate for low-tax regimes that have cost European governments billions of euros.
What happens to non Irish European govts is not our concern.
Our concerns are what happen to us.

Ireland must exploit ruthlessly every fiscal device possible to extract maximum leverage on our corporation and other taxes.

The govt should now reduce Ireland's corporate tax by a further 3 % .

Europe and its euro currency must be made know tow to Irelands interests always.

Unless a firm hand is taken on this matter then the Frankfurt euro dog will always be wagging the Irish tail.
 

ionsniffer

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What happens to non Irish European govts is not our concern.
Our concerns are what happen to us.

Ireland must exploit ruthlessly every fiscal device possible to extract maximum leverage on our corporation and other taxes.

The govt should now reduce Ireland's corporate tax by a further 3 % .

Europe and its euro currency must be made know tow to Irelands interests always.

Unless a firm hand is taken on this matter then the Frankfurt euro dog will always be wagging the Irish tail.

going on past experiences, correct me if I'm wrong, Ireland does exactly what it's told by the eu.
we will be sunk.
 

The Field Marshal

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going on past experiences, correct me if I'm wrong, Ireland does exactly what it's told by the eu.
we will be sunk.
No.
As a sovereign state the Irish govt can chose to introduce its own national currency in tandem with the euro and set its own rates.

There is nothing any eurozone authority can do to stop this should it become necessary .
 

ionsniffer

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No.
As a sovereign state the Irish govt can chose to introduce its own national currency in tandem with the euro and set its own rates.

There is nothing any eurozone authority can do to stop this should it become necessary .
you think Leo Varakar and co will honestly do this?
 

SamsonS

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Economic Incentives

Seamus Coffey piece on Google, Apple, Facebook and Amazon (GAFA) and corporate taxes.

"Do these companies pay enough tax?  That is not what we are trying to answer here.  What we can say is that between 2012 and 2016 these companies paid $68.4 billion of corporate income tax which was equivalent to 16.4 per cent of their income before income taxes.  What tends to be true of most studies of these companies is that the authors want the companies to pay more tax in certain countries which will almost certainly result in less tax being paid in others. 
Who got most of the $68 billion that the companies paid? The US, of course, because that is where most of the profits were generated.  And if the US didn’t allow deferral or have rules that allowed US-source income to be treated as “offshore” it would collect even more.  And no matter what formulas are used the EU will not simply be able to go and take that taxing right."

Economic Incentives: US companies in the business economies of the EU–and the taxation of their profits

And from yesterday, really interesting comparison of the shares of the large US businesses , and where Ireland stands in this.
 

clearmurk

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Economic Incentives

Seamus Coffey piece on Google, Apple, Facebook and Amazon (GAFA) and corporate taxes.

"Do these companies pay enough tax?  That is not what we are trying to answer here.  What we can say is that between 2012 and 2016 these companies paid $68.4 billion of corporate income tax which was equivalent to 16.4 per cent of their income before income taxes.  What tends to be true of most studies of these companies is that the authors want the companies to pay more tax in certain countries which will almost certainly result in less tax being paid in others. 
Who got most of the $68 billion that the companies paid? The US, of course, because that is where most of the profits were generated.  And if the US didn’t allow deferral or have rules that allowed US-source income to be treated as “offshore” it would collect even more.  And no matter what formulas are used the EU will not simply be able to go and take that taxing right."

Economic Incentives: US companies in the business economies of the EU–and the taxation of their profits

And from yesterday, really interesting comparison of the shares of the large US businesses , and where Ireland stands in this.
I was wondering how long it would take for Mr Coffey to be rolled out.....took longer than expected.

So someone being paid by the state produces analysis supporting the state's position on MNC taxation. Quelle surprise!
 

SamsonS

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I was wondering how long it would take for Mr Coffey to be rolled out.....took longer than expected.

So someone being paid by the state produces analysis supporting the state's position on MNC taxation. Quelle surprise!
What is your issue? It seems to be that you have dismissed the articles because of who has written them.
 

Patslatt1

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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 )
Position of EU on QMV for areas of taxation https://ec.europa.eu/taxation_customs/sites/taxation/files/resources/documents/egs_en.pdf
 


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