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France getting very active over Tax & Multinationals - Irelands FDI mentioned


robut

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http://www.nytimes.com/reuters/2013/01/09/business/09reuters-france-tax-multinationals.html?smid=tw-share&_r=0

The French government has asked for a report that will outline ways to stop multinational companies dodging taxes, a practice that indirectly stifles local companies, culture minister Aurelie Filippetti said.

European countries have been stepping up efforts to clamp down on companies, mostly from the United States, which minimize their tax bills by channeling profit through low-tax regimes.
Her comments came as books-to-music retailer Virgin Megastore France prepared to file for insolvency on Wednesday, becoming the latest victim of a slump in CD and DVD sales as consumers buy more content online.
Link to Virgin Megastore story:
http://www.france24.com/en/20130109-virgin-megastore-france-insolvent-amazon

And of course a reference to our good selves:

Internet group Google is also under audit by the French tax authority about a structure which channels sales through Ireland.
So - is this an ill wind travelling our way? Causing potential issues to the longterm residence of our FDI and the jobs? The USA are getting a bit angsty about this also I think?
 
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Spanner Island

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F*** off France... and f*** you Hollande and your loony leftie sh!te...

I think Kieran Allen should move to France...

I bet he'd love it...

He'd get excited and aroused by civil disobedience a lot more often over there...
 

Grumpy Jack

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If France, Germany, UK, US, etc, want to stop multinationals taking advantage of their tax laws to minimise tax via agreements with other states, then change their tax laws and negotiate new tax treaties with each other and the other states concerned.

Bet they won't though. They will talk about it a lot and come out with a load of populist guff - but I'll bet when their politicians and officials come under pressure from their own companies and multinationals, they'll fold as they always do and quietly back away from any change.

Ireland just needs to sit tight and do nothing.
 

lying eyes

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Hollande better be careful, all the Multinationals will leave France--Just like all the rich will leave Ireland, if they are asked to pay a fair share of the tax. What dross we swallow........
 

Spanner Island

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Hollande better be careful, all the Multinationals will leave France--Just like all the rich will leave Ireland, if they are asked to pay a fair share of the tax. What dross we swallow........
Plenty of rich people leaving France currently...

Gerard Depardieu is now a Russian citizen while the London property market is reportedly full of French high earners looking for a base...

Apparently they're not mad about a 75% tax rate... and they're dead right too...
 

Howya

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Interestingly the US reconfirmed existing tax regulations under the fiscal cliff deal that allows US companies to avail of off shore tax structuring, so they shouldn't be throwing stones - if I can find the link, I'll post it.
 

gaiusc

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The French government has asked for a report that will outline ways to stop multinational companies dodging taxes
Well the first thing you should do it fix your own tax code that allows them to declare the earnings in Ireland in the first place.

That's your own tax code mind, not our tax rate.
 

Mad as Fish

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feargach

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Furze

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This is the build up for a quid pro quo on the promissory notes.
Our mini elite will be up in arms - Mary McAleese will have to ask the Pope to intervene!
 

tokkie

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http://www.nytimes.com/reuters/2013/01/09/business/09reuters-france-tax-multinationals.html?smid=tw-share&_r=0





Link to Virgin Megastore story:
Virgin Megastore France declares itself insolvent - FRANCE - FRANCE 24

And of course a reference to our good selves:



So - is this an ill wind travelling our way? Causing potential issues to the longterm residence of our FDI and the jobs? The USA are getting a bit angsty about this also I think?
We should invade. It would help our economy and after a few weeks we would have our own colony. Tis only France after all.
 

Grumpy Jack

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This is the build up for a quid pro quo on the promissory notes.
Our mini elite will be up in arms - Mary McAleese will have to ask the Pope to intervene!
It's nothing to do with us - that's just bluster from Paris, London, Berlin, Washington, etc, to cover the fact that it is their own laws and multiple treaties to which they are signatories that allow their own companies and others to take advantage of tax laws in other jurisdictions, such as Ireland, Netherlands, Bermuda, etc.
 

Analyzer

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We shoud send out Shatter to help them with their austerity program.

He can start by explaining how France does not need as many police.
 

Frank Galton

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The Virgin Megastore was done in by the high rent on the Champs Elysees and not any diversion of online sales to Ireland. Across the street from the Virgin Megastore, Chinese tourists are tripping over each other to pay 3500 euro for a LVMH bag, so it's not like little old Ireland is stealing all of France's cash cows by transfer pricing.

As previous commenters have mentioned, Hollande and his axeman Mountebourg are scaring off more FDI than any tax regime will attract.
 

hiker

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http://www.nytimes.com/reuters/2013/01/09/business/09reuters-france-tax-multinationals.html?smid=tw-share&_r=0





Link to Virgin Megastore story:
Virgin Megastore France declares itself insolvent - FRANCE - FRANCE 24

And of course a reference to our good selves:



So - is this an ill wind travelling our way? Causing potential issues to the longterm residence of our FDI and the jobs? The USA are getting a bit angsty about this also I think?

I think the shift of retail from High Street to Online is causing all sort of problems for all taxing authorities. It is inevitable that those in charge of taxing stuff will be looking at ways to get aslice of the action especially if the end product ends up inside their jurisdiction....

This is New Commerce...no one really knwos how it will all pan out. One thing is for sure:strong State regimes like the Republic of France will find a way to get their share...
 

asset test

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If only France fixed its total bureaucratic nightmare for setting up business there, or any other intrraction with those who use the State Services, well, that might help entrepreneurship there.

Some might think the PS here are deserving of criticism, but try and penetrate the total wall of bureaucry in France, and you will be disappointed.

Full PS employment there for the Mairie's office, the Impot, etc., and it is not, in general, a pleasant experience either.
 

Grumpy Jack

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Does it make a difference whether the rich stay or leave?
In Ireland's case, very much so - they pay a large proportion of income tax and a fair whack of other taxes such as VAT, VRT, DIRT, CGT, CAT, etc.

Have a look at the Revenue's own tax stats for the last few years on their website.
 
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Analyzer

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The Virgin Megastore was done in by the high rent on the Champs Elysees and not any diversion of online sales to Ireland. Across the street from the Virgin Megastore, Chinese tourists are tripping over each other to pay 3500 euro for a LVMH bag, so it's not like little old Ireland is stealing all of France's cash cows by transfer pricing.

As previous commenters have mentioned, Hollande and his axeman Mountebourg are scaring off more FDI than any tax regime will attract.
Considering the content of the Anglo Bondholders, maybe Ireland Inc. should evaluate a way to get the Chinese tourists to come here to trip over each other to buy high profit margin fashion. Though admittedly the weather is awful, and the security on our city streets for tourists is dreadful also.
 

Spanner Island

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This is the build up for a quid pro quo on the promissory notes.
Of course it is...

As time has passed by and our gutless wonders have missed one opportunity after another to exert pressure and get a standalone deal on debt, it's become increasingly obvious that there will be no standalone deal and that we're gonna be made concede all sorts in return for any deal...

Not that this will prevent our tossers from claiming victory as they spin the 'deal' on debt while playing down everything they had to concede in order to get it...

The Greeks and Spanish have played their hands far more effectively than our hopeless EU arse lickers...

Our mini elite will be up in arms - Mary McAleese will have to ask the Pope to intervene!
No they won't...

They won't give a sh!t as long as their pay and pensions are secured...
 
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