Domestic operations companies have little access to tax havens and likely pay 12.5% since there aren't many worthwhile tax breaks left. Investing in film production is very risky, for instance.The investors in Royalty Pharma and Royalty Pharma aren't paying any tax at all because the vehicle they are registered to in Ireland is exempt from corporation tax.
That's the reason why this company registered the Unit Trust Private Company.
And quite apart from that no corporation in Ireland pays 12.5% corporation tax. Nor nowhere near it.
In principle, taxes should be decided after investigation of transfer pricing between domestic and foreign operations of a company on a case by case basis. This would be so onerous as to be almost impossible maybe.So....
No Customs Duty
No meaningful Corporation Tax
What a wonderful world they have created.
A good third level education system and the low corporate income tax rate (still high commercial rates and moderate employer payroll taxes) are the principal competitive advantages of Ireland. Ireland has some serious disadvantages such as low infrastructure spending for a decade, very high housing costs and slow adoption of IT.Do people actually realise that the phrase 'best little country in which to do business' actually means that it is one of the most amenable to tax avoidance?
Or do they think business interests are referring to the bracing country airs?