Yanis Varoufakis: Ireland Is A Tax Haven Free-Riding On Europe

YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,175
Eoin Burke-Kennedy reports for the Irish Times that Yanis Varoufakis the former Greek finance minister has labelled Ireland as a tax haven. And furthermore descried Ireland as a country that's free-riding on Europe. Huge tax avoidance by multinationals in Ireland is ripping tax take of Europeans to shreds on a monumental scale.

What's Yanis on about? Where does the hostility come from now? Does Greece want a piece of the MNC action with the US?

https://www.irishtimes.com/business/economy/yanis-varoufakis-ireland-a-tax-haven-free-riding-on-europe-1.3527092
 


hammer

Well-known member
Joined
Jul 6, 2009
Messages
58,180
Read the article this morning.

Did he say that Greek wages fell 40%

Vote Syriza Fein # 1
 

gleeful

Well-known member
Joined
Feb 7, 2016
Messages
7,520
Eoin Burke-Kennedy reports for the Irish Times that Yanis Varoufakis the former Greek finance minister has labelled Ireland as a tax haven. And furthermore descried Ireland as a country that's free-riding on Europe. Huge tax avoidance by multinationals in Ireland is ripping tax take of Europeans to shreds on a monumental scale.

What's Yanis on about? Where does the hostility come from now? Does Greece want a piece of the MNC action with the US?

https://www.irishtimes.com/business/economy/yanis-varoufakis-ireland-a-tax-haven-free-riding-on-europe-1.3527092
Tax avoidance is perfectly legal.

He's only partly right though. If it were just tax, the multinationals wouldn't employ 100,000 people here - they'd just have brass plate HQs. Its more than tax - its regulation avoidance. Try run a business in Greece or France - you'll need to hire more lawyers and accountants than anything else.
 

CookieMonster

Well-known member
Joined
Feb 19, 2005
Messages
33,861
Indeed, Yanis. Of course we're the only EU country with a favorable corporate tax system.

Isn't that right, Luxembourg?
 

former wesleyan

Well-known member
Joined
Nov 29, 2009
Messages
25,565
Strangely enough Yanis likes his fees to be deposited offshore.
 

Watcher2

Well-known member
Joined
May 2, 2010
Messages
34,341
Tax avoidance is perfectly legal.

He's only partly right though. If it were just tax, the multinationals wouldn't employ 100,000 people here - they'd just have brass plate HQs. Its more than tax - its regulation avoidance. Try run a business in Greece or France - you'll need to hire more lawyers and accountants than anything else.
Tax avoidance for companies is not legal. Corporate structures whose main aim is to avoid tax is not legal. The structures need to be for purely business economic reasons. If tax mitigation is a by product, that's fine. But AVOIDANCE is not legal.

It's a bit rich for a Greek policy maker to be preaching about tax policies.
 

Analyzer

Well-known member
Joined
Feb 14, 2011
Messages
45,623
Read the article this morning.

Did he say that Greek wages fell 40%

Vote Syriza Fein # 1
There are some things that even the Greek Syriza will not do !!!!

Like launder Diesel, and tell the public that those that do it, are "good republicans".

So please stop slandering Syriza, by associating them with the Provisional Cult.
 

hammer

Well-known member
Joined
Jul 6, 2009
Messages
58,180
There are some things that even the Greek Syriza will not do !!!!

Like launder Diesel, and tell the public that those that do it, are "good republicans".

So please stop slandering Syriza, by associating them with the Provisional Cult.
Very good :)
 

Analyzer

Well-known member
Joined
Feb 14, 2011
Messages
45,623
Very good :)
Because it is true.

Will Pearse Doherty please tell us the effective corporate tax rate for those in the hydrocarbon sector in South Armagh.

As I say, even Syriza have standards.

PSF have Liam Adams.
 

gleeful

Well-known member
Joined
Feb 7, 2016
Messages
7,520
Tax avoidance for companies is not legal. Corporate structures whose main aim is to avoid tax is not legal. The structures need to be for purely business economic reasons. If tax mitigation is a by product, that's fine. But AVOIDANCE is not legal.

It's a bit rich for a Greek policy maker to be preaching about tax policies.
Tax evasion is illegal. Avoidance is legal. Moving your company to a lower tax jurisdiction, or changing the way you work to reduce your tax bill - is legal.

https://www.investopedia.com/terms/t/tax_avoidance.asp

 

Analyzer

Well-known member
Joined
Feb 14, 2011
Messages
45,623
The Irish government need to donate money to Yanis Varoufakis, just like Bertie donated to the Clinton Foundation.
 

Watcher2

Well-known member
Joined
May 2, 2010
Messages
34,341
Tax evasion is illegal. Avoidance is legal. Moving your company to a lower tax jurisdiction, or changing the way you work to reduce your tax bill - is legal.

https://www.investopedia.com/terms/t/tax_avoidance.asp

Avoidance for corporates is not legal, it is for individuals. I know companies do it, but there is always a discussion, second in reality, but the primary purpose of any restructure is supposed to be for business purposes first and foremost. I've been involved in a number of restructures and the tax advisers have informed me of this position.

On a quick look at your link, it seems to focus on individuals and also looks like a US commentary. I was looking at it from an Irish perspective.
 

clearmurk

Well-known member
Joined
Apr 27, 2012
Messages
3,010

clearmurk

Well-known member
Joined
Apr 27, 2012
Messages
3,010
Tax avoidance for companies is not legal. Corporate structures whose main aim is to avoid tax is not legal. The structures need to be for purely business economic reasons. If tax mitigation is a by product, that's fine. But AVOIDANCE is not legal.

It's a bit rich for a Greek policy maker to be preaching about tax policies.
About time this was clearly articulated. The extreme avoidance we have seen in this country is evasion.
 


New Threads

Most Replies

Top