Ireland Changed Tax Strategy for Tech GiantsAdded: Thursday, October 31st, 2013
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Apparently, Irish Finance Minister is committed to a crackdown on multinational corporations’ big business tax avoidance. As a result, Apple and Google will be affected first.
At the moment, the Irish government remains under pressure to do something about its low corporation tax rate. The matter is that its tax strategy made the country very popular with tech giants like Apple, Facebook and Google. Finance Minister has promised that the 12.5% tax rate wouldn’t be touched, and revealed a new plan which is supposed to prevent big businesses from being “stateless” for tax purposes. The government confirmed that they have a statement on international tax strategy in Budget 2014, which would set out the country’s objectives and commitments on global tax and avoidance issues. Finance Minister announced they are going to include a reform to make sure that no Irish registered entity can be stateless for tax purposes.
Apparently, the country has been under a fair bit of pressure for a while. For example, Germany claimed they would have to bail out the Irish economy when it is ignoring pots of gold from the likes of Google and Apple. Of course, the people are also unhappy that they are expected to be austere and lose government services while tech giants are making millions. However, the new rules for “stateless” entities will only apply from January 2015, so tech giants will have plenty of time to find a new tax haven.
October 31st,2013Posted by:
Thursday, October 31st, 2013
|posted by (2013-10-31 19:34:00)|
|posted by (2013-10-31 20:42:45)|
|The biggest problem facing the finance minister is that if he does anything that annoys the tech giants then he could lose our biggest employers. I (as an Irishman) have seen the headlines screaming about the millions in tax we are not getting however I would prefer that than a situation where we end up with even more people on the welfare rolls.|
|posted by (2013-10-31 21:17:04)|
|i agree with you patoinsf|
|posted by (2013-10-31 22:47:32)|
|Ireland is taking actions that will make it best left to maggots and "the damp".|
|I believe Intel should be in that group along with Apple, Facebook, and Google.|
|posted by (2013-11-02 00:11:12)|
|we need to deal with the 4,000 that are given visa's here every week just to get the dole ffs,our best and brightest have to immigrate while these maggots come here and avail of free money,it's a bloody shame.||
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