Ireland Will Fight with Tax ArrangementAdded: Wednesday, October 29th, 2014
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The country has officially announced it would address the “double Irish” tax scheme. The latter has enabled major tech giants, including Apple, to dramatically cut down their tax bills. It also helped multinationals to move their taxable revenue from an operating company in Ireland to an Irish registered entity in an offshore tax haven.
The Irish finance minister has recently confirmed that the tax arrangement in question would be ended fully within 4 years, saying that the new measures will enhance the country’s corporate tax regime and ensure that Ireland remains attractive to the best and most successful companies worldwide.
At the same time, the minister defended Ireland’s low 12.5% corporation tax, which has been harshly criticized by other European states, including France. The latter claimed that the rate was tantamount to state aid for such tech giants as Facebook, Google and Apple. In response, the Irish finance minister made an attempt to maintain Ireland’s reputation as a low-tax country for multinationals and introduced a so-called “knowledge development” box that was supposed to encourage major companies to conduct research and development in the country and be awarded with generous tax breaks.
The financial experts pointed out that it was the first Irish budget since the global economic crash to see some easing up of the measures taken by the IMF and EU as the price for the multi-billion euro bail out which saved the country from national bankruptcy.
The Irish finance minister predicted that by 2016 (which is important as the year of the next general election), 2 million people would have jobs in the country. This was quite a bold prediction. Moreover, the minister also projected for Irish economic growth by 3.9% for 2015, which appeared much higher than the original 2.7% growth forecasted back in April 2014.
It should be noted that the top rate of tax in Ireland was cut from 41% to 40%. In addition, there were no increases in tax on beer, wine, petrol or diesel. The only extra tax was put on cigarettes.
Finally, the financial analysts pointed out that the Ireland’s GDP deficit of 2.7% of would now be lower than the 2.9% rate (the required target). According to the minister, this shows that the Irish economy is growing at the fastest rate among the developed countries.
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Wednesday, October 29th, 2014
|posted by (2014-10-29 21:18:42)|
|All those fat heads have ruined my beautiful country|
|I gotta agree, that guy in the picture certainly has a fat head.|
|Looks like we are getting the short end of the stick yet again. It may not look like it but we will. "finance minister" HA he could not finance his way out of a whore house the twat.|
|a face I'd like to slap.|
|the one who will someday become the public enemy #1|
|Guess who'sleaving the country??|
|posted by (2014-10-30 16:04:00)|
|@ ausy77 i agree with you ireland is very beautyful|
|posted by (2014-10-30 20:17:22)|
|minds fight tax cut for if you can fly over there other of your fly corp help you because it where no body can travel easy and it attractive for high tech corps bud not for all.|
|The irony is that if or when the Irish clamp down on Apple and all the other companies involved in tax avoidance they will simply up sticks and impose their shady business ethics on any other country willing to have them, these parasites exploit third world workers, and refuse to pay tax in the countries they sell their overpriced rubbish to thus exploiting everyone, if the guy in the street operated as they do they would be public enemy no 1 and thrown in jail, yet these a**holes are held up by governments as the good guys,and allowed to dictate to our elected governments just what rate of tax they are prepared to pay....to all of you who have bought the latest Crapple Ipod/phone/pad or what ever other piece of unnecessary junk they are peddling at the moment...you are part of the problem|
|There has always been and always will be tax dodgers. What about the people who claim benefits and work for cash on the side. What about self employed people who dont declare all their earnings ? I know stacks of these people. And the question of these peeps who keep buying the new phones because they can now flush the toilet for you....... well keep wasting your money. Phone = (calls,text) internet/gaming = (high power comp and a dam big 3d screen lol).||
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