 |
|
 |
|
|
| Author |
Message |
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma : 
|
 Posted: 21:20 - 18 Nov 2014  Post subject: Irish corporation tax haven and the EU. |
 |
|
So, countless massive companies are trading in the UK but paying very little tax, because they are Irish. Like Facebook, Google etc...
I take it the Irish loophole is to do with EU free trade, otherwise these companies would still be US and not Irish.
If that's the case then if we left the EU we could make Bono, Geldof, Google, Facebook, Amazon and the rest of them pay UK tax can't we?
Unless of course, they want to lose the UK as a market.
I wonder what closing this loophole would add to UK coffers, when the Pro EU brigade are scaremongering over lost EU trade?
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
  |
You must be logged in to rate posts |
|
 |
| Ed Case |
This post is not being displayed .
|
Ed Case
World Chat Champion
Joined: 01 Mar 2009
Karma :  
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| FlightRisk |
This post is not being displayed .
|
FlightRisk
Spanner Monkey
Joined: 08 Jul 2014
Karma : 
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| daemonoid |
This post is not being displayed .
|
daemonoid
World Chat Champion
Joined: 27 Jun 2008
Karma :
|
| Posted: 11:14 - 19 Nov 2014 Post subject: Re: Irish corporation tax haven and the EU. |
|
|
| mpd72 wrote: | So, countless massive companies are trading in the UK but paying very little tax, because they are Irish. Like Facebook, Google etc...
I take it the Irish loophole is to do with EU free trade, otherwise these companies would still be US and not Irish.
If that's the case then if we left the EU we could make Bono, Geldof, Google, Facebook, Amazon and the rest of them pay UK tax can't we?
Unless of course, they want to lose the UK as a market.
I wonder what closing this loophole would add to UK coffers, when the Pro EU brigade are scaremongering over lost EU trade? |
It's to do with any free trade... If the UK separates from Europe then either all trade will be taxed making the UK unviable, or more likely free trade agreements will be negotiated on an individual basis (probably at slightly worse terms than the UK gets from being part of a large block).
Closing the loophole would likely involve closing the 'loophole' that the UK uses to not pay tax on its exports and financial products. Closing the 'loophole' would cost the UK big time!
This is another one of those scapegoat stories... The public want an enemy, it started out as the scrounging poor, now it's increasingly changing course to big business and the 1%. All whilst the real issues are being hidden - TTIP, privatisation of vital services.
____________________
current: ducati monster 750
past: hyosung gt250r, bajaj pulsar 180, hyosung gt 125 comet
@thomasgarrard | www.straitjkt.com | www.racingseven.com |
|
| Back to top |
  |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
| Posted: 13:46 - 19 Nov 2014 Post subject: |
|
|
| Celt500 wrote: | Ireland isn't doing anything the UK couldn't be doing, & it's not a tax haven. |
True, it the UK had also not had to pay out the EU £113,120,000,000 instead, like Ireland, had received 41,992,000,000 Euro's from the EU, it could probably afford to undercut all of it's neighbouring countries Corporation tax too.
Figures up to 2012 are here....
https://money-go-round.eu/Country.aspx?id=IE
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
| Posted: 13:58 - 19 Nov 2014 Post subject: Re: Irish corporation tax haven and the EU. |
|
|
| daemonoid wrote: |
It's to do with any free trade... If the UK separates from Europe then either all trade will be taxed making the UK unviable, |
Unviable? what you mean Google, Amazon, Facebook, Wallmart and all other foreign firms will stop offering their goods to the UK and give up on that market?! No chance.
| daemonoid wrote: |
or more likely free trade agreements will be negotiated on an individual basis (probably at slightly worse terms than the UK gets from being part of a large block). |
That's a matter of opinion. There are many who think we'd be able to negotiate better trade deals on our own, without EU interference.
| daemonoid wrote: | Closing the loophole would likely involve closing the 'loophole' that the UK uses to not pay tax on its exports and financial products. Closing the 'loophole' would cost the UK big time! |
Sorry, your argument is seriously flawed. Closing the loophole could only be done by leaving the EU. This would mean that any European Import to the UK (other than non-VAT goods, such as food), would automatically earn the UK 20% VAT plus import duty. Being a net importer from the EU to the tune of around £7 Billion PER MONTH, we would do very well out if it on that basis.
Foreign imports would suddenly become less competitive, giving a boost to UK manufacturing. Win-Win.
| daemonoid wrote: | This is another one of those scapegoat stories... The public want an enemy, it started out as the scrounging poor, now it's increasingly changing course to big business and the 1%. All whilst the real issues are being hidden - TTIP, privatisation of vital services. |
It is according to the left wing media, not so to the growing numbers of us who want out of Europe. It all depends on personal opinion. Clearly ours differ widely, which is what makes for good debate. 
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| daemonoid |
This post is not being displayed .
|
daemonoid
World Chat Champion
Joined: 27 Jun 2008
Karma :
|
Posted: 14:27 - 19 Nov 2014  Post subject: Re: Irish corporation tax haven and the EU. |
|
|
| mpd72 wrote: | Unviable? what you mean Google, Amazon, Facebook, Wallmart and all other foreign firms will stop offering their goods to the UK and give up on that market?! No chance. |
No, I mean they can carry on because their UK arm is simply paying a foreign entity of ip or services to ensure the UK balance sheet stays low. And the genuine UK export businesses suddenly have their exports taxed making them less competitive.
| mpd72 wrote: | That's a matter of opinion. There are many who think we'd be able to negotiate better trade deals on our own, without EU interference. |
We'd be able to negotiate better than free to our largest trading partners? I'll assume you didn't think that one through...
| mpd72 wrote: | Sorry, your argument is seriously flawed. Closing the loophole could only be done by leaving the EU. This would mean that any European Import to the UK (other than non-VAT goods, such as food), would automatically earn the UK 20% VAT plus import duty. Being a net importer from the EU to the tune of around £7 Billion PER MONTH, we would do very well out if it on that basis.
Foreign imports would suddenly become less competitive, giving a boost to UK manufacturing. Win-Win. |
Ah, but don't forget the countries we export to now tax our goods meaning we're uncompetitive. Essentially you're idea reduces trade in both directions when what we really want is more trade in our exports (after all, that's the only way new money gets into the UK).
| mpd72 wrote: | It is according to the left wing media, not so to the growing numbers of us who want out of Europe. It all depends on personal opinion. Clearly ours differ widely, which is what makes for good debate. |
The right wing seems to think that an exit means the UK gets everything it wants and all the other countries will just agree. Instead, you have to realise that everyone will be fighting for a bit more profit if the UK leaves. Plus, you'll have some countries who just try to screw over the UK as retribution. Luxembourg and Switzerland would love a chunk of the financial sector, France and Germany would happily grind down UK manufacturing and Ireland will take the tech.
Putting up the walls and taxing everything in and out only works when you're a powerhouse nation that others actually want things from, the UK is long past that stage. The UK is a big market, but not so big that it's worth pissing off other trade partners.
____________________
current: ducati monster 750
past: hyosung gt250r, bajaj pulsar 180, hyosung gt 125 comet
@thomasgarrard | www.straitjkt.com | www.racingseven.com |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
| Posted: 15:59 - 19 Nov 2014 Post subject: Re: Irish corporation tax haven and the EU. |
|
|
| daemonoid wrote: |
No, I mean they can carry on because their UK arm is simply paying a foreign entity of ip or services to ensure the UK balance sheet stays low. And the genuine UK export businesses suddenly have their exports taxed making them less competitive. |
If US companies can do it, why couldn't UK ones? We'd be in the same boat if out of the EU.
| daemonoid wrote: | We'd be able to negotiate better than free to our largest trading partners? I'll assume you didn't think that one through... |
I did. There's a big wide world outside of the EU you know...We actually export more to outside of the EU than within the EU, even with the EU free trade agreement. The rest of the UE does well out of us as a market though, as we import more from the EU than we do from outside the EU. So we allow the majority of our imports to come in free of VAT and duty yet still pay VAT and duty on the majority of our exports, which is hardly making the EU work for us is it? Our biggest export partner is the US. The worlds biggest growing economies and prospective trade partners are not in the EU. If we cold negotiate our own trade deals with China, India, Brazil and the rest independent of the EU, which only wants to look out for itself, it could be very beneficial for the UK.
https://www.tradingeconomics.com/united-kingdom/exports
| daemonoid wrote: | Ah, but don't forget the countries we export to now tax our goods meaning we're uncompetitive. Essentially you're idea reduces trade in both directions when what we really want is more trade in our exports (after all, that's the only way new money gets into the UK). |
We import way more than we export so this ultimately would work in our favour. Instead of importing from the EU, way more than we export the EU, our own businesses would suddenly be able to compete and could produce more UK goods for our home market. This would help reduce the need for imports and help our current trade deficit. Our exports outside of the EU would be unaffected, unless the importing country decided to not let us have a similar deal to what it currently offers the EU, which is highly unlikely.
| daemonoid wrote: | The right wing seems to think that an exit means the UK gets everything it wants and all the other countries will just agree. Instead, you have to realise that everyone will be fighting for a bit more profit if the UK leaves. Plus, you'll have some countries who just try to screw over the UK as retribution. Luxembourg and Switzerland would love a chunk of the financial sector, France and Germany would happily grind down UK manufacturing and Ireland will take the tech.
|
So, kind of as it already is now then? 
| daemonoid wrote: | Putting up the walls and taxing everything in and out only works when you're a powerhouse nation that others actually want things from, the UK is long past that stage. The UK is a big market, but not so big that it's worth pissing off other trade partners. |
I know you now live in mainland Europe but come on...to suggest the UK has nothing to offer other countries?!  Aerospace, medical, engineering...Did you know UK exports hit a record high since 1955, in September 2013 and have remained high since. Not bad for a country nobody wants things from eh?
As for not being a powerhouse nation... Where are the worlds main stock exchanges again?
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| barrkel |
This post is not being displayed .
|
barrkel
World Chat Champion
Joined: 30 Jul 2012
Karma : 
|
| Posted: 16:47 - 19 Nov 2014 Post subject: Re: Irish corporation tax haven and the EU. |
|
|
| mpd72 wrote: | We actually export more to outside of the EU than within the EU, even with the EU free trade agreement. The rest of the UE does well out of us as a market though, as we import more from the EU than we do from outside the EU. So we allow the majority of our imports to come in free of VAT and duty yet still pay VAT and duty on the majority of our exports, which is hardly making the EU work for us is it? |
You sound like a mercantilist.
BTW, London is heavily reliant on educated foreign labour, people from the EU especially, all over finance and tech. Leaving the EU without keeping most of what the EU does - free trade and freedom of movement - would decimate London's output.
____________________
Bikes: S1000R, SH350; Exes: Vity 125, PS125, YBR125, ER6f, VFR800, Brutale 920, CB600F, SH300x4
Best road ever ridden: www.youtube.com/watch?v=s2MhNxUEYtQ |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
| Posted: 16:53 - 19 Nov 2014 Post subject: Re: Irish corporation tax haven and the EU. |
|
|
| barrkel wrote: | | mpd72 wrote: | We actually export more to outside of the EU than within the EU, even with the EU free trade agreement. The rest of the UE does well out of us as a market though, as we import more from the EU than we do from outside the EU. So we allow the majority of our imports to come in free of VAT and duty yet still pay VAT and duty on the majority of our exports, which is hardly making the EU work for us is it? |
You sound like a mercantilist. |
I had to look that up! 
The import/export stats quoted are all fact though... Because of our EU membership, we do allow the majority of our imports to come in un-taxed, yet still have to pay tax on the majority of our exports. Not a great deal really for the UK.
I was also surprise to find out that UK exports hit a record (since 1955) high last year and have remained strong. Not bad for a country that apparently has no manufacturing or things that other nations want anymore.
https://www.tradingeconomics.com/united-kingdom/exports
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
| Posted: 18:13 - 19 Nov 2014 Post subject: Re: Irish corporation tax haven and the EU. |
|
|
| barrkel wrote: | | mpd72 wrote: | We actually export more to outside of the EU than within the EU, even with the EU free trade agreement. The rest of the UE does well out of us as a market though, as we import more from the EU than we do from outside the EU. So we allow the majority of our imports to come in free of VAT and duty yet still pay VAT and duty on the majority of our exports, which is hardly making the EU work for us is it? |
You sound like a mercantilist.
BTW, London is heavily reliant on educated foreign labour, people from the EU especially, all over finance and tech. Leaving the EU without keeping most of what the EU does - free trade and freedom of movement - would decimate London's output. |
Only just seen your edit. Anything to back up your pro-EU unproven scare mongering?
Personally, I always see the UK as losing more expertise to foreign countries than we import in. Maybe you can prove differently?
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| moonzoomer |
This post is not being displayed .
|
moonzoomer
World Chat Champion
Joined: 01 Jul 2012
Karma : 
|
| Posted: 21:19 - 22 Nov 2014 Post subject: |
|
|
Northern Ireland UK is attempting to get its Corporation tax dropped to 12.5% to match the ROI in an attempt to gain foreign investment, we should know how that goes before the end of the year.
https://www.bbc.co.uk/news/uk-northern-ireland-27659600 |
|
| Back to top |
| |
You must be logged in to rate posts |
|
 |
Old Thread Alert!
The last post was made 11 years, 29 days ago. Instead of replying here, would creating a new thread be more useful? |
 |
|
|
This page may contain affiliate links, which means we may earn a small commission if a visitor clicks through and makes a purchase. By clicking on an affiliate link, you accept that third-party cookies will be set.
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum
|
Read the Terms of Use! - Powered by phpBB © phpBB Group
Debug Mode: ON - Server: birks (www) - Page Generation Time: 0.10 Sec - Server Load: 1.23 - MySQL Queries: 14 - Page Size: 90.36 Kb
|
Help & FAQs
Search BCF
Members
Groups
Events Calendar
rating
rating