With all EU countries obligated to impose the 15 per cent minimum corporation tax rate from next year, a multi-billion-dollar subsidiary of the semiconductor giant straddling Ireland and Malta is moving away from Dublin. But where will the tax be paid eventually?
Simon Coveney says he wants to help build a “new economy”. What does it look like, and where does Budget 2024 fit into the plan? The Minister for Enterprise, Trade and Employment sets out his case.
Microsoft has just disclosed a multi-billion-dollar dispute with the IRS over the transfer pricing arrangements it put in place two decades ago. Ireland was central to those structures.
As corporation tax receipts fall below forecasts, the largest payments yet to come this year will determine the new trend after years of runaway growth.
Stripe’s rising expenditure in accounts filed in Ireland tells us more about the consolidation of Dublin as its tax centre than about its profitability.
The pharmaceutical group has entered Chapter 11 bankruptcy proceedings in the US for the second time in two years, with its Dublin HQ and IP centre due to follow suit here this week.
No one really cares where windfall corporation tax is coming from as long as it keeps coming and, absent radical political change in the US, it likely will. What to do with it? We currently have no coherent answer.
A promised measure to exempt foreign dividends from corporation tax will make no financial difference but was a key simplification demand of FDI investors.
No one really thinks that Ireland’s €250 billion domestic economy is generating €200 billion in profits for American multinational firms. To recover its tax base, the US should reform its own rules.
After Budget 2024, multinationals will no longer have access to a 12.5% rate in Ireland. There is still a lot more they can do to locate profits here at a tax advantage, however, and the unofficial expectation for the Exchequer is: more money.
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