>Ireland’s prime minister has said the country could lose €10bn (£8.35bn) in corporate tax if just three US multinationals were repatriated to America under a hostile Donald Trump administration.
No companies are getting repatriated to America.
What we could see is more US companies licking arse to Trump by sending more money back to the US and paying tax there instead.
mybighairyarse on
I’m not getting this.
If trump puts huge tariffs on EU exports into America. What’s stopping the EU putting the same tariffs on American goods coming over here?
Am I missing something?
Does Trump understand that?
PoppedCork on
Just makes the holes in the manifesto even bigger.
Closersolid on
Just shows how massively over reliant we are on FDI
Apprehensive_Ratio80 on
If there was a strategy to what he’s planning then maybe I could understand but his plan seems to be blanket tariffs on everyone for everything which will severely disrupt trade and push all other countries close together going around the USA wherever possible.
Gonna be an interesting few years, possibly more with MAGA in charge over there 🤣🤣🤣🤣😅😅😅😅🥹🥹🥹🥹😮💨
ReissuedWalrus on
10 Multinationals account for 60% of Ireland’s corporate tax receipts (€15.9B) which amounts to about 15% of our overall tax intake. Those 10 multinationals also provide a lot of high income jobs so provide a significant amount of our income tax intake too, especially when you consider that the majority of income tax is paid for by high income earners.
A-Hind-D on
Could
GerKoll on
We done this before with him, and exports to the US rose until 2019 despite tariffs and punitive laws against the EU. As soon as inflation rises again in the USA, and it will fast if tariffs for Canada and Mexico really are coming in January, companies will exit the even faster.
Shame we don’t have the houses for the US brain drain, should he really implement his economic “ideas”….
codt98 on
Been building higher and higher on quicksand instead of using this time to build solid foundations. All these corp tax receipts and piss poor infrastructure so if they’re gone we have fuck all to show for it. But hey at least landlords got handouts and developers were given public land for fuck all.
castion5862 on
Surly the European market is big enough to be self sufficient without trade wars with the USA for the next four years until American comes to its senses ?
microturing on
It doesn’t matter, we would have just wasted the money anyway.
Exclamation_Marc on
A lot of these multinationals will want to retain their EU operations for a variety of reasons. So whilst they could repatriate, there’s a good chance that they won’t. We certainly shouldn’t have as high an exposure to them in any event.
Mundane-Inevitable-5 on
I keep hearing about all this tax money Ireland makes from American companies and how we’re so wealthy because if it.
Meanwhile I go outside, transport infastructure is a joke. Health service is a joke, housing stock is a joke, the vast majority of our energy comes from abroad. High prices for shit services and limited choice in every conceivable way etc etc etc
Where is all this money? I don’t see it. What exactly am I meant to shed a tear about if it goes away? A few less bike lanes and bike sheds? Cuts to a bloated civil service? A few less NGO’s? The threat that things can only get worse?
mcsleepyburger on
Cue all the geopolitical experts with the “Trump bad, EU good” take.
whooo_me on
Ireland’s also more or less the de-facto regulator for social media in the EU. We got teeth too.
TantiveRebel1701 on
‘Lutnick has singled out Ireland for criticism saying “it is nonsense that Ireland of all places runs a trade surplus at our expense”.’
I wonder what he means by ‘of all places’?
rossitheking on
lol Paschal and Simon pivoting strategy to try fear monger
Appropriate-Bad728 on
Do we have a state expenditure auditing agency?
If not. We need one.
pauljmr1989 on
How many bike sheds is that, give it to the people in a way that makes sense to them.
Sensitive_Guest_2838 on
No harm to beat some modesty back into this country
Seoirse82 on
We should use some of the recouped apple tax revenue to bribe him. It is basically what everyone else will be doing and we do have this windfall.
niallo27 on
Pharma need their base in the EU to sell to the EU. The MAH has to be in the EU. If they pull out then they cannot sell in the EU
22 commenti
>Ireland’s prime minister has said the country could lose €10bn (£8.35bn) in corporate tax if just three US multinationals were repatriated to America under a hostile Donald Trump administration.
No companies are getting repatriated to America.
What we could see is more US companies licking arse to Trump by sending more money back to the US and paying tax there instead.
I’m not getting this.
If trump puts huge tariffs on EU exports into America. What’s stopping the EU putting the same tariffs on American goods coming over here?
Am I missing something?
Does Trump understand that?
Just makes the holes in the manifesto even bigger.
Just shows how massively over reliant we are on FDI
If there was a strategy to what he’s planning then maybe I could understand but his plan seems to be blanket tariffs on everyone for everything which will severely disrupt trade and push all other countries close together going around the USA wherever possible.
Gonna be an interesting few years, possibly more with MAGA in charge over there 🤣🤣🤣🤣😅😅😅😅🥹🥹🥹🥹😮💨
10 Multinationals account for 60% of Ireland’s corporate tax receipts (€15.9B) which amounts to about 15% of our overall tax intake. Those 10 multinationals also provide a lot of high income jobs so provide a significant amount of our income tax intake too, especially when you consider that the majority of income tax is paid for by high income earners.
Could
We done this before with him, and exports to the US rose until 2019 despite tariffs and punitive laws against the EU. As soon as inflation rises again in the USA, and it will fast if tariffs for Canada and Mexico really are coming in January, companies will exit the even faster.
Shame we don’t have the houses for the US brain drain, should he really implement his economic “ideas”….
Been building higher and higher on quicksand instead of using this time to build solid foundations. All these corp tax receipts and piss poor infrastructure so if they’re gone we have fuck all to show for it. But hey at least landlords got handouts and developers were given public land for fuck all.
Surly the European market is big enough to be self sufficient without trade wars with the USA for the next four years until American comes to its senses ?
It doesn’t matter, we would have just wasted the money anyway.
A lot of these multinationals will want to retain their EU operations for a variety of reasons. So whilst they could repatriate, there’s a good chance that they won’t. We certainly shouldn’t have as high an exposure to them in any event.
I keep hearing about all this tax money Ireland makes from American companies and how we’re so wealthy because if it.
Meanwhile I go outside, transport infastructure is a joke. Health service is a joke, housing stock is a joke, the vast majority of our energy comes from abroad. High prices for shit services and limited choice in every conceivable way etc etc etc
Where is all this money? I don’t see it. What exactly am I meant to shed a tear about if it goes away? A few less bike lanes and bike sheds? Cuts to a bloated civil service? A few less NGO’s? The threat that things can only get worse?
Cue all the geopolitical experts with the “Trump bad, EU good” take.
Ireland’s also more or less the de-facto regulator for social media in the EU. We got teeth too.
‘Lutnick has singled out Ireland for criticism saying “it is nonsense that Ireland of all places runs a trade surplus at our expense”.’
I wonder what he means by ‘of all places’?
lol Paschal and Simon pivoting strategy to try fear monger
Do we have a state expenditure auditing agency?
If not. We need one.
How many bike sheds is that, give it to the people in a way that makes sense to them.
No harm to beat some modesty back into this country
We should use some of the recouped apple tax revenue to bribe him. It is basically what everyone else will be doing and we do have this windfall.
Pharma need their base in the EU to sell to the EU. The MAH has to be in the EU. If they pull out then they cannot sell in the EU