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Posts tagged ‘Tax’

The Innocence of Double-Irish

English: Arms of Ireland depicted as a banner ...

English: Arms of Ireland depicted as a banner and in a manner like during the Kingdom of Ireland period. Based on File:Arms of Ireland (Historical).svg (Photo credit: Wikipedia)

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Irish corporate tax policies issues have now penetrated (agt last) into the RTE newsflow – link here.  Of course, the most priceless reaction is, surprise, surprise, via our Minister Noonan:

“In the Dáil in recent weeks, Finance Minister Michael Noonan said: “The problem with the so-called ‘Double Irish’ from Ireland’s point of view is that it has that name. People think that something we do here gives rise to it. That is not the case.” Mr Noonan blamed tax codes elsewhere, including the way the US government treats certain tax arrangements.”

Yep, folks, that’s right, Irish law allowing dodgy entities set up off-shore to be tax exempt is, apparently, not Irish problem. Serves those Americans right, then…

full article at source: http://trueeconomics.blogspot.de/2013/02/122013-innocence-of-double-irish.html

Ireland a place to dodge taxes ???

By Marketwatch

The U.S.-Bermuda-Ireland triangle includes others. Ingersoll-Rand /quotes/zigman/556949/quotes/nls/ir IR +3.39%   is another example of a company that left the U.S. for Bermuda and subsequently relocated to Ireland, a move that clearly has nothing to do with the weather.

While Bermuda had been a comfortable tax haven, Ireland now is apparently an even better one, with all sorts of advantages offered to international holding companies.

While this exodus to Ireland might rile taxpayers and politicians in the United States, it’s probably even more alarming for the authorities in Bermuda.

But it’s great news for the Irish, who need all the help they can get rebuilding their shattered economy following the 2008-2009 collapse of their housing and banking sectors

full article at source: http://www.marketwatch.com/story/when-bermudas-too-pricey-theres-always-ireland-2012-05-21

Comment:

So international companies can come into Ireland and dodge their taxes in their own countries but the Irish citizens are been squeezes for every penny as they pay  back the gambling debts of faceless bondholders .perhaps the same people who are large shareholders of the very same companies that are now being subsidized by the Irish taxpayers ! Talking about dumb when will  Irish taxpayers wake up and put an end to this triple taxation ???

Charge of the Lie brigade

That’s what it says on the final reminder to pay your Household Charge (the new property tax being introduced here in Ireland). They manage to combine meaningless bullshit, calculated deceit and veiled threat all into one brief phrase. That shows flair.

Don’t pay the charge and your neighbors suffer, it seems to say. As if central government is lowering its funding to local authorities by precisely the amount the household charge should raise. Of course, central funding for local spending will be reduced by far more than the household charge was ever going to raise – even if everyone could pay, never mind will. The shortfall will eventually be made up by allowing local authorities to raise the charge. So central government can keep lowering its contribution, effectively raising taxes while avoiding blame.

Neat.

source: http://i.doubt.it/2012/03/27/charge-of-the-lie-brigade/

Comment:

This Poll tax is nothing short of state sponsored extortion, racketeering and state bullyboy tactics now seem to be the order of the day! You have got it in one ,the gangsters and sell-outs in the current government, whom by the way, have abandoned their duty to uphold the interests of the Irish people, have instead allied themselves with the ever increasing dictates coming from “our friends” in Berlin)

These gutless politicians are using this as an excuse to starve the local councils of funds and shove the dirty work(of tax collection) on to the shoulders of council workers by making them call to citizens doors “reminding” them to pay this unjust poll tax. This is just the start of an ever increasing annual tax that home owners can look forward in the future. All taxes that are raised are going towards the interest payments on the private debts that were foisted on to the Irish citizens.

These debts may I remind everyone  are private bank losses “Odious Debt” that the Irish taxpayers have no responsibility for .The blatant blackmail of our country be the servants of Deutsche Bank in the ECB have ensured that our small country will have to endure a generation of financial slavery as a result of our gutless politicians and their absolute betrayal of their constitutional duty to put the interests of the people of Ireland before the interests of Berlin and its banker dictatorship.

This Government has no right to impose this odious debt on to the Irish Nation and they certainly do not have the right to impose unjust taxes on behalf of foreign interests that are destroying the very fabric of our communities .We need to come together and fight for our rights enshrined in our constitution!

Can Ireland improve its competitiveness while raising taxes?

By Ronan Lyons

if you were looking for just two indicators to summarize how Ireland’s economic model of the 1990s, based on international competitiveness and fiscal rectitude, became perverted in the 2000s, the following two would be the ones that I would use. Firstly, according to OECD figures, the average wage in Ireland grew by 37% between 2000 and 2006, while in France and Germany, the anchors of the Eurozone, average wages grew by 15% during the same period. Secondly, while the typical two-income, two-child household in France paid over a steady 22% of their income in tax during the 2000s, and their German counterpart paid one third in tax, by 2006 their Irish counterpart was paying barely 10% in tax.

full article at source:http://www.ronanlyons.com/2011/11/01/can-ireland-improve-its-competitiveness-while-raising-taxes/

Irish GNP projections under new US tax proposals

Have a look at this excellent article from

by Dr. Constantin Gurdgiev

Much ignored by irish media so far, the US Congressional proposals to reform corporate tax system are gaining

speed and have serious implications for Ireland. In the nutshell, today, US

House Ways & Means Committee Chairman Dave Camp described some of his report

proposals (see Bloomberg report here),

which include:

  • Lower corporate tax rate to 25 from 35%

  • Exempting 95% of overseas earnings from US tax

  • Introducing a tax holiday on repatriated profits

For US MNCs operating in Ireland this will serve as a powerful incentive to
on-shore profits accumulated in Ireland. While the full impact is impossible to
gauge – it is likely to be significant, running into 50% plus of retained
earnings.

This will, in turn, translate into higher Net Income Outflows from Ireland
(see QNA) and thus directly depress our Gross National Product.

full article at source:http://trueeconomics.blogspot.com/2011/10/26102011-irish-gnp-projections-under.html

An Open letter to Michael Noonan

 

sent in to me to-day

By Dave Morrissey

Dear Michael Noonan,

 I read your comments on the Keane Report this week and how this glorious
new modern fairy tale will help families ‘break shackles’ of debt. I can only
assume that you did a Cowen and skipped over the report because you obviously
have no idea whatsoever about the plight that families find
themselves in.

Let me say straight off, I do not have a family of my own so there are no
little ones to worry about. And I didn’t buy at the height of the boom – I’ve
been living in a 2-bedroomed apartment since 1999. Neither did I buy an
investment property (or two) in my own or any other country. I have the one
home, that’s it. I do not have a 52″ plasma screen above my fireplace,
designer furniture with colour matching curtains; I do not even have a car
anymore, I had to give that back to the bank in February; I do not have health
insurance, my pension is on hold indefinitely, my phone line no longer exists
and I had to start selling off personal possessions for a pittance. I don’t
have a job either. I am technically self-employed but when there is so little
work out there, the only interest I have is in how far that money will go to
keep me alive, not how much of it I will give to a corporation. When no work
can be secured, no money can be pulled in because our fantastic system doesn’t
reward failure and self employed people receive no social welfare. So if I
don’t get any work, I don’t get anything.

So as you can see, I have had to undergo my own set of austerity measures
outside of the bigger ones you are planning to inflict on the nation in a few
weeks. And yet your comments on the Keane Report still made me angry. In case
you’ve forgotten what you said let me give you a little jolt:

“There would be some cases
where people would not be able to remain in their homes, saying it would “not
be in the interests of the taxpayer”.

Fancy language there Michael, did you actually say that? Tax payers are
people in case it slipped your mind. Or are people now JUST tax payers? Or is
there a distinction that must be made? Do people suddenly change into just tax
payers when they become 18? Let me tell you I resent being referred to as a
‘tax payer’ because the last time I checked, I was a flesh and blood human
being. This is obviously an attempt to divide us into two separate factions. Oh,
but of course you’ve already being doing that by pushing this division of ‘can’t
pay/won’t pay’
. It’s terribly transparent Michael and a lot of us
can see through it no matter how many times you try and brand some people.

So Michael, your esteemed Keane Report does not cater for me so it looks
like I’m going to be one of those who will not be able to remain in my home.
After all, I’ve stopped contributing to the banks welfare and therefore I must
be punished with eviction. But wait…the structure of my apartment is sound,
there are no defects, the neighbors know me as a kindly, positive individual so
I’m not a trouble maker, I don’t see the walls or ceiling falling in, the place
is not a fire hazard. Yes, the apartment is definitely 100% structurally sound.
Yet, I cannot remain in my home?

So Michael, explain the logic of why I must leave my home. And
while you’re at it, explain how it has become acceptable to sacrifice people’s
lives to feed the bankers greed. Explain how you can make a statement like the one
above where there seems to be some acceptable level of ‘collateral
damage’
.

When did people become expendable Michael?

That’s exactly what you have said this week and it astonishes me that you
have been let away with it. When you place bank welfare above even one
individual then you have failed every single individual.

Well I’m calling you out Michael. I want YOU to look ME in the eye and tell
me that I can no longer stay in my home. I want YOU to tell ME face to face
that you have my best interests at heart. I want YOU to assure ME 100% that my
well being comes before that of any bank or corporation. And I would like
answers to those questions to be free of statistics and double-talk. I’ve been
totally straight with you, I expect the very same back and nothing less.

Who do you work for Michael?

I should clarify for the record that I am NOT going to leave my home. I
will NOT just hand back the keys, I’m not leaving! I do not accept that
eviction, or, let’s call it for what it is – forced removal, is something that is inevitable. The whole idea of eviction, even down to the removal of one single individual is abhorrent and anyone who countenances such an action should not be allowed to represent the Irish people.You are great at fighting the bank’s corner, we see it every single day. You will very soon be called to explain to the Irish people why you are failing them on an ever increasing level at a faster rate as the days go on. In fact I
am doing just that. I demand answers and am holding you to account.

This letter has been sent by registered post. I will know when it has been
received by your office. I want a response by November 14th, by YOU, in plain
English. I do NOT want a generic piece of rubbish written by and signed by
someone in your office on your behalf. Should there be no response from you, I
will forward this letter to as many media outlets as possible.

It’s up to you Michael. I will not be fobbed off and I will not put up with
double talk any longer. I am sick and tired of the likes of you talking at me
and telling me there’s more pain on the way while the banks are catered for at
every turn. It’s time to cut the crap! I suspect I will not be the last one to
start fighting back, I suggest you start getting your house in order, and
quickly.

Sincerely,

David

Ronan Lyons on Michael O’Leary’s suggestions to quit Ireland

Ronan Lyons has posted a new item, ‘Should we let Michael O’Leary run our income
tax system?’

This post examines Michael O’Leary’s suggestions in relation to Ireland’s
income tax system,
in particular making it simpler and ensuring everyone
contributes but not too much! It uses recently published Revenue Commissioners
figures for income in 2008 to estimate who would like the proposal and who would
hate it, Government included. It concludes with a few tweaks to the proposal,
including in relation to income earned through social welfare.

full article at source:http://www.ronanlyons.com/2011/08/23/should-we-let-michael-oleary-run-our-income-tax-system/

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