Because weāre putting all our eggs in a basket thatās gonna one day have a big hole in it. We should be world leaders in bio products. We should be selling our colleges to students all over the world as centres of literary excellenceā¦ Christ, we donāt know how to sell ourselves at all. Yanks, Japs, Europeans coming here to fund our colleges to study Joyce, Yeats, Heaney, Bono.
SMEs are on the same corporation tax rate and credits system as the MNCās so Iām not sure how you make out that theyāre fleeced by tax while MNCs make out like bandits.
The OECD reckons the effective tax rate paid by companies in Ireland is 12% so pretty close to the actual rate.
MNCs pay about ā¬7bn/yr in corporation tax which equates to 65% of the total Irish corporate tax take or about 13% of the total tax take (including income tax, VAT etc) in the country. Clearly there are a large amount of additional economic benefits to the country too in terms of jobs, other tax revenue, support for SME businesses etc.
How much do you think they should be paying instead?
This always makes me laugh
Lads banging on about corporation tax for the multis. I think a lot of them get confused by the term ācorporateā and automatically identify it with the foreign national firms as it tends to be used in conversation a lot more often across the big pond.
Ireland has close to the highest average per capita income in the EU, and lads want to go back to the glory days when it had one of the the lowest and half the country had to emigrate.
Donāt know details of knowledge box . I do know that a R&D tax credit is available to all companies and is particularly useful to small companies as if youāre not profitable they give it to you in cash