Mike Hunt is bringing down the MNCs from the inside.
Rage against the machine Mike 
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Literally “fuck you, I won’t do what you tell me”.
Actually they avoid paying a disproportionate amount of tax elsewhere, as you well know. We facilitate this. It suits both parties. At some point the yanks will pull the reins, or the EU will finally cotton on to paddy tugging the forelock and doing a jig whilst picking their pockets, but not today.
They pay a disproportionate amount of tax in Ireland.
The irony of ironies would be if he was working for a fruit based MNC.
Ireland’s high earners have doubled in number since pre-pandemic - they are now vital for income tax
So that’s SF’s tax policy in the shit.
Based on this;
- Of the €35bn in income tax and USC, €19bn is paid by those on over €100k
- Roughly €600m of €35bn is paid by people below €30k
- there is 1.6m tax units in the under €30k bracket, meaning they pay about €375 on average. There is 357k on the over 100k bracket, paying an average of over €50,000
- that means that for every €1 someone under €30k pays in tax, someone over €100k pays €142
This has all the hallmarks of a highly progressive tax system and it puts us only behind Switzerland in developed countries. But it has been cited as a major risk by fiscal analysts.
The SF policy is to raise a tiny additional amount by taxing a growing €100k bracket more and wiping out any taxes on the lower paid.
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Tim thinks that MNCs who funnel all their profits through Ireland should only pay the same amount,not the same rate, the same amount of tax as Irish SMEs. It’s the equivalent of getting a billionaire to pay 20k income tax a year because that’s what Joe Soap pays and it would be unfair to penalise the billionaire. It’s a strange take.
Perhaps he means they pay a disproportionate amount of the total tax received in Ireland? In which case he’s right, it’s like the good that lays the golden egg.
Sure the EU has been at us for years and we’ve won the argument.
That’s why I said “at some point”
Corporation tax as a % of tax income in Ireland is the highest in Europe. And by some distance.
Good for us.
It appears to be disproportionate but in reality it’s not. They pay fuck all. It looks big compared to Irish SMEs but then my arse looks big compared to the tax take of Irish SMEs. They funnel all their profits through here so of course the tax take looks big. Thats the idea behind the misleading stat in the first place.
As a proportion of what Ireland takes in it is disproportionate. As a proportion of their income, it is not.
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This is neither here nor there to your point. There is no more blood from the stone with regards to MNCs and Ireland’s tax take.
Michael Noonan did do some job all the same.
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There’s plenty more milk in that cow. She’s actually heaving she’s so heavy with it.
They’re here in probably significant part due to the relatively benign taxation system for them, and moreso, the flexibility within it, and the open ears of the politicians. This is a huge win win both for them and for Ireland. It won’t last forever, there’s absolutely no point in jeopardising the ecosystem.
At some point the yanks and the EU will pull the reins and we’ll see what happens.
It’s actually just straightforward generally in Ireland. Good infrastructure for starting a business, talent can be attracted here, laws are transparent, employment rights aren’t as ridiculous as mainland Europe…