Presumably related:
136 Countries agree to minimum corporate tax rate - https://news.ycombinator.com/item?id=28801599 - Oct 2021 (170 comments)
Ireland joins OECD International Tax agreement
291–300 of 384 posts
Re: Ireland joins OECD International Tax agreement
#292Earlier quoted context omitted.
Only if the joined countries don't implement some kind of differentiated tax on products and services commiting from outside the list.
If the earnings are attributed to the country of evasion, and it is secretive as they all always are, how does the country of residence even know or prove how much they need to tax. The pandora papers would not be so revealing if it wasn’t for the secrecy part.
They can add a new rate for products sold by companies in non-signing countries.
"Paying" £1,000,000 for intellectual property in the virgin islands? There's a 12.5% tax on that, not VAT, so no, you can't offset it, thanks!
Re: Ireland joins OECD International Tax agreement
#293My take on this is that Ireland is now willing to come into compliance because post-Brexit, they now have a monopoly on "urban core that could sustain an HQ for multinationals in a natively-English-speaking country in the EU." In other words, they relied on tax advantages as a differentiator for companies to choose Dublin over London for their EU HQ. But now, what would you choose if not Dublin? Obviously Paris and B…
Dublin is a beautiful city. It is very small though, compared to London. Imagine moving Wall St from NYC to Austin TX.
Dublin is also going through a housing crisis right now. The population grew 400k in the last 10 years and they built virtually no apartments.
Re: Ireland joins OECD International Tax agreement
#294Earlier quoted context omitted.
Here's a short list of things tax money funds: Roads Schools Healthcare (in civilized countries) Making sure companies selling medicine aren't killing people Making sure companies don't dump toxic waste into rivers and lakes Note that comparing Walmart vs the government is especially funny since most of Warlmart's expansion comes from the fact that it under-pays it's workers so much that the federal government has to…
Than can be done with less taxes than the average europeans one. It is also debatable which of the estates attributed roles can't be done better by private companies.
I can't seem to think of any instances where that is the case. So my conclusion would be that it can not really be done. Or can you give some pointers?
(not saying there is no room for improvement)
Re: Ireland joins OECD International Tax agreement
#295Re: Ireland joins OECD International Tax agreement
#296I have never understood the whole "tax the rich" idea and I am not rich, don't own a house or car or stocks or anything expensive. When and how will the taxes help you and me? The money just ends up going to a black hole for the government to spent inefficiently. And if you are in the US, the money gets spent on funding the military industrial complex for bombing more countries, regime changes, intelligence agencies,…
I am really surprised by the HN community. I wasn't expecting people to downvote an user who politely expressed his point of view just because theirs is the opposite.
You shouldn't be surprised. There've been plenty of examples of people stating facts germane to the topic and nevertheless downvoted because some folk don't like that fact being referenced. Be nice if they had to offer a reason for their downvote. Quite a lot of bigotry around.
Re: Ireland joins OECD International Tax agreement
#297Earlier quoted context omitted.
Why? This comment is not about Berlin or Paris, it is mentioning then as examples of non English speaking cities. Is the author supposed to mention every city in Europe?
The Netherlands has the highest English proficiency in the world [0] (among non-native speaking countries) so I imagine it would be a compelling choice. [0] https://www.ef.com/wwen/epi/
As someone who recently moved from the UK to Switzerland, I can attest that "English proficiency" isn't the main issue - it probably helps (it would be even harder to move to Japan where I couldn't talk to pretty much anyone, nor read anything), but the main issue is bureaucracy - everything is in German - forms, contracts, etc. - and some foreign documents have to be translated (they sometimes accept English documents, at least).
Re: Ireland joins OECD International Tax agreement
#298I'd like to see some domain experts chime in on whether CAIA neuters this headline, and whether Ireland will swan on down the road with multinationals continuing on as before.
Re: Ireland joins OECD International Tax agreement
#299My take on this is that Ireland is now willing to come into compliance because post-Brexit, they now have a monopoly on "urban core that could sustain an HQ for multinationals in a natively-English-speaking country in the EU." In other words, they relied on tax advantages as a differentiator for companies to choose Dublin over London for their EU HQ. But now, what would you choose if not Dublin? Obviously Paris and B…
Official Ireland were dragged into this kicking and screaming. There really wasn’t much choice involved - unless the OECD brass were thinking in generous terms towards Ireland. If anything I’d say the timing of this is in part what drove Brexit - this has been coming for a few years now and “City”* of London is one of the worlds biggest hubs for processing funny money. * This is the somewhat cryptic name for the fina…
It's not just a financial services enclave. The City of London proper is a whole other thing unto itself. For an interesting read, check out what it takes to become the Lord Mayor of the City of London. Quite a trip.
Re: Ireland joins OECD International Tax agreement
#300Earlier quoted context omitted.
Sorry, because governments spend money inefficiently we should just allow rampant corruption? That's an insanely fatalist view to take.
Government is the primary enabler of corruption in the first place. Don't know how it is in Ireland, but in the United States I can't really see it serving any other function at the moment. It abdicated all its responsibilities entirely, and for the past several decades it's been working only for its donors, not constituents. I would be surprised if Ireland is any better.
That is projection.
I think if you look around in the world you could see many countries where government works quite well, with little corruption, maybe a bit slow, yet offering services that are better and more efficient than businesses could. In the US people have been led to believe this is simply impossible.
Government may be the enabler of corruption but there is no alternative other than to fix it. Libertarians may believe you can mostly do without a government, but they are mistaken.