Earlier quoted context omitted.
Doesn't Ireland have a graduated tax system?
Doesn't Ireland have a graduated tax system? According to Wikipedia, it does: http://en.wikipedia.org/wiki/Taxation_in_the_Republic_of_Ire... "The taxation of earnings is progressive" Which makes the OP's post rather confusing. Does any country out there not tax progressively? I just can't imagine it - "Great, you got a pay rise! Now you get to take home less, until your pay rises by another $5,000!" Edit: On second…
If the money does not actually leave the company and go into his pocket, the only taxes that would need to be paid are those (low) corporate taxes.
Of what value is money you can't have in your pocket and spend, of course, is an exercise for the reader, but presumably it could be paid out as personal income over a greater number of years (if the company survives that long) without ever paying $0.53/1.00 in personal income taxes on any portion of that money.