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If Ireland wishes to make themselves a tax haven, then the US has very little influence over that. But for anyone to claim that Ireland would experience this s
by british_india 10y ago
If Ireland wishes to make themselves a tax haven, then the US has very little influence over that.
But for anyone to claim that Ireland would experience this sort of growth without being the go-to tax avoidance location for the likes of Google, Apple, Facebook and fill in the blank--is ridiculous on its face. Through the phenomenon of "income stripping" these tech companies essentially gift their IP to their Irish subsidiaries and then the subsidiary charges the parent company to use that IP, thereby stripping the parent company's earnings from the US--where the companies are actually located--to these tax havens.
In case you've been living under a rock you would know that Facebook has been fighting a lawsuit from the US treasury since 2010 over this exact situation.