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This is a shrewd move by Ireland. Multinational companies chose Ireland largely because: 1) Low tax basis 2) English speaking EU country 3) Part of the Euro
by JaakkoP 5y ago
This is a shrewd move by Ireland.
Multinational companies chose Ireland largely because:
1) Low tax basis
2) English speaking EU country
3) Part of the Euro zone (less important than #1 and #2 to be sure).
Given the OECD tax agreement there are fewer low-tax destinations for companies to pick from. And because of Brexit there are no other English-speaking EU countries.
Companies in Ireland aren’t going anywhere and it remains a pretty good option for any new HQs looking to expand into Europe. Ireland is just making more money off of each of them.
- space_rock 5y agoOf course. Cartels are always about reducing competition. Even if a cartel between countries like OPEC or this agreement. Irland just killed the competition
- bserge 5y agoCompetition killed itself a while ago. Wait, no, I think it's still bleeding out.
- legulere 5y agoThere’s still Malta with English as an official language inside the EU and Gibraltar is now part of Schengen area as a result of Brexit. Both are pretty small though.
- klausjensen 5y agoMalta is riddled with corruption and has no real banking options. It also has a very different legal system than IE/UK/US.
- tobylane 5y agoIreland has English style common law, familiar to Americans. Malta doesn’t.