David Murphy , RTE business correspondent writes:
The Irish are slipping into bad company. Tax on profits is 12.5% in Ireland. There are limited write-offs which allow companies to reduce their tax bills to an average effective tax rate of 11.9%, says Enterprise Minister Richard Bruton.
But some US multinationals are paying far lower rates. The reason these companies can build such aggressive tax avoidance strategies is because they exploit agreements between Ireland and other countries
…The authorities here are trying to convince other countries that Ireland is a low tax environment – not a tax haven. It is an important distinction. If all the US multinationals were paying 12.5% corporation tax there would not be a problem. But they are not.
The unanswered question is whether closing the loophole could result in some US multinationals quitting Ireland. If some did leave, it would mean the constant refrain that they came to Ireland because of our “young educated workforce” is hokum.
Why Ireland Cannot Allow Multinationals Exploit Tax System (David Murphy, RTE)
Previously: How Google’s ‘Double Irish’ Tax Scheme Works
The Double Irish Arrangement?
The Lion Monument in Lucerne, Swtizerland – designed by Bertel Thorvaldsen and sculpted by Lukas Ahorn in 1820-21 – commemorates the massacre of Swiss Guards in 1792 during the French Revolution during the storming of the Tuileries Palace in Paris.
In his 1880 book A Tramp Abroad, Mark Twain called the work ”the most mournful and moving piece of stone in the world.” He continued:
The Lion lies in his lair in the perpendicular face of a low cliff — for he is carved from the living rock of the cliff. His size is colossal, his attitude is noble. His head is bowed, the broken spear is sticking in his shoulder, his protecting paw rests upon the lilies of France. Vines hang down the cliff and wave in the wind, and a clear stream trickles from above and empties into a pond at the base, and in the smooth surface of the pond the lion is mirrored, among the water-lilies.
Around about are green trees and grass. The place is a sheltered, reposeful woodland nook, remote from noise and stir and confusion — and all this is fitting, for lions do die in such places, and not on granite pedestals in public squares fenced with fancy iron railings. The Lion of Lucerne would be impressive anywhere, but nowhere so impressive as where he is.
From The Gift Voucher Shop:
A baseless rumour that The Gift Voucher Shop (GVS), a subsidiary of An Post, is experiencing financial difficulties is totally without foundation and untrue.
In 2012, the company recorded a 14% increase in annual turnover to over €150 million which follows similar double digit growth in each of the past five years and it is on track for continued growth this year.
GVS would like to assure all its customers that One4all Gift Cards and Vouchers continue to be fully redeemable in over 5,300 retail outlets nationwide.
Thanks Kiera Doyle
Today’s Document sez:
A copy of James Joyce’s Ulysses, with Ernest Hemingway’s signature. From the Ernest Hemingway Collection at the John F. Kennedy Library.
An archival note mentions that the pages of the book are ‘uncut’, meaning that Hemingway may never have read it.
Unlike the rest of us.
Also: some neck.
Minister for Health Dr James Reilly and the Chief Medical Officer Tony Holohan with Minister for Children and Youth Affairs, Frances Fitzgerald launching a ‘shock’ anti-smoking drive this afternoon.
From tomorrow, cigarette packaging must display graphic photographs depicting the potential negitive health impacts associated with smoking.
Wait until they go after obesity.
(Sam Boal/Photocall Ireland)
Thanks Jenny Reilly
Browne meme generator here
Adopted from Vietnam 21 years ago.
Off to find her birth parents.
I was adopted from Vietnam at a very young age and brought back to Co Kerry at six weeks old. I’m Irish.
I’ve little information on my birth mother or family. All I know is that she was too young to look after me at the time – and I’m very ok with that. I’ve no resentment or anger, I suppose you could say that I understand to some extent.
…For some reason I feel like this is the year and if I don’t leap out and do something I may regret it forever. A dramatic statement you may think, but feels true…
Looking For My Birth Parents In Vietnam (UnaKavanagh)
Thanks Cathal O’Rourke
From top: Fitzwilliam Street, Harcourt Street and Stephen’s Green, Dublin, minutes ago,
Thanks Sarah, Tom Rogers and Ken Walshe