Ireland is full of American multinationals who have their European headquarters here. If any of them were to trade with illegally occupied territories under the proposed and broadly supported "occupied territories bill" the fines would be huge and in some cases it would be difficult for those companies to avoid.

[–] unexposedhazard@discuss.tchncs.de 2 points 6 days ago* (last edited 6 days ago) (2 children)

Yeah i know that ireland is a tax haven, but why should ireland itself care about those foreign leeches? Its not like they would lose any tax income if the tech companies were to move away lol

[–] khannie@lemmy.world 6 points 6 days ago* (last edited 6 days ago)

Our tax haven status is gone. We signed up to the 15% minimum OECD corporate tax rate along with a bunch of others. There are other European countries with a lower tax rate now (Hungary for example).

Those massive companies account for a very high percentage of our employment and tax take unfortunately.

[–] jonathan@piefed.social 3 points 6 days ago (1 children)

We'd lose a whole lot of income tax/prsi, which is the government's largest funding source.

[–] unexposedhazard@discuss.tchncs.de 4 points 6 days ago (1 children)

https://www.rte.ie/news/business/2023/0824/1401458-35-of-corporation-tax-collected-comes-from-ict-sector/

Its Annual Taxation Report, published this afternoon, says the ICT sector now accounts for 35% of the corporation tax collected and around 10% of income tax revenues.

Damn its actually more than i thought

[–] jonathan@piefed.social 1 points 6 days ago

PRSI is about another 2%.