Dutch MEP Paul Tang, a rapporteur on European tax policy, appeared before the Oireachtas finance committee and said Ireland has not taken into account the impact its corporate tax rate has on its European partners
He described countries like Ireland and Luxembourg as “tax pirates” because of tax measures taken to attract multinational companies: “A small country like Ireland has more foreign investment than Germany or France — that’s weird.”
Ireland’s investment is down to “loads of paper constructions” to avoid taxes, he said. Big corporations “pay hardly any tax”, he said, and have avoided €5bn tax in Europe: “It’s about fairness. Where they generate profits is where they should pay taxes.”
He described the tax arrangements of multinationals as “paper constructions to avoid taxes”. They don’t affect the “real economy, or jobs or factories”.
The problem is that it is not known what the impact such tax rates have on other countries, said Mr Tang: “Ireland doesn’t take into account the impact of its actions on its European partners. My claim is that you’re stealing the tax base from other countries.” (more...)
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