Thursday, March 15, 2018

Luxembourg blasts rate of corporation tax in Ireland

accountability transparency offshore business finance tax evasion money laundering politics

Speaking following a meeting with Taoiseach Leo Varadkar, prime minister Xavier Bettel took aim at what he saw is the unlevel playing field in tax rates in some EU countries.

Without directly referencing Ireland’s 12.5% corporate tax rate, Mr Bettel said it is politically untenable to have workers charged up to 45% in tax when companies pay little or no tax at all.

“The fact is, competition is good but it must be fair,” he said. “Competition is good within the EU. I prefer to have my competitor in the EU. It is important to have a level playing field and an international level playing field. This is the most important topic.

“Neither the Irish or Luxembourg accepts that a company pays no taxes. The fact is we want fair competition between countries. We don’t want to be harming Europe. How should I explain to someone working eight hours a day paying 45% in tax at the end of the month when another company is paying no taxes. In the end I will have political problems if I support the view that some companies should pay no taxes.”  (more...)


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