How Ireland's Tax Loophole Actually Work

Ireland is a country that once became an international tax haven famously known for helping Apple, Google, and formerly Facebook to avoid $28 billion in taxes combined.
This tax scheme is also the main reason why Ireland has the highest GDP per capita number in the world, although anyone living there will tell you that this GDP number is just an illusion, simply because those trillions of dollars are only sitting in the bank account rather than used for building infrastructure, research and development, or upgrading public services like healthcare and education. You know, things that are necessary to build a prosperous economy.
But, how did Ireland’s tax loophole actually function? How did it manage to attract some of the biggest companies in the world? And how did all of this have people actually believing that Ireland is the richest country in the world? This is how Ireland’s tax loophole actually work.
Source:
www.imf.org/ex... Ireland GDP per capita (IMF)
www.investoped... Double Irish
taxjustice.net...
www.fiercephar... AstraZeneca
epic.org/docum... Apple and FBI
www.ft.com/con...
Music by Epidemic Sound
Stock Footage by Storyblocks
#Ireland #Finance #Doverhill
about economics explained, about Finance and how money works, on Ireland's tax haven and how it actually work, This is an economics/finance video

[@gtmoore380]

You have given one of the best explanations of the double irish tax loophole I have seen, coming from an Irish person here.

[@openureyes]

This is absolutely correct as an Irish person the Irish government bends over backwards to make big technological and big pharmaceutical happy while making its working class bend over backwards to make our government happy it's outrageously expensive to live in Ireland we have the highest car ,petrol and diesel prices food,housing, electricity, national gas, just about everything, our young people have no choice but to leave unless they want to live a life here struggling to make ends meet

[@wafercrackerjack880]

Why won't your government do that? The citizen is not innovative, not motivated to create their own big companies. Vast majority of your imports are from big multinationals. Im an immigrant here and that's why I know all of these. The only reason Im staying here (bought a house even though Im only here for only 3 years, housing crisis do not affect highly skilled and motivated workers like me) is because of those multinationals. The Irish, if let alone, is backwards and unremarkable. You want your government to not rely on those multinationals? Then start working properly.

[@prophetseven728]

It a 3rd to 4th less than here in the States. Try having our insane backward government in America. Dems are ruining everything. Prices have gone insane! biden is the worst president we ever had. Even though gas in Europe is expensive. Our jumped in 3 years to Triple the cost. Imagine if yours did the same in such a short period of time. And we have one of the Largest Oil Reserves in the United States.

[@declanmcardle]

You should post the GNI figures as that's more representative regarding what people really get paid - and post median, not mean.

[@romulus1136]

This Channel is so underrated ✋🏻

[@KEEVVY]

So why now irland wants to tax youtubers from other country, same for youtube, why the companies don’t pay the tax because they take almost half even from kids, like if a kid makes those 100$ US & Ireland wants a cut

[@RazorMouth]

Very simplistic, for a start an iphone sold in Europe pays VAT to the country its sold in which makes up most of the tax these companies generate for countries. It's only overall profits that sits in Ireland and yes we're not the tax collector for the world we tax their profits acording to their Irish linked operations just like any other country. Which is why when the EU took Apple to court, the EU lost. Dont blame us for following the rules.

[@bigyokes4747]

The reason the EU lost in court is due to them getting involved in an Irish tax dispute. The EU doesn’t have any legal rights in regards to a states tax related laws.

[@RazorMouth]

@@bigyokes4747 yes it does, what do you think "level playing ground" means? They have no power to set our rates but there are many other areas of EU legislation that touch on tax fairness etc.

[@bigyokes4747]

@@RazorMouth I’m honestly starting to believe that you are a state and or corporate run account on youtube. I have seen you several times now on videos concerning MNC shenanigans in Ireland. Always defending them. I’ve never seen anything like it. Your point about VAT is ridiculous, as if to say that when the common joe pays VAT when buying an iphone, we should be in some way grateful to the corporation for it. We’re certainly not the tax collector for the world. But nor should we be the tax evasion enabler of the world. The EU doesn’t have the right to set Irish tax rates, nor do they have any meaningful power over anything beyond to some extent, ensuring a competitive landscape for all involved. Which I’m sure you would love to see eroded further. So that Apple can continue to fleece us and the rest of the world.

[@bigyokes4747]

@@RazorMouth everytime I reply to this comment, it is deleted. Stop trying to shut down discourse. It is the tap from which the built up pressure is released. Continue to do so at the behest of your corporate and state masters and you and your ilk will know true fear.

[@RazorMouth]

@@bigyokes4747 go have a lie down will ye 🙄

[@svart7716]

Ireland may have a high GDP per capita. But it doesn’t produce anything..

[@9mrrob]

Of coarse they produce stuff 😅

[@RazorMouth]

Ireland per capita is the largest exporter of "goods" in Europe and third in the world. You haven't a clue or you're just lying.

[@svart7716]

@@RazorMouth be polite! Can’t accuse of people as clueless or lier via social media. They don’t produce anything of value. Just give me a name of a famous Irish brand(not whiskey)

[@ronanfitzpatrick1261]

​​@@svart7716You mean like Guinness, Fyffes Bananas, Stripe, CRH, Ryanair and so on? Most Irish brands get bought up by larger companies once they go international. I've worked for several software firms where this happened. Also just because Intel, for example, isn't an Irish brand doesn't mean that their chips aren't made here. Not sure where on earth you were going with that point. There's entire KZbin videos out there explaining Irelands decision making when it comes to production: High Value, with raw materials that are cheap to transport since most have to be imported (microchips, software, pharmaceuticals and so).

[@svart7716]

@@RazorMouth in that case I don’t have a clue. Buy you should be ashamed of yourself calling somebody you don’t know a liar. Ask anyone in the world if they know any famous Irish brand they wouldn’t know any..