2021-04-19
@ballyhea14 @ciananbrennan What is obscene? A company in Ireland uses technology developed elsewhere and pays for the right to use that technology. Is the principle of paying for something someone else developed obscene? Or is the scale obscene given its such a massive company?
RTÉ
Newly filed Google Ireland Holdings accounts show $75B+ in profits moved through the subsidiary in 2019, the last year Google used the “double Irish” tax scheme
Will Goodbody / RTÉ :
@ballyhea14 @ciananbrennan Google as a whole made a massive pre-tax profit of almost $40 billion in 2019. Maybe that's obscene. The overall accounts also show that it paid $8.2 billion of corporate income tax in 2019. This corresponds so the 20% rate quoted in the piece. https://twitter.com/...
RTÉ
Newly filed Google Ireland Holdings accounts show $75B+ in profits moved through the subsidiary in 2019, the last year Google used the “double Irish” tax scheme
Will Goodbody / RTÉ :
@ballyhea14 @ciananbrennan And for what it's worth the company in Bermuda didn't get the technology for free. In 2019, it paid $14.1bn to the US parent (out of revenues of $26.5bn) as part of the licensing arrangement to get the rights to Google's technology. And the residual profit was subject to US tax. https://twitter.com/...
RTÉ
Newly filed Google Ireland Holdings accounts show $75B+ in profits moved through the subsidiary in 2019, the last year Google used the “double Irish” tax scheme
Will Goodbody / RTÉ :
2020-12-31
Here's the 2019 outcomes for Facebook Inc. Yes, foreign tax as % of foreign profit is low. But US tax (federal + state) as % of domestic (i.e. US) profit is 92% ! Most “foreign” profit is actually in US tax base and it's US tax that is due. The overall effective tax rate is 25% https://twitter.com/...
Wall Street Journal
France says it has resumed collecting its digital services tax, as the UK and Italy prepare to collect their own; France's 3% levy brought in €400M in 2019
Wall Street Journal : Tweets: @seamuscoffey , @linuxbsdpirate , @seamuscoffey , @conoraon , @wellisz , @neilretail , and @samschech Tweets: Seamus Coffey / @seamuscoffey : Here's ...
@conoraon Yes, in most cases the location of customers has no bearing on profits so isn't a factor for allocating taxing rights. But for online advertising a key asset is the user data the firms have that they use to target ads etc. The location of the eyeballs matters.
Wall Street Journal
France says it has resumed collecting its digital services tax, as the UK and Italy prepare to collect their own; France's 3% levy brought in €400M in 2019
Wall Street Journal : Tweets: @seamuscoffey , @linuxbsdpirate , @seamuscoffey , @conoraon , @wellisz , @neilretail , and @samschech Tweets: Seamus Coffey / @seamuscoffey : Here's ...