Opinion Can someone explain the tax changes to intangible assets in the Budget?

Discussion in 'Budget 2018' started by Louis, Oct 23, 2017.

  1. Louis

    Louis Frequent Poster

    Posts:
    6
    Seamus Coffey has an article here which I don't understand

    http://www.irisheconomy.ie/index.ph...s-and-irelands-contribution-to-the-eu-budget/

    The numbers are absolutely huge.

    US multinationals will make 40 billion euro in profits from these next year.

    They will pay 150 million in tax

    But these profits will push up our GDP and we will end up paying 200 million euro more to the EU because our GDP is inflated.

    But I am lost in this bit except it seems to say that we could get €1 billion in tax revenue next year instead of €150million.

    "If the cap applied to all claims, existing and new, then the additional Corporation Tax to be collected in 2018 could be up to €1 billion using the 2015 figure published by Revenue and estimates from that time used by Finance."


    Louis
     
  2. Xinran

    Xinran New Member

    Posts:
    1
    I think it means €1 billion could be collected if the cap applied to both existing and new IP, but acutally the cap would only apply to new IP according to the Budget, which means only 150 million would be collected.