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ToastofScotland - Ireland's use of SPVs is scandalous and Ireland is a tax haven. The amount of money - trillions, in fact - which passes through their shadow banking is completely and totally immoral and it's a race to the bottom when you start offering companies those kind of rates. It allows companies to dodge paying any real tax and it harms the country they are making their money from and allow far too much capital - legal and illegal capital - to be moved from the host country.
The only people in Ireland that benefit are the shareholders, lawyers and consultants who make hundreds of thousand of euros in fees, while other countries end up with fiscal deficits, and less money in the real economy.
The only way to stop this happening to have tax harmonisation across the EU or we end up with shadow banking sectors like in Ireland. If you honestly think it would make Scotland a better place, you're literally fucked in the head. |
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