brexit donny t and tax

[john m]

Leo must be pissed off that there is no election Donny T just got the senate  to pass his tax law to cut the amount of tax american companies pay but they will now be liable for tax on any profits they make overseas so they cant avoid paying tax by saying they already avoided paying tax in Ireland. IDA will be begging the Chinease to come to Ireland to fiddle their tax now that the Americans cant fiddle their tax in Ireland anymore.I wonder if the EU supports Ireland on brexit will they expect a one for all aproach on tax in return .Donny T said he would sort out the dirty cheating Irish tax robbing scumbags and he just did .No real tax advantage for Apple or Google or Facebook to be in Ireland now .

[Taxi driver42]

We are fucked
Sell the family silver the recession is coming

[watty]

http://economic-incentives.blogspot.ie/2014/05/apple-beats-google-and-how-it-is-still.html

Apple, Google & Beats made their holding companies stateless to avoid paying reduce their tax bill.  I'm sure they'll interpret the new rules to suit themselves.  They answer to their shareholders, not to Trump or Leo.

https://www.benzinga.com/news/17/05/9515019/where-would-apple-and-google-rank-in-terms-of-worlds-richest-countries

Apple’s market cap is current just north of $796 billion, which would put it as the 17th most valuable country in the world, just ahead of the Netherlands, when compared to current World Bank data on global GDP.

Google would rank as the 19th most valuable country in the world, ahead of international finance hub Switzerland, at a $672 billion valuation.

Amazon.com, Inc. AMZN 1.22% would rank as the 25th biggest country in the world, just behind Poland, with a $467 billion market cap.

[Rat Catcher]

Rules are made to be circumvented. As Watty suggests, no doubt corporate structures will be altered to facilitate efficient tax planning.