Monday, October 20, 2014

Ireland and England Have New Tax Avoidance Strategy For Corporations

Europe has been trying to limit the ability of nations to compete against other nations by using friendly tax avoidance schemes.  Ireland is ending its "Double Irish" scheme for new firms but it and England have found a new way to race to the bottom.  They are both providing tax advantages to corporations based upon their intellectual property such as patents.  That is unfair to firms that do not have tax advantaged patents but it also shifts the tax burden to firms and individuals who are not in the intellectual property accumulation game.

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