I was delighted to note the Irish Times reporting that:
The United Nations is to examine whether Irish policies contribute to tax abuse by companies that harms children's rights in other countries.
As they added:
Campaigners welcomed the move, arguing that “morally indefensible” Irish laws enable profits to be shifted from the developing world, damaging children's rights.
They noted:
It is the first time tax has been included in a review of Ireland's compliance with the UN Convention on the Rights of the Child (UNCRC). The treaty obliges Ireland to avoid policies that undermine the human rights of children at home or abroad.
As an old friend of mine commented:
Sorley McCaughey, head of policy and advocacy at Christian Aid Ireland, said that while Irish tax incentives attract investment, “they're not without consequence. Ireland's aggressive tax policies allow tax avoidance, and it's often developing countries that suffer most”.
I agree, and am pleased that:
Ireland has been asked to outline measures which “ensure that tax policies do not contribute to tax abuse by companies operating in other countries, leading to a negative impact on the availability of resources for the realisation of children's rights in those countries”.
The move is a success for tax campaigners, As The Irish Times notes:
The UN made the move after a submission from a group of Non-Governmental Organisations (NGOs), including Christian Aid Ireland, the Global Legal Action Network (Glan), Oxfam Ireland, ActionAid Ireland and the Tax Justice Network.
Good work by all involved, I say.
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Interesting…Nicholas Shaxson’s book “The Finance Curse” identifies Ireland as one of the conveyor belts of global wealth extraction.
And TJN made the complaint
He works for TJN
The tax diverted to Ireland by game-playing corporations is principally American
http://economic-incentives.blogspot.com/2018/06/who-shifts-profits-to-ireland.html
Ireland is not going to make unilateral changes that simply reduces its own ability to attract investment. It has already committed to multilateral action. Pity the UK has opted out of the EU, one of the most important forces for reform, and remains an absolute sinkhole for dirty money from impoverished countries.
Shouldn’t similar criticism be directed at the UK and its extensive network of tax havens?
I assure you, that remains in sight
I remember spending a lot of time in Eire in the 1990s, and I was struck by how many new McDonalds and even the CIE buffet car on a train from Dublin to Cork was ran by what were basically children – I mean REALLY young people, much younger than you would expect to see in England at the time, where it was Africans and then East Europeans who dominated employ in these outlets during that period.
At the point when it accepts the stock is underestimated and trusts it can bring in cash by putting resources into itself. This can occur in an assortment of circumstances. For instance, if an organization has endured some diminished profit on account of a characteristically repeating industry, (for example, the semiconductor business), and accepts its stock cost is outlandishly low, it will repurchase its own stock. On different events, an organization will repurchase its stock if speculators are driving down the cost steeply. In this circumstance, the organization is endeavoring to impart a sign to the market that it is idealistic that its falling stock cost isn’t advocated. It’s expression: “We know more than any other individual about our organization. We are repurchasing our stock. Do you truly figure our stock cost ought to be this low?”
I admit I have no idea what the relevance of this comment is