Latest news with #corporationtax
Bloomberg
29-05-2025
- Business
- Bloomberg
Morgan Stanley Denies Dutch Prosecutor's Tax Evasion Allegations
Morgan Stanley denied allegations by the Dutch Public Prosecution Service that it evaded tax on almost $1 billion worth of dividends more than a decade ago. According to the Dutch Public Prosecution Service, an Amsterdam-based subsidiary of a foreign bank filed five corporation tax returns between 2009 and 2013. The returns offset €124 million ($140 million) in tax relating to a total of €825 million in dividends paid on listed Dutch shares, the public prosecution service said in a statement Wednesday without identifying the bank. The prosecutor holds the European parent company and an employee involved at the time responsible.
Times
06-05-2025
- Business
- Times
Foreign firms can't fuel the public spending machine for ever
T he extent of Ireland's dependence on foreign direct investment is extraordinary — and in the current climate frightening. According to recent research from the Irish Fiscal Advisory Council (Ifac), in 2023 foreign-owned multinationals accounted for 84 per cent of all corporation tax revenues. That means that Irish-owned enterprises accounted for a paltry 16 per cent. According to the Ifac research, corporation tax revenues are highly concentrated, with just three firms — Alphabet (Google), Apple and Microsoft — estimated to account for 38 per cent of corporation tax receipts in 2023. It is reckoned that less than 15 per cent of the workforce was employed by the multinational sector at that time. Yet, thanks to the highly progressive nature of our income tax system and the
