Friday 15 December 2017

Twitter Irish tax policy at centre of row


Twitter is the latest global business to be embroiled in controversy over its taxation arrangements in Ireland.

UK reports said the firm has filed small company accounts in Britain, reporting retained profits last year of just £92,408 (€107,331).

The Guardian newspaper said the abbreviated accounts suggest the company is using corporate structures in Ireland with the move meaning any resulting profits from these sales would not be subject to UK tax.

Meanwhile, in Dublin, it has emerged that almost one in three managers at US multinationals here was not satisfied with the Government's response to the controversy over taxation for global businesses, according to research from the American Chamber of Commerce in Ireland.

The organisation's president said international criticism of Ireland's tax regime was "unfair" and announced that US firms were currently recruiting for 1,400 job vacancies here.

"Ireland is not some kind of 'get-rich-quick' scheme for Americans," said Peter Keegan, head of Bank of America Merrill Lynch in Ireland and president of the American Chamber of Commerce here.

He said US Senator Carl Levin's allegation that Ireland was a tax haven involved some "political grandstanding".

According to yesterday's Guardian report, a spokesperson for Twitter in London refused to confirm that UK sales were routed through Ireland, noting the business was privately owned.

In a statement, the company said: "Since Twitter UK opened in 2011 we have been steadily building our team, focusing on promoting great uses of Twitter by all elements of society – arts, sport, government and brand partners."

The company said its Dublin office employed 100 people with 60 staff employed at its central London offices.

Irish Independent

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