1. Not organising a charity gig to raise money for starving bankers and forcing the people of Ireland to bail them out instead.

2. Wishing that it would be better if the Africans paid up instead “But tonight thank God it’s them, instead of you.”

3. Threathening me without ANY provocation: “I will be with you again. I will be with you again. On New Year’s Day.” Feck off.

4. Failing to make the BBC ‘Most Annoying‘ list of 2010. Can ya do nothing right, ya eejit ya?

The low tax rate and Ireland’s relaxed transfer pricing rules have encouraged the use of Ireland in international tax planning.

Have you ever heard of a “Double Irish” and a “Dutch Sandwich”? Let’s say you are a US company like Google, Inc. Set up two limited companies in Dublin and make one of them a trading company and the other one a research company. Make sure the research company is tax resident in somewhere like Bermuda. Now every time anyone does a web search it’s using a clever search algorithm so the trading company pays royalties to the research company. Let’s say for the sake of argument that royalties are 75% of all revenue, which allows you to keep 25% profit in your ‘other’ company. You only have to pay taxes on the 25%, the rest is R&D deductible expenses. But you can do better than that even. Move the 25% to the Netherlands Foreign Investment Agency (NFIA). There’s no withholding tax to pay because it moved within Europe. Meanwhile,  just move the 75%  from Ireland to your tax haven in Bermuda. Job done.

U2 (and the Rolling Stones, and many, many more rockstars) are very fond of putting money in the NFIA. Then the feckers have the cheek to ask for “justice” and “freedom from debt” for the developing nations.


There’s a Dilbert for that – http://dilbert.com/strips/comic/2010-12-28/ Scott Adams got there before me. No surprise there.