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> Why Is Ireland's GDP So High?

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#1 2022-12-01 04:34:24

Why Is Ireland's GDP So High?

What do they do on that rock?

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#2 2022-12-01 05:04:21

Re: Why Is Ireland's GDP So High?

irishhat

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TEAM TROJAN MAGNUMS
#3 2022-12-01 10:46:57

Re: Why Is Ireland's GDP So High?

A number of reasons - one is that a lot of international (and especially US) companies use Ireland as their base in the EU because it's an English speaking country that's in the eurozone and is part of the EU common market - having fairly low tax rates and a generally well educated population helps, too.  A slightly more murky reason is that there were previously a lot of tax avoidance tricks that involved Irish entities - these have in many cases been shut down now, but even without them it's still a sufficiently attractive business environment that if you are already there there is very little incentive to relocate even after the loopholes were closed.

In particular, there was a tax structure often called "double Irish with a Dutch sandwich" - which involved creating two Irish companies and a subsidiary in the Netherlands and routing international revenue through them, which could be used to avoid paying tax on both US and EU sales (you needed another company in a low tax jurisdiction like the Bahamas or BVI that notionally took all the profit).  Google and Apple were both using this structure, although it's no longer possible after the Irish government started attracting lots of heat from both the US and EU over it.

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#4 2022-12-01 12:28:52

Re: Why Is Ireland's GDP So High?

Thankx!

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#5 2022-12-01 14:30:23

Re: Why Is Ireland's GDP So High?

Pots of gold be everywhere, especially when the rainbows be out!

irishhat
ass

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Phillip_McCavity
#6 2022-12-01 19:15:55

Re: Why Is Ireland's GDP So High?

Many small trading nations have a really high GDP, as well.

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#7 2022-12-01 19:21:45

Re: Why Is Ireland's GDP So High?

So what is their product?

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Phillip_McCavity
#8 2022-12-01 19:51:45

Re: Why Is Ireland's GDP So High?

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