International reaction to Budget 2014
Much of the international coverage of the budget focused on Minister for Finance Michael Noonan’s pledge to tackle the use of stateless Irish companies by US multinationals to lower their taxes . However in France and Germany, coverage of austerity featured strongly.
Financial Times (front page): Dublin to shut door on Apple tax loophole: “Ireland has bowed to international pressure and said it would close a legal loophole that enabled Apple to save tax of $44 billion of offshore income in the country’s first major step against tax avoidance. “
Financial Times (The Lex Column):
Dublin Up, Dublin Down:
“Austerity’s poster child is putting on a new suit, combing its hair, and preparing to return to the financial market.”
The New York Times: Ireland’s Government Says It Will Curb a Tax Strategy That Faced US Scrutiny
“Ireland’s government promised to clamp down on a controversial tax strategy used by multinational corporations, but it was unclear what effect the move would have on Apple, Google and other companies that currently use the maneuver.”
The Times (London): “Irish prepare to put a lid on Apple’s Cork tax break”
“Ireland bowed to international pressure yesterday and said it planned to close a much-criticised but legal loophole used by Apple to save more than $40 billion of offshore income.”
Wall Street Journal : Dublin Moves to Block Controversial Tax Gambit: “The Irish government is targeting a maneuver that Apple Inc. and other companies have used to minimize taxes – a move aimed at countering international criticism but one that some accounting experts say may have little effect on what companies actually pay.”
The Guardian: Ireland closes loopholes that led to tax haven allegations: “Ireland’s finance minister has pledged to crackdown on ‘stateless’ multinational companies that use addresses in the republic to avoid paying tax in their home countries”
The Daily Telegraph: “Irish finance minister pledges to close Apple tax loophole” : Ireland has pledged to close a widely criticised tax loophole used by technology giant Apple to avoid payments on more than $40 bn (£25bn) of income.
Le Monde: The dilemma austerity poses for the Irish government: “The Irish government has promised an austerity budget presented for 2014 will be the last orchestrated under the tutelage of the troika.”
Süddeutsche Zeitung: A tough cookie. Uses the budget to focus on Enda Kenny . It says Ireland is to leave the euro bailout thanks to the Taoiseach and his perseverance.