Conor's Feed
May 28, 2013

Irish government backs ban on cigarette pack branding

DUBLIN (Reuters) – Ireland is to become the first country in the European Union to ban branding on cigarette packages by using plain packaging and uniform labeling, the government said on Tuesday.

All trademarks, logos, colors and graphics will be removed from tobacco products sold in Ireland under the new rules, the Health Ministry said, after the proposal secured backing from the government.

May 27, 2013

Ireland readies diplomatic corps to rebuff tax haven claims

DUBLIN, May 27 (Reuters) – Ireland is preparing to
officially reject accusations by U.S. Senators this week that it
acts as a tax haven for large multinationals and launch a
diplomatic offensive to repair the damage done to its reputation
abroad.

Ireland has been forced to defend its low corporate tax rate
after the Senate said last week that iPhone and iPad maker Apple
paid little or no tax on tens of billions of dollars in
profits channelled through Irish subsidiaries and that it had
effectively negotiated a special corporate tax rate of less than
2 percent. {ID:nL2N0E20Y1]

May 24, 2013

Low-carat gold at Irish end of U.S. corporate rainbow

DUBLIN, May 24 (Reuters) – Irish officials and business
leaders like to trumpet their success in attracting U.S.
investment as proof the country is on the road to recovery.

At a conference in Dublin on Friday the head of Ireland’s
largest bank gave small business leaders the “15-second elevator
pitch” he gives to U.S. executives when he is in New York or
Boston.

May 22, 2013

Irish seek to hold the line in tax battle

CORK/DUBLIN (Reuters) – Until this week, Richard Bruton enjoyed the sweet spot in Irish government. While cabinet colleagues rolled out spending cuts and tax hikes, Bruton got the photo opportunities with foreign CEOs investing in their favorite corner of Europe.

Now the strategy that underpins Bruton’s role as jobs minister and the country’s hopes of recovering from the crisis that drove it to take an international bailout is under attack from the United States and the rest of Europe.

May 22, 2013

Ireland feels the heat from Apple tax row

DUBLIN (Reuters) – Ireland called on Wednesday for an international clampdown on multinationals shifting profits around the world to avoid tax, after criticism that Irish loopholes helped technology giant Apple to shrink its tax bill.

A U.S. Senate investigation into the tax affairs of the maker of iPhones, iPads and Mac computers has shone an uncomfortable spotlight on Ireland’s tax regime and forced the government to defend itself against accusations of being Europe’s onshore tax haven.

May 22, 2013

Ireland rejects blame for Apple’s low tax rate

CORK/DUBLIN (Reuters) – Ireland said on Tuesday it was not to blame for Apple Inc’s low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries.

The Irish government, which has seen the luring of U.S. multinationals with low taxes as a key part of its economic policy since the 1960s, said its system was transparent and other countries were responsible if the tax rate paid by Apple was too low.

May 21, 2013

Ireland says not to blame for Apple’s low tax rate

DUBLIN (Reuters) – Ireland said on Tuesday it was not to blame for Apple Inc’s low global tax payments after the U.S. Senate said the company paid little or nothing on tens of billions of dollars in profits stashed in Irish subsidiaries.

The Irish government, which has seen the luring of U.S. multinationals with low taxes as a key part of its economic policy since the 1960s, said its system was transparent and other countries were responsible if the tax rate paid by Apple was too low.

May 21, 2013

Ireland says it is not to blame for low Apple tax rate

DUBLIN (Reuters) – Ireland said on Tuesday it was not to blame for Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) low global tax payments after the U.S. Senate said the company paid little or nothing on billions of dollars in profits stashed in Irish subsidiaries.

In a 40-page memorandum released ahead of an appearance by Apple CEO Tim Cook before Congress on Tuesday, a Senate subcommittee identified three subsidiaries that have no “tax residency” either in Ireland, where they are incorporated, or in the United States, where those companies are managed.

May 20, 2013

Ryanair shares hit record after earnings top forecasts

DUBLIN, May 19 (Reuters) – Ryanair posted
forecast-beating full-year earnings on Monday, buoyed by strong
growth in fares and a sharp rise in charges for items such as
baggage and in-flight refreshments.

Shares in Europe’s largest budget airline jumped more than 6
percent to a record high of 6.764 euros.

May 15, 2013

Ryanair sees passenger growth rate doubling by 2018

DUBLIN, May 15 (Reuters) – Ryanair aims to grow much
faster than previously indicated over the next five years in a
bid to exploit the weakness of mid-tier European rivals
struggling with recession, the firm’s chief operating officer
has told Reuters.

Three decades after it launched the industry’s cheap flights
revolution, the Irish airline hopes to raise passenger numbers
by more than 8 percent annually in 2015-18, double last year’s
growth and up from a forecast of 5 percent it gave in March.