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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 29/07 New
Lowtax Editor Column, by Kitty Miv |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu
, Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 19/07 Expats
Turn Backs On US Taxes, Tax-News.com |
| 16/07
Congress Approves US Financial Reform Bill, Tax-News.com |
| 15/07 New
Lowtax Editor Column, by Kitty Miv |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-News.com
Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
| 09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com |
| 08/07 New
Lowtax Editor Column, by Kitty Miv |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 05/07
Australian Mining Tax Agreement Reached, Tax-News.com |
| 02/07 Online
Trading For Expats, Investors Offshore special feature |
| 29/06 EC
To Extend Common System Of VAT, Tax-News.com |
| 28/06
Lowtax Dubai, annual update |
| 25/06 Jersey
Considers Tax Future, Tax-News.com |
| 22/06 VAT
Hiked In UK Emergency Budget, Tax-News.com |
| 21/06 Steady
Progress In TPP Negotiations, Tax-News.com |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
| 14/06 Ethical
Moonshine, Penelope Wise blog entry |
| 11/06 Germany
Purchases Stolen Tax Data Disc, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 07/06 G-20
Shelves Global Bank Tax, Tax-News.com |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 31/05
OECD And EU Strengthen Tax Cooperation, Tax-News.com |
| 28/05
Lowtax Guernsey, annual update |
| 25/05
Lowtax Jersey, annual update |
| 24/05 Lithuania
Summary PBTG Guide, added to Personal Business Tax Guide |
| 21/05
Lowtax Liechtenstein, annual update |
| 18/05 Latvia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 17/05 Offshore
And The Euro, Jeremy Hetherington-Gore blog entry |
| 14/05 IO
Focus: Barbados, Investors Offshore special feature |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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Irish Pay Lowest Taxes In Europe, Says Deloitte,
by Jason Gorringe, Tax-News.com, London 20 December 2006
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A new survey by Deloitte of employee remuneration in enterprises with 10 or
more employees shows a wide divergence in average remuneration levels and social
security costs in 24 of the 25 EU member states.
The survey highlights that a wide gap still exists in the remuneration levels
of EU member states that joined in May 2004 and the original 15 members.
According to the survey, Lithuania has the lowest remuneration costs at just
over EUR5,100. Estonia and Slovenia are not far behind with remuneration levels
of EUR9,216 and EUR9,264. These figures represent a considerable increase over
the figures for 2005 which were EUR7,466 and EUR8,321 respectively.
Ireland is ranked 15th out of the 24 countries surveyed, with an average remuneration
cost of EUR36,852. In 2005 the figure was EUR34,997 – this represents
an increase of 5.3%. Deloitte observed that a positive aspect of Budget 2006 is that
for the second year in a row it has not added to the total cost of employment,
while at the same time, it has reduced the total tax on the employee by EUR530.
However, the relative positions of the countries change when one compares
the employee tax and insurance costs as a proportion of the total remuneration
paid. Ireland continues to have the lowest level at 6.34% post-Budget, with Cyprus
in second place at 8.77%. This confirms Ireland as a low tax jurisdiction
for employees.
Also, when one compares the employer social insurance costs as a percentage
of remuneration, Ireland is in fifth position. Denmark has the lowest percentage
at 1.36%. Ireland, at 9.71%, is just behind Cyprus, Malta and the UK which have
percentages of approximately 9.1%.
Comparing the combined costs of tax and employee and employer social insurance
costs with the total cost of employment, Ireland post-Budget is found to have
the lowest percentage cost. This was only a marginal advantage in 2005, but the
gap between Ireland and Cyprus has increased to 1.44%. Malta and Luxembourg
continue to occupy third and fourth places respectively.
Commenting on the results of the survey, Pat Cullen, tax partner with Deloitte,
stated that:
“The survey shows the continued commitment of the Irish Government to
keep the tax and social welfare costs down and hence keep the costs of employment
down. However, Ireland continues to be exposed to pressures from eastern Europe
where employment costs are still relatively low. As those economies gather pace
and start to compete more effectively for international mobile investment, Ireland
will be at a considerable disadvantage.”
He added: “While it is unrealistic to expect Ireland to be able to close
the gap in remuneration levels, the challenge for Ireland Inc is to effectively
promote the added value that Ireland has to offer through its location, other
taxation measures and experienced workforce so that it continues to attract
sustainable investment to ensure its economic growth.”
A comprehensive report in our Intelligence Report series
giving background tax and residence information on many of the key offshore
jurisdictions is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report4.asp
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