Irish Billionaire Injuncting Media Over Loan Revelations

denis-obrien-dail-report Injunctions gained today make it harder for anyone in Ireland to find out about the scandal swirling around the politically connected Irish billionaire Denis O’Brien. He seemingly managed to obtain loans at a bargain rate of 1.25% from IBRC – the nationalised remnant of the bust Anglo-Irish Bank – saving himself tens of millions in interest payments annually on the prevailing 7.5% commercial interest rate. How? Well it appears the loans were agreed verbally. As you do…

As the Irish deputy Catherine Murphy told the Dail “Given that we are talking about outstanding sums of upwards of €500 million, the interest rate applied is not an insignificant issue for the public interest.” The loans relate to a deal for a company called Siteserv, the takeover of which is also in itself highly controversial. Murphy raised the issue and proposed a motion to have the matter more thoroughly examined today in parliament, O’Brien immediately got privacy injunctions preventing the Irish media from reporting what she said in parliament. Unfortunately for Denis O’Brien the whole report is still available under privilege on the official parliament website 404-obrien Denis O’Brien’s lawyers may have been able to injunct and 404 the Irish media. However this has only lead to the Streisand Effect coming into play…

10 Reasons to Re-Non-Domicile in Ireland if Red Ed Wins in May

Non-doms, hedge fund managers, entrepreneurs and investors are still welcome in Ireland:

  1. Only income from Irish sources is taxable in Ireland.
  2. Income from UK or foreign sources is only taxable to the extent of amounts remitted (brought into) Ireland.
  3. Remittances of capital are not subject to Irish income tax – income earned at a time when the individual was not resident in Ireland would be treated as capital in nature and therefore not subject to income tax here when brought (remitted) to Ireland. This means that while such individuals will be chargeable to tax in Ireland on Irish source income and gains, they will only be chargeable on foreign income and gains to the extent that they are remitted to Ireland.
  4. Where non-domiciled individuals come to Ireland and use their wealth accumulated outside of Ireland to cover their day to day living expenses, it is possible for such individuals to live in Ireland free of tax.
  5. Individuals tax resident or ordinarily tax resident but not domiciled in Ireland are liable to Capital Gains Tax on gains arising on the disposal of assets situated in Ireland and the United Kingdom, and on all foreign gains to the extent that those gains are remitted to Ireland.
  6. Prime property in Dublin as well as estates in the country are still below their bubble highs – though Dublin is rebounding fast. Beachfront properties or houses with stabling facilities are plentiful.
  7. Ireland has world beating sporting teams, fantastic golf courses, the fishing is spectacular, hunting is legal, the sailing is great and the country is the world leader in equestrian sports.
  8. Ireland’s regional airports are an hour away from London City Airport in your Lear  jet.
  9. Ireland has a world class educational system and universities, technology start-ups are springing up everywhere, foreign tech firms like Twitter base their European headquarters in Ireland because the young well-educated English-speaking workforce has the talent they need.   The International Financial Services Centre ‘IFSC’ in Dublin welcomes hedge funds with financial incentives to relocate and is second only to London for the number of fund managers. The Heritage Foundation ranks Ireland the freest economy in the euro-zone.
  10. There is broad cross-party support for Ireland remaining a low tax, business friendly country welcoming to foreign investors. Corporation tax is 12.5%, inward investment incentives with tax breaks for entrepreneurs are generous.

If Red Ed does get elected on May 7 and the socialist terror comes to Britain, Ireland will welcome the huddled elite, yearning to breathe free…

Happy St Patrick’s Day From Guido and Tony Abbott

Lá Fhéile Pádraig Sona Daoibh!

NHS Used to Lure US Tech Firms to Britain

us tech companies

The government is trying to attract US tech companies to the UK by tempting them with the prospect of being treated on the NHS as part of the “expat experience”. Alongside access to free healthcare, US companies who take advantage of the UK Trade & Investment’s HQ-UK project are being offered exclusive perks such 24 hour processing for visa applications, a complete concierge service to manage the transition of the company and a relationship manager to help newly-arrived firms get connected. Whether the lure of waiting in a NHS walk-in centre is enough to tempt the yanks away from Ireland’s 12.5 per cent corporation tax rate is yet to be seen…

No Sun, No Comment

ni-tax-x480

Well done to the FT’s Chris Giles, George Parker and Vincent Boland for the front page confirmation today of Guido’s story from back in October about the Tory offer to the Northern Irish unionists on corporation tax. As Guido’s readers in The Sun and here already know, the Tories have promised a deal on business taxes to allow Northern Ireland to compete with the Republic’s lower taxes. Guido’s unionist source told him it was likely the corporation tax rate would be cut from 20% to “12% or 13%” to compete with the lower tax rates offered by Dublin. “Anything but 12.5%, we’re not harmonising with the Republic. No!”

Happy Saint Patrick’s Day!

Guido is off with the kids to the parade in Waterford.

Lá fhéile Pádraig sona dhaoibh!

Ireland Voting to Abolish Second Chamber

ABOLISH-SEANADToday Ireland is voting in a referendum to abolish the Seanad – the second chamber of parliament which costs some €20 million a year to provide a sinecure for recycled politicians who have been kicked out of the properly elected chamber by the voters.  Ireland is weighed down with too many politicians. New Zealand got rid of their second chamber and they carried on just fine…

ABOLISH-SEANAD

Call Me Chuka O’Munna

As revealed in yesterday’s Sun column, two-faced Chuka Umunna isn’t so shy about the ‘British Obama’ tag when he’s away from the public eye. When the President visited Ireland in the summer of 2011 he delighted his hosts by telling them of his Moneygall ancestral roots and dubbing himself Barry O’Bama. This year it was Chuka’s turn, speaking to guests at the Labour Irish Society’s St Patrick’s Day shindig of a relative from Sligo. Telling them they could call him Chuka O’Munna may have given the game away…

Happy St Patrick’s Day Prime Minister

You knew he was Irish…[…]

+ READ MORE +

Shinners Show Up

Tory MPs are spluttering into their afternoon tea over this:

Dear Colleague,

Reminder:

Sinn Fein Briefing meeting for Members
Michelle Gildernew MP, 12.30pm, Room T, Portcullis House, Wednesday 16 January

I am writing to remind you of the invitation to

[…]

+ READ MORE +

Ireland Votes 60% / 40% to Ratify Fiscal Treaty

Fear triumphed over anger and the Irish government won a mandate to ratify the EU Fiscal Treaty on a turnout of 50.6%.

Guido bought advertising across Ireland parodying the Yes side’s CEO-fronted campaign (above) and is a little worried that […]

+ READ MORE +

Fine Gael Gets CEOs to Endorse Treaty ‘Yes’ Vote

Ireland’s governing Fine Gael party is campaigning for a ‘Yes’ vote in a referendum on the EU’s Fiscal Compact Treaty. Trust in politicians in Ireland is so low that they are getting business CEOs to front the campaign with endorsements […]

+ READ MORE +



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“If you stripped naked and ran in front of me, Tom, I might have second thoughts about it, but apart from that, no.”

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