48 BBC News report October 7th 2021 "Republic of Ireland to increase its Corporation tax rate to 15%" "The Irish Republic is to increase its tax rate from 12.5% to 15% for firms with a turnover of more than 750 million Euros per annum" What are the factors that led the Irish Government to do this?

48 BBC News report October 7th 2021 "Republic of Ireland to increase its Corporation tax rate to 15%" "The Irish Republic is to increase its tax rate from 12.5% to 15% for firms with a turnover of more than 750 million Euros per annum" What are the factors that led the Irish Government to do this?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Q.1 a) Perth International Co., an Australian multinational company, forecasts 70 million Australian dollars (A$) earnings next year (i.e., year-one). It expects 50 million Chinese yuan (CNY), 49 million Indian rupees (INR) and 33 million Malaysian ringgit (MYR) proceeds of its three subsidiaries in year-one. It also forecasts the year-one exchange rates A$0.3791/CNY, A$0.0420/INR and A$0.6130/MYR. Calculate the total Australian dollar (A$) cash flow for year-one. (enter the whole number with no sign or symbol) b) Perth International anticipates a 4.38 per cent increase in the year-one income of its subsidiaries in year-two. It has information that the current 5.25 per cent, 8.34 per cent, 13.71 per cent and 10.86 per cent nominal interest rate in Australia, China, India and Malaysia, respectively, will remain the same in the next three years. Due to foreign currency higher nominal interest rate, subsidiaries will invest 26 per cent, 50 per cent and 40 per cent of their year-two…
5. A, non-resident alien engaged in business in the Philippines, has the following income within and without the Philippines for 2018: Within Abroad the Phil Interest income from depository bank under expanded foreign currency deposit system in Philippines 70,000 90,000 50,000 60,000 40,000 300,000 40,000 20,000 Dividend income Royalty income-others Business income-net of expenses Interest income-bank deposíts Prizes / winnings 250,000 30,000 9,000 What is the total final income tax due of A? Based on number 5, what is the basic income tax due of A?
The United States passed the Foreign Account Tax Compliance Act in 2010 and has been requesting countries to sign up to collecting financial and tax information of US citizens and green card holders for implementation in July 2014. What are the disadvantages for developing countries for having an agreement complying with this Act?
q7. Square Group is currently expanding its international business in Kenya. How taxation and repatriation of profit risk can affect their business in Kenya. Provide a detailed explanation. You should provide a detailed explanation for this question.
Q8. An Australian bank that invests €75m in 5-year maturity loans and funds these loans with €150m 4-year deposits is exposed to the following risks. A depreciation of the Euro against the Australian dollar, plus credit risk plus liquidity risk, plus reinvestment risk, i.e. decreasing interest rates in the Euro zone. An appreciation of the Euro against the Australian dollar, plus credit risk plus liquidity risk, plus refinancing risk, i.e. increasing interest rates in the Euro zone. A depreciation of the Euro against the Australian dollar plus credit risk plus refinancing risk, i.e. increasing interest rates in the Euro zone. A depreciation of the Euro against the Australian dollar plus refinancing risk, i.e. increasing interest rates in the Euro zone. An appreciation of the Euro against the Australian dollar plus credit risk plus reinvestment risk, i.e. decreasing interest rates in the Euro zone.
Number 2
Suppose Lufthansa buys 10 Boeing 747s for $150 million in 1991, financed by a five-year loan from the US Export-Import Bank. There is a one-year grace period on principal and interest payments. Which one of the following would NOT be one of the net impacts of this sale in 1991? a . a $150 million reduction in the U.S. trade deficit b . zero change in the U.S. balance of payments in 1991 c . a $150 million reduction in the U.S. capital account surplus d . a $150 million increase in the U.S. trade deficit
QUESTION 8 The U.S balance of payments involves all of the following except foreign investment. private grants. government grants. commercial bank deposits in dollars from foreigners.
1. During the currency crisis of September 1992, the Bank of England borrowed DM 33 billion from the Bundesbank when a pound was worth DM 2.78 or $1.912. It sold these DM in the foreign exchange market for pounds in a futile attempt to prevent a devaluation of the pound. It repaid these DM at the post-crisis rate of DM 2.50:£1. By then, the dollar:pound exchange rate was $1.782:£1. a) By what percentage had the pound sterling devalued in the interim against the Deutsche mark? Against the dollar? b) What was the cost of intervention to the Bank of England in pounds? In dollars?
13-An Omani establishment has drawn an invoice of RO 5,400 on account of a foreign sub-contractor. The amount payable to a foreign sub-contractor is RO 5,400. The WHT (Withholding Tax) is Payable @ 10%. Which one of the following is WHT as per Oman tax laws? a. RO 6,600 O b. None of the options O c. RO 6,000 O d. RO 600
Southerland Corporation, a U.S. video games manufacturer, had several foreign exchange transactions during 2023 and 2024. 2023 10/01/23 11/01/23 12/31/23 2024 01/31/24 Required: Southlerland sold office equipment to a firm in Oman for 100,000 rial. Payment is to be received in Omani rial in six months on April 1, 2024. The spot rate for the Omani rial dinar is $2.65. Contracted to deliver inventory to a firm in Poland on January 31, 2024. The contract was for 725,000 Polish zloty due on May 1, 2024. To hedge against the future commit- ment, Southerland acquired a forward exchange contract. The six-month contract is to sell 725,000 Polish zloty to the broker on June 4, 2024 at a forward rate of $0.20. The spot rate on for the Polish zloty on November 1, 2023 is $0.25. Adjusted the accounts when the spot/current rate and forward rate for the Polish zloty is $0.18 and $0.21, respectively, and the current rate for the Omani rial is $2.66. Delivered inventory to the firm in Poland.…
Question 4 A multinational Corporation based in the United States of America has subsidiaries in the UK, Canada, and France. As at December 31, 2020, inter-company indebtedness were as follows: Debtors Creditors Amount Currency UK Canada 1,500,000 Can$ UK France 600,000 Euro (€) France Canada 800,000 Can$ Canada UK 94,000 Sterling (£) Canada France 400,000 Euro (€) It is the policy company's policy to net off inter-company balances to the greatest extent possible. The central treasury department is to use the following exchange rates for these purposes: US$1 =Can$1.237/€0.8620/£0.729 Required: Calculate the net payment to be made between the subsidiaries after netting off inter-company balances, by presenting the payoff in a matrix/table format. Hints: Convert in a common currency and note that the Debtor company always pays the creditor company.