Tax Competition Quotes

Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.

At the heart of the Irish economy has always been the philosophy of tax competitiveness. On the cranky left, that is very annoying; I can see that.

High tax rates distort economic decision making, and our corporate income tax rate is one of the highest in the world.

A study by Treasury economists estimated that a country with a tax rate one percentage point lower than another country's attracts 3 percent more capital. It's not surprising then, that average OECD corporate tax rates have trended steadily downward.

The United States already has the highest corporate tax rate in the world.

Let's face reality. To ensure Hong Kong remains competitive, we have to uphold a very low tax regime.

Getting rid of the deductibility of state and local taxes will force the highest corporate tax states to lower their rates, or fewer corporations over time will headquarter there.

The truth is, our corporate income taxes are some of the highest in the world, and frankly, in my judgment it's unpatriotic if you're not for reducing the corporate income tax. We want to make it so American companies are on a more level playing field competing with companies around the world.

If every country tries to race towards the lowest [tax] rate, then in the end nobody gains. If you believe there should be no government at all, then fine. But if you believe some government is good, then you cannot have a system that erodes the tax base in all major countries.

Get rid of the preferences and the special deductions and the loopholes... and invest in getting the tax rate to a competitive level so we stop seeing companies move off shore.

If we had a flat tax code rather than a 70,000-page document full of cronyism and favors, bureaucrats and elected officials wouldn't have the power to do you any favors. That's what we need. You would have to compete on your own on a level playing field, but that's not what the government permits now.

Obama wants to take the individual small business tax to 44 percent, and the corporate rate - he says - down to 28 percent or whatever. But that really damages the small businesses. And it doesn't make us competitive. You got to take them both down to 20, because state and local corporate taxes are 5 percent.

In a perfect world we would bring corporate tax rates down to 25% or less so we can get competitive in the world economy. Ultimately, I would love to see a flat tax.

African countries lose billions every year because of tax dodging by big corporations and wealthy individuals. They lose billions more from overly generous tax incentives in a misguided belief that this is the only way to attract foreign investment.

If the goal of the Trump tax cut is to make America look more like tax-cutting North Carolina and less like soak-the-rich Connecticut and Illinois, he's certainly on the right track.

We ought not to cripple them [the Australian States] using our power of direct taxation, unless under the stress of some great emergency; we ought to leave them free to enlarge their revenues by direct taxation [income and property taxes], seeing that they will have no power to resort to customs or excise duties if they want additional revenue.

A lack of reform - particularly in international tax - has hurt our ability to compete in a global economy by keeping U.S. corporate cash overseas and reducing domestic investment, slowing economic growth.

Foreign investors like decisiveness; they like clarity. There isn't any confusion about Ireland's corporate tax rate: it is 12.5%. End of story.

Although the reasons for Michigan's malaise are varied, one big reason is our state's almost uniquely uncompetitive tax structure, which one General Motors official called the costliest of all jurisdictions where GM operates.

A global tax body would give all countries - not just the rich and powerful - an equal say in how the global rules on taxation are designed.

A huge part of Apple profits generated in Europe, in African countries, Middle East, and India were all booked in Ireland. And I think it is a very basic principle in taxation that your profits are taxed where the profits are generated.

Almost everyone agrees that corporate tax rates need to be cut because of global competition. Companies should not be able to stash earnings overseas tax-free.

African countries lose the most from tax dodging. African governments must, therefore, do more to push for a full reform of the global tax system and demand action from countries, such as the U.K., whose financial centres sit at the heart of the global network of tax havens.

Why do tax havens exist? Because rich countries allow them to. If the U.S. came down on tax havens in the same way they come down on countries that trade with Iran and Cuba, we'd have no tax havens in the world.

The Irish move to a very low corporation tax has generated very significant revenue growth, considerably in excess of Britain's, where a slower economy has been combined with a number of stealth taxes.