- Jul 1, 2008
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Legislation scheduled for debate this week in Ireland’s lower house would criminalize any transactions with businesses or individuals living in Israel’s West Bank. The “Control of Economic Activity Bill” would impose jail for up to five years and heavy fines on Irish citizens that import or sell products from the territory Israel won in the Six Day War. Crucially, it would require foreign companies with divisions or subsidiaries in Ireland to adhere to the boycott as well.
Because of Ireland’s low corporate tax rates, many of the world’s largest companies keep their wealth there. U.S. companies accounted for 67 percent of all foreign direct investment in the country in 2017, and Ireland is especially popular with America’s tech giants. Apple is Ireland’s largest company. Google, Microsoft and Facebook are also in the top 10.
Which brings us back to Israel. A big reason why Israel’s economy has boomed since the inception of the BDS movement is because America’s tech giants have set up branch offices and bought promising Israeli tech startups. The Irish legislation, if it becomes law, would force Apple, Google, Microsoft and Facebook to choose between their Irish tax haven and their business in the Jewish state.
source
Because of Ireland’s low corporate tax rates, many of the world’s largest companies keep their wealth there. U.S. companies accounted for 67 percent of all foreign direct investment in the country in 2017, and Ireland is especially popular with America’s tech giants. Apple is Ireland’s largest company. Google, Microsoft and Facebook are also in the top 10.
Which brings us back to Israel. A big reason why Israel’s economy has boomed since the inception of the BDS movement is because America’s tech giants have set up branch offices and bought promising Israeli tech startups. The Irish legislation, if it becomes law, would force Apple, Google, Microsoft and Facebook to choose between their Irish tax haven and their business in the Jewish state.
source