Clearly the state needs to withdraw tax relief from the banking sector. Allowing them to offset the previous years losses, or allowing them to offset income tax payments against corporation tax liabilities means that they already receive relief.
You get to offset income tax payments against corporation tax liabilities?
Wowee. That\’s a gap to drive a coach and horses through, isn\’t it?
What I think he means is that incomes paid to workers are treated as expenses of the company before the calculation of what profit has been made. Which, since incomes paid to the workers are an expense to be taken into account before calculating profits seems sensible enough. Difficult to think of any other way of calculating profits really……
But while that\’s what I think he means it\’s always difficult to tell with Eoin isn\’t it?