Marketplace Morning Report for Monday, October 13, 2014
It's advantageous for companies to do business in Ireland because of how that country calculates taxes. Tech giants like Google, Facebook and Apple have set up subsidiaries there, and in doing so, have saved billions of dollars thanks to a tax rate that's way lower than the rates in many other countries. Well, the Irish government is expected to unveil a new budget tomorrow, and there are reports it'll include a proposal to close that tax loophole. Plus, financial innovation in the housing market is back. We're hearing terms like "R-E-O-to-rental securitization, or "rental backed-securities." If you're having flashbacks to the a sub-prime crisis, you're not alone. But many are saying this is a different animal.
It’s advantageous for companies to do business in Ireland because of how that country calculates taxes. Tech giants like Google, Facebook and Apple have set up subsidiaries there, and in doing so, have saved billions of dollars thanks to a tax rate that’s way lower than the rates in many other countries. Well, the Irish government is expected to unveil a new budget tomorrow, and there are reports it’ll include a proposal to close that tax loophole. Plus, financial innovation in the housing market is back. We’re hearing terms like “R-E-O-to-rental securitization, or “rental backed-securities.” If you’re having flashbacks to the a sub-prime crisis, you’re not alone. But many are saying this is a different animal.
