By John Considine
There is a superb article by Philip Connolly in the recent edition of The Sunday Business Post titled 'By Jorge! Ronaldo's Agent and his Dublin connection'. Connolly explains that the attraction of Dublin for Jorge Mendes is "the same for many other body corporates - tax".
I particularly like the sentences "At the head of a vast multimillion-euro business, the Portuguese agent sits atop an organisation that spans from Porto to the tax haven of the British Virgin Islands. In the middle is Ulysses House, a nondescript office block just north of Dublin's River Liffey. It is here that a subsidary of Gestifute, Mendes's agency, shares a registered office with more than 150 other companies." Connolly describes the British Virgin Islands as a tax haven and in the following sentences he discusses the 150 registered offices in Ulysses House. Imagine all the economic activity that takes place in Ulysses House!
The article is not just about taxation. Connolly also discusses 'economic rights participation agreements' and the role of an entity called Quality Football. Most of us might associate Carlos Tevez with third-party ownership of a player's sporting rights. Connolly says explains how Norwich's Ricky van Wolfswinkle is another player with a connection to such agreements. Tevez kept West Ham in the Premier League while embroiled in controversy over his arrangements. Van Wolfswinkle was relegated with Norwich after a season where he contributed almost nothing on the scoreboard.
I particularly like the sentences "At the head of a vast multimillion-euro business, the Portuguese agent sits atop an organisation that spans from Porto to the tax haven of the British Virgin Islands. In the middle is Ulysses House, a nondescript office block just north of Dublin's River Liffey. It is here that a subsidary of Gestifute, Mendes's agency, shares a registered office with more than 150 other companies." Connolly describes the British Virgin Islands as a tax haven and in the following sentences he discusses the 150 registered offices in Ulysses House. Imagine all the economic activity that takes place in Ulysses House!
The article is not just about taxation. Connolly also discusses 'economic rights participation agreements' and the role of an entity called Quality Football. Most of us might associate Carlos Tevez with third-party ownership of a player's sporting rights. Connolly says explains how Norwich's Ricky van Wolfswinkle is another player with a connection to such agreements. Tevez kept West Ham in the Premier League while embroiled in controversy over his arrangements. Van Wolfswinkle was relegated with Norwich after a season where he contributed almost nothing on the scoreboard.
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