Irish Economy
Microsoft tops Irish exporters' fantasy league; 37% rise in 2012
By Michael Hennigan, Finfacts founder and editor
Jul 17, 2013 - 11:06 AM

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The Irish Exporters Association (IEA) today launched its 2013 edition of Top 250 Exporters in Ireland and Northern Ireland. Software firm Microsoft was named the largest exporting company, moving up one place from its previous year’s ranking. This is simply a fantasy league with 26% of the software giant's global revenues of $70bn in fiscal year 2012 that ended on June 30, 2012, booked in Ireland for tax purposes.

Microsoft employed 94,300 in 2012 and 1,200 in Ireland were responsible for 24% of global revenues!

Microsoft Inc.'s net income ratio was 30% and 7.5% in Ireland.

Its global profit before tax in 2012 was $22bn; in Ireland profit was reported at $1.3bn and a provision for tax was $170m compared with $5.3bn at Microsoft Inc.

Google Ireland revenues on the chart above are for 2011 and the search engine giant diverted 42% of its global revenues  to Ireland in that year.

Apple's revenue bookings in Ireland are understated, based on US Senate evidence that was published in May.

Dell Products books the output of its Polish factory in Ireland and magics up exports.

The Irish-Dutch Smurfit Kappa group has 41,000 global employees and €105m of its €7.3bn in revenues weree booked in Ireland in 2012.

Last year when the IEA declared Google Ireland as the economy's biggest exporter, Finfacts contacted John Whelan, the chief executive, to query the basis of the selection as it was based on fantasy exports.

"They employ 1,900 in Ireland," was the cryptic response.

Don't confuse us with the facts!

Kenny's bogus Irish effective tax rate claim

Irish Economy 2012: At least a third of value of Irish services exports is overstated


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