The Irish subsidiaries of foreign multinationals had trading profits of close to €220 billion in 2021, a huge sum for a country the size of Ireland. The same Irish subsidiaries of foreign multinationals had deductions of close to €100 billion for the depreciation of overpriced intellectual property that they generally bought from the Caribbean (or Jersey) subsidiary of their parent. Ireland, though, was able to collect over €15 billion in corporate tax off the Irish profit of these firms, with €8 billion coming from 10 firms and €5 billion from just three. If the past form holds, of last year’s…

Want to continue reading?

Introductory offer: Sign up today and pay €200 for an annual membership, a saving of €100.

Subscribe

Cancel at any time.

Are you already a member? .