The US-listed semiconductor multinational Microchip is restructuring one of the last surviving corporate arrangements of the double Irish tax scheme era, new company information shows. Microchip Technology Malta Ltd, a holding company with $27.9 billion worth of subsidiaries in Ireland and in Malta on its latest balance sheet last year, was registered in Ireland but claimed tax residency in Malta because “its effective place of management and control is Malta”. The company, with a registered address in Dublin’s East Point Business Park but with no Irish-based directors and a “principal place of business” at a suburban office suite in the…

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Microchip is chipping away at its double malt structure

With all EU countries obligated to impose the 15 per cent minimum corporation tax rate from next year, a multi-billion-dollar subsidiary of the semiconductor giant straddling Ireland and Malta is moving away from Dublin. But where will the tax be paid eventually?

16th Oct, 2023 - 3 min read

Thomas Hubert

Editor

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