If Oscar Wilde were to comment on the evolving taxation of multinationals in Ireland in recent years, he would probably say that failing to close one loophole may be regarded as a misfortune; failing to close two looks like carelessness. Yet my reporting over the past week has shown that this is exactly what happened. As detailed on Tuesday, then Minister for Finance Michael Noonan passed a reform in 2014 forcing Irish-registered companies to be tax-resident in Ireland, apparently ending the double Irish tax scheme whereby Irish intermediary holding companies of countless multinationals were resident nowhere or in zero-tax offshore…
Sign up today: Full annual membership for just €200. Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators. Members of The Currency get full access to over 3,200 exclusive interviews, investigations, and analysis, plus over 220 podcasts. Annual membership is just €200 for the first year, a saving of €100. Or try The Currency for the first month for a special introductory rate of €5, a saving of €20. Cancel at any time. To become a member today click here.
Join The Currency
INTRODUCTORY OFFER.