Over the past eight years, the US and Irish governments have tried and failed to close tax loopholes on three occasions. Why is this, and can the collective approach under the new OECD deal turn the tide?
For five years, a charity has warned of the risk that multinationals may combine Ireland and Malta to minimise their tax bills aggressively. Now that its concerns have been borne out, Christian Aid explains why it matters.
Computer chips, video games, aircraft leases: As long as a portion of Irish income can be attributed to intangible assets, multinationals have found creative ways of having it taxed at around 5% in the Mediterranean island.
Successive rule changes purported to outlaw the double Irish and single malt tax structures but they left a gap wide open. Here is how Abbott stepped into it to minimise the tax due on profits from Covid-19 and other medical tests.
Months before Covid-19, Abbott Laboratories completed the reorganisation of a rapid diagnostics unit across Ireland and Malta. When this business ballooned, profits trickled through the supposedly closed double Irish loophole.
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