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.
From offshore schemes to unregulated funds, financial advisers are always looking for a new scheme to peddle. Given some of the products on offer, it is hard not to see this as a race between the Central Bank and a series of blowouts in the marketplace.
Despite various official investigations and Revenue warnings, the quantum of pension funds being transferred overseas peaked last year. Most went to tax-efficient structures in Malta.
An Irish businessman challenged an assessment by the Revenue Commissioners on a hefty pension distribution, claiming that he was living in Malta and had no home available to him in Ireland.
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