From $3bn in profit to $3m in tax: Microchip’s double malt in action
The Currency first revealed how the US semiconductor multinational had squeezed through the gap left between the ban on the double Irish and single malt structures. Now we have the full picture of how it works – and how efficiently.
The double malt – part five: Allowing aggressive tax planning makes sense for no one except multinationals
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?
The double malt – part four: “Structures like these siphon revenue from some of the poorest countries in the world”
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.
The double malt – part three: How Microchip, Tencent and Lufthansa cut their tax bills via Ireland and Malta
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.
Caveat emptor: Financial dark pools, junk bonds and the curious art of financial advice
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.
Property trusts and boarding passes: Maltese-based Irish millionaire’s battle with taxman over €10.6m pension pot
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.