The EU warns Irish State coffers depend on “a few individual companies”, as confirmed in new Exchequer figures for May.
New figures from Amazon’s cloud-computing division show that it is no longer ploughing money as fast into Irish data centres as it is globally.
The Dublin office of the social media platform formerly known as Twitter has lost revenue, haemorrhaged staff and accumulated legal disputes under Elon Musk’s ownership. Meanwhile, its competitors thrived.
The High Court has clarified the tax treatment of foreign withholding tax on royalties collected by an Irish subsidiary of the consulting multinational.
Tech multinationals pay a disproportionate amount of income tax, USC, and PRSI. While the spotlight has been on potential swings in corporation tax, AI-driven job cuts, too, could threaten Ireland’s budget balance.
A pre-budget visit by executives from Medtronic, Eaton, and Johnson Controls to then-minister Paschal Donohoe was just the latest in efforts to preserve the position of their Irish HQs as the transatlantic tax playing field levels.
The US database giant first arrived in Ireland in 2013 and has grown aggressively ever since. Now, it plans to invest a further €74 million into its Irish operation and add over 200 new jobs.
The Department of Finance forecast a €3bn boost from the new 15 per cent tax on multinationals in Budget 2026. It’s now clear there will be more in a full year.
Its artificial-intelligence revenue is set to top $1 billion this year, reassuring investors wary of rivals’ sky-high spending, write Rolfe Winkler and Nate Rattner, The Wall Street Journal.
The transaction reflects that Allergan Pharmaceuticals International became a major profit centre for the US pharma group in 2020, after funding intellectual property assets with intercompany debt that has now been cancelled.
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