Full coverage: Multinationals

The US-headquartered software multinational was among the latest to move multi-billion-dollar intellectual property to Ireland two years ago. It was worth the wait.

Ireland's public finances have come to depend on a handful of companies that – judging by their share prices – look vulnerable. Market forecasters give an indication of the tax we might expect from them in 2023.

In their American home, the big tech firms present here are used to skilled staff working and investing in early-stage companies throughout their career. This hasn’t happened much in Ireland yet, but there are “super early signs” that change may be coming.

Intense discussions are continuing to decide how international principles agreed at OECD-sponsored tax negotiations will be implemented, and the devil is in the detail.

After a near-doubling in volume, the business recorded by Stripe in Ireland was near operating break-even point in 2021. This does not tell the full story of the online payments giant’s profitability outside the US, however.

By tinkering with corporation tax, Minister for Finance Paschal Donohoe is giving assurances that Ireland is ready for the 15 per cent minimum rate. There may be deeper reforms on the table, but they will be for his successor to lead to fruition.

The European Parliament’s tax group is visiting Ireland to tackle the use of this country as a base to locate profits “at the expense of taxpayers in Europe,” according to its chair. Sinn Féin’s position in support of current tax policy is part of the equation.

A business linked to a former member of Israel’s cyber warfare unit is under investigation by the European Parliament after its software was used to spy on a Greek journalist. Its corporate headquarters is in Ireland.

Income tax competition is the new corporation tax. And, as the state grows ever more reliant upon income tax, the companies paying the most of it want it to be reduced. What happens next?

Pascal Saint-Amans’s career as OECD tax director culminated one year ago when he secured a global agreement to overhaul corporation tax. As he leaves this position, he assesses the work remaining to be done.