Full coverage: Tax

The EU has special-purpose vehicles in its crosshairs. The European Parliament has suggested stricter criteria to scrutinise their use in tax avoidance, but the decision rests with finance ministers.

When the Swiss food multinational acquired Pfizer’s infant formula business in 2012, it claimed the cost of unwinding intercompany debt as a tax-deductible expense. The Tax Appeals Commission has now decided the case.

The latest layoffs at Salesforce show the correction in the tech industry is not over, raising questions about Ireland's corporation tax boom. Another tax stream, however, gives an indication of the profits yet to be declared here – and that's before we even look at big pharma.

The semiconductor multinational is reaping maximum rewards from the loophole still allowing Irish companies to be tax-resident in Malta. Its tax bills are small, but its capital returns are not.

Founded out of the soil of the last recession, Sinead Doherty has taken Fenero from a headcount of one to 70. She talks to The Currency about expanding in India and taking the administrative sting out of contracting and freelancing models.

The detail of rules yet to be fully thrashed out will determine whether it makes more financial sense for mid-tier multinationals like Etsy to keep their international HQ located in Ireland.

Shortly before the end of its financial year in January, the Dell group severed its cloud software arm VMware. Both businesses continued to maximise the green jersey scheme in Ireland to shield their growing European business from corporation tax.

The Department of Finance described much of the latest bumper corporation tax revenue as a once-off windfall. Yet every indication is that aggressive tax planning through Ireland is set to continue.

When demand for rapid medical tests exploded during the pandemic, the US pharma giant routed this business through Ireland and Malta to achieve a four per cent tax rate. This expanded into a multi-billion-euro business last year.

New information from multiple subsidiaries of the two digital advertising giants in Ireland reveal how they operate in the post-double Irish world and how ready they are to take on the industry slump.