Central Bank economists are the latest to add their voice to the clamour alerting over the concentration of the tax take among a small number of multinational corporate taxpayers. What is the real danger?
A six-year battle between Kerry Co-op milk suppliers and Revenue has come to an end in the High Court. The right to subscribe to “patronage shares”, although a receipt of regular trade, will not inflate the farmers’ income tax bills.
Through a series of mergers and demergers in the last decade, a global pharmaceutical manufacturer became Irish. To defend itself against a Vat claim, it had to reveal the details of the scheme.
The Keep scheme is currently under review again. This time, however, the changes need to be wide-ranging and designed to ensure the scheme is simple and effective. And, unlike with the last review, the changes need to be implemented.
Despite persistent calks from the Irish business community for a reduction in CGT, successive governments have failed to act. The Tánaiste has pointed towards reform of the system, but he must now convince the Green Party to get on board.
Are final payments described as “success fees” and “bonuses” taxable as annual income or eligible to lump sum relief? A four-year battle has just come to an end.
Irish companies spend less than other OECD countries on research and development. And worryingly for the indigenous economy, the data shows that that the vast majority of R&D expenditure is from foreign-owned multinationals.
Exchequer returns showed swings of hundreds of millions of euros between 2020 and 2021 following a dispute on emergency stamp duty rules. The exact details of the settlement reached between AbbVie and the tax authority, however, remain secret.
In compliance with the 2020 deadline to end the double Irish scheme, the social media giant’s Dublin office placed its Cayman-resident companies in liquidation. They have now disappeared – except one.
Described by Revenue as a “blatant misuse or abuse” of the tax code, a leveraged bond scheme gave rise to an inflated CGT loss of €34.6m for a husband and wife. But just how did it work? And why is the Revenue struggling to stop it?
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