Full coverage: Tax

Cabot Financial Ireland and its Dublin subsidiaries have grown their assets and revenue from non-performing loans acquired from Portugal to Poland – as well as the taxable Irish profit arising from this business.

Share buybacks from cash-rich PLCs are in vogue. And, due to a legislative anomaly, they come with a tax benefit. However, that loophole could soon be closed off.

Instead of playing along the rules agreed by 137 countries to raise corporation tax to a global minimum, Democratic Senators have selected the bits that favour narrow American interests – and put international co-operation at risk.

Vat is second only to income tax when it comes to filling the state’s coffers. The sheer volume of money involved means small changes can make a big difference, the Tax Strategy Group’s papers show.

Papers released by the Tax Strategy Group examine options to reduce the burden of capital gains tax on entrepreneurs. While they rule out a headline rate cut, there are other ideas on the table.

For years, the Irish-headquartered medical supplier Covidien outsourced core functions to the US without paying Vat on transactions including preparations for its acquisition by Medtronic. The company’s successful tax appeal is now going down the legal route.

A property developer borrowed millions from his company and never paid any tax. When challenged, the company said its owner was acting illegally. The resulting case has shone a light on the tax implications of so-called “soft company loans”.

The Irish tax authority has warned about the flow of Irish pensions to “opaque, risky” and tax-efficient structures in countries like Malta. New figures reveal the volume of pensions being moved.

Years of restructuring at the cybersecurity multinational NortonLifeLock have left it with just two subsidiaries in north Dublin: one booking sales around the world, and one managing the group’s cash and intercompany debt. Meanwhile, Google reports exponential growth in card payments processed in Ireland.

Last year’s global tax deal now comes with draft “Pillar one” provisions detailing how much taxable profit will be re-allocated to market countries, and where from. This is what it means for multinationals operating here.