Months before Covid-19, Abbott Laboratories completed the reorganisation of a rapid diagnostics unit across Ireland and Malta. When this business ballooned, profits trickled through the supposedly closed double Irish loophole.
Like so many technology multinationals, Airbnb ran intellectual property through US and Irish loopholes to minimise its tax bills over the past decade. After failing to convince the IRS its figures were right, the firm is prepared to go to court.
Having lost a landmark case over a major tax scheme, the Irish tax authority has been told to pay all of the costs of the case. Undeterred, it is now challenging the Berlin bond scheme in the Court of Appeal.
The former directors of a luxury car importer and exporter are being pursued for the tax debts of the company, which are said to exceed €2 million.
On the basis of his word alone, a property investor tried to convince Revenue he was entitled to €750,000 in loss relief arising from a string of major property deals. It didn't go well.
Four significant media and entertainment investors used a complex Berlin bond tax scheme to essentially wipe massive sums off their tax bills. Now, in a major decision, the High Court has ruled in their favour.
Many medical and other professionals have transferred their trade to a company. Now a doctor has been found personally liable for tax on fees earned through the new structure.
After changing hands twice, the debt of farmers who had borrowed from ACC ended up in a dual structure set up by CarVal under new rules governing Section 110 companies. How successful has it been in reducing the vulture fund’s Revenue bills?
The financial crisis and its fall-out exposed the egregious securitisation of high-risk home loans and the exploitation of Irish tax loopholes by global vulture funds. A recent deal unveiled by The Currency last week brings back the memories.
When the Double Irish was shuttered, it was replaced with the Green Jersey and the utilisation of intercompany debt structures. It fits a familiar pattern: when one tax loophole closes, another one is usually prised open.
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