Full coverage: Tax

According to Revenue, persons in control of Phoenix-type businesses may take steps to conceal these criteria. Now the tax authority claims that this is the case in relation to a Wexford logistics business.

Using a green Bermuda corporate structure, the US group’s lucrative EMC cloud division is continuing to shift $8.6 billion and counting in profits from sales booked in Cork to the zero-tax Caribbean jurisdiction.

Budget Day was initially disappointing, with red tape keeping tax measures intended to support start-ups accessible only to large corporations. But amendments to the Finance Bill show the mood music is changing.

The short term woes of pharma companies mask a sector that is performing well, and performing well for Ireland.

The advocate general’s opinion shows that the EU court will either conclude that Ireland never did anything wrong in the old double Irish days, or vindicate its shift towards the even more lucrative green jersey scheme.

Is the corporation tax surge over? The short answer is no. What is over is the era of ever-expanding tax takes. We are dependent on a small number of firms doing very well. Their granular success is ours: When they have a down quarter, so do we.

Why is the energy drinks global giant expanding its Co Kildare factory at a time of high inflation and rising corporation tax rates? The answer lies in the fine print governing tax deductibles.

The Department of Finance’s reference to weak pharmaceutical exports identifies the US pharma multinational as the latest contributor to the fall in corporation tax receipts below last year’s level for the first 10 months of 2023.

The EU Tax Observatory names Ireland as the joint top destination for multinationals to shift profits and cut corporation tax. Economist Gabriel Zucman says new global rules will benefit Ireland in the short term but believes the tax-competitive model is doomed.

With all EU countries obligated to impose the 15 per cent minimum corporation tax rate from next year, a multi-billion-dollar subsidiary of the semiconductor giant straddling Ireland and Malta is moving away from Dublin. But where will the tax be paid eventually?