Sunday September 27, 2020

The end of the affair?

The tax loopholes which once lured high-tech multinationals to Ireland are closing as European tax officials rewrite the law. So will they stick around, or were they just here for the money? Philip Connolly reports.

26th January, 2014
One Google company managed to pay just €17 million in Irish corporation tax in 2012 on a turnovver of €15.5 billion. Picture: Bloomberg

As European governments queue up to reap more money for state coffers from firms such as Google, Facebook and Apple, Ireland's generous multinational tax policies may be fast becoming irrelevant.

Across Europe, laws are being rewritten and a small army of tax officials has been tasked with ending the days of multinationals saving billions in tax through a variety of loopholes, many of which involve Ireland.

With those loopholes closing fast, it now seems a...

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