$40 billion in treasury bills leaves Ireland after Trump’s tax move

$40 billion in treasury bills leaves Ireland after Trump’s tax move

The huge reduction in treasury bills, which companies hold because they are easily transferred into cash, would indicate that American multinationals based in Ireland transferred some of their overseas profits back to the US

More than $40 billion of US cash has fled Ireland in less than a year since the American government unveiled a major overhaul of its company tax laws.

New figures released by the US Treasury Department in recent weeks show that Irish-based entities held $279 billion of short-term US debt at the end of November last. That was a reduction on the $324 billion held by entities in this state at the same point in 2017,...

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