'Double Irish' Tax Quash Unlikely To Send Cos. Packing
Law360, New York (October 16, 2014, 6:28 PM EDT) -- Ireland's decision to toss the “Double Irish” tax loophole favored by Google Inc. and Apple Inc. indicates that global pressure on corporate tax avoidance is influencing national policy, but the country may be trying to have its cake and eat it too with the simultaneous announcement of new, corporate-friendly IP tax rules.
The Double Irish loophole — which allows multinationals to funnel their intellectual property royalties through Irish subsidiaries and send them to low-tax offshore locations — will peter out by the end of 2020, to the delight of international tax regulators, which have recently turned a harsh eye on the...
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