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"Double Irish" Tax Loophole Used By US Companies To Be Closed
An anonymous reader writes: The Irish Finance Minister announced on Tuesday that Ireland will no longer allow companies to register in Ireland unless the companies are also tax resident. This will effectively close off the corporate tax avoidance scheme known as the "Double Irish" used by the likes of Google, Apple, and Facebook to route their earnings through their Irish holdings in order to garner an effective tax rate of, as in Google FY2013, 0.16%. Ireland's new policy will take effect in 2015 for new companies. "For existing companies, there will be provision for a transition period until the end of 2020."
Why wouldn't people just use the system of "where your customers pay you" for any multinational company to determine "where to tax is owed"? Much simpler and fairer between different nations.
You know, like how IKEA is organized? Google could set itself up as a charity dedicated to the preservation of web sites.
Mostly random stuff.
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That's the Scottish. Scottish men wear skirts like cowboys wear jeans.
Do ye know why it's called a Kilt?
Because I kilt the last man who called it a skirt.