The article underscores the challenges Ireland faces regarding multinational taxation amid increasing scrutiny from the EU and concerns over its tax practices. Once labeled a 'tax haven,' Ireland's approach is shifting under international pressure, especially as it participates in the OECD's process for establishing a minimum corporate tax. Despite past measures favoring multinationals, such as the now-defunct double-Irish, there are fears of losing competitive advantages. The importance of accurate reporting of tax receipts, particularly related to significant sums from intellectual property shifts, is also emphasized to clarify Ireland's economic positioning.
It isn't as if we are altar boys in the world of corporate tax. In truth, there are no altar boys in corporate tax.
Ireland agreed to an OECD process for a minimum corporate tax rate but did so reluctant to give up competitive advantages.
Many Irish tax measures viewed as aligning with tax havens have been removed, including the elimination of the double-Irish.
Recent years have seen over €300bn of intellectual property shifted to Ireland, allowing multinationals to bolster profits under lower tax rates.
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