Apple and other multinational companies that have been exploiting the notorious Double Irish tax loophole for years will have to look elsewhere for a comparable tax dodge.
The Irish government’s budget, presented on Tuesday by Finance Minister Michael Noonan, closes the loophole. The country’s residency rules have been amended to require that all companies registered in Ireland be tax residents. New companies will be subject to the new law starting Jan. 1, 2015. Existing companies will have until the end of 2020 to make the transition.
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The Double Irish Jig Is Up
Posted by: Richard Adhikari October 14, 2014 01:37 PMApple and other multinational companies that have been exploiting the notorious Double Irish tax loophole for years will have to look elsewhere for a comparable tax dodge.
The Irish government’s budget, presented on Tuesday by Finance Minister Michael Noonan, closes the loophole. The country’s residency rules have been amended to require that all companies registered in Ireland be tax residents. New companies will be subject to the new law starting Jan. 1, 2015. Existing companies will have until the end of 2020 to make the transition.