Google is one of the companies that uses the” Double Irish “. © anp.
The end seems near for Ireland as a tax haven. Under pressure from the European Union and governments, the favorable tax regulations, which are eager multinationals operating from Ireland, changed soon. Reportedly, the legislative changes are announced Tuesday, wrote business newspaper Wall Street Journal today.
The so-called ‘Double Irish’, uses a twist in the Irish legislation in the area of royalties for intellectual property. This allows companies and subsidiaries impunity with billions slide in order to come out. Include taxes
It is not yet known how long it takes before the legislation is modified. According to the newspaper are multinationals, especially in the technology sector and in the pharmaceutical industry busy making a battle plan should the legislative changes are made.
Companies that use Irish legislation include Facebook , Google and VMware.
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