US Hi-tech companies set sights on ‘Irish tax haven’
Published November 27th, 2005
Business and political leaders may reject claims that Ireland’s 12.5 per cent corporation tax rate makes the Republic a tax haven, but filings by US companies show that they are using their Irish operations to pay minimal tax.Companies are saving hundreds of millions of dollars, and some accounts mention Ireland alongside the Cayman Islands, Isle of Man and British Virgin Islands. Now the US Internal Revenue Service (IRS) and other tax authorities are turning their attention to the issue.Documents filed at the Companies Registration Office in Dublin show that more household names are joining Microsoft, Apple and Google in routing money through Ireland.
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