Double Irish to be abolished

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Brendan Burgess

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Our residency rules will be changed so that all companies resident in Ireland will have to be tax resident

Phased in for existing companies up to 2020.

Effective for new companies immediately.
 
I never even heard this phrase before yesterday, what exactly does it mean? How did/does it work?
 
The double Irish arrangement is a tax avoidance strategy that some multinational corporations use to lower their corporate tax liability. The strategy uses payments between related entities in a corporate structure to shift income from a higher-tax country to a lower-tax country. It relies on the fact that Irish tax law does not include US transfer pricing rules.[1] Specifically, Ireland has territorial taxation, and hence does not levy taxes on income booked in subsidiaries of Irish companies that are outside the state. In the late 1980s, Apple Inc. was among the pioneers in creating this tax structure.[2]

http://en.wikipedia.org/wiki/Double_Irish_arrangement


Double Irish With A Dutch Sandwich
http://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp

Full Irish

Enjoy:)
 
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