According to Professor Jim Stewart of TCD, Ireland’s industrial policy is too tax-dependent and he suggested that policymakers were overly influenced by tax professionals who work for the major accounting firms that devise the tax strategies of the multinationals.
Up to €40 billion, or almost half, of the annual profits made by Irish-registered companies fall outside the corporate tax net because so many multinational subsidiaries here declare they are tax resident elsewhere. (read more in this Irish Times report).
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