Ireland to Phase Out Tax Break Used by Technology Firms
October 14, 2014
After years of debate over tax breaks that have helped lure big multinational corporations to Ireland, the Irish government said that it would phase out a measure used by technology companies including Google to reduce their bills.
The tax provision, which has attracted the scrutiny of European Union regulators and is known as “double Irish,” will end next year, although companies already using it will be able to do so until the end of 2020. Despite the long phase-out period, the move reflects the growing pressure from regulators, international organizations and consumers to get more tax revenue from multinationals adept at exploiting different nations’ tax laws.
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