- Apr 18, 2006
Multinational companies shifted profits through Ireland an accounting technique designed to avoid corporation tax - equivalent to almost a quarter of the countrys GDP between 2010 and 2015.
Profits diverted through Ireland far exceeded those diverted through other EU states, according to a report published by the European Commission on Wednesday, which examines tax rules in Belgium, Cyprus, Hungary, Ireland, Luxembourg, Malta and the Netherlands.
The Commission said that some businesses have exploited loopholes and different tax regulations across member states.
Tax avoidance royalties make up almost a quarter of Ireland's GDP, says EU | The Independent