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Fri 11 Nov 2008Irish operations of US firms made $48bn profit in 2005
THE FULL scale of the profitability of US investment in Ireland has emerged for the first time in official data which shows that the Irish operations of American firms made net profits of $48 billion in 2005, the latest period for which figures are available.
As president-elect Barack Obama prepares to take office after campaigning to broaden the US corporate tax base by reforming rules that enable firms to shelter their overseas profits from the US tax authorities, figures indicate that the profitability of US subsidiaries in Ireland is second in Europe only to the Dutch subsidiaries of US firms.
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