Cliff Taylor: Noonan and Donohoe rule-switching could cost €1bn next year
Change in tax treatment of intellectual property and subsequent and reversal hard to fathom
Michael Noonan: in the 2015 budget, he ended the double Irish tax scheme and abolished the 80 per cent rule so firms could claim tax relief on up to 100 per cent of profits from their IP investment. Photograph: Jock Fistick/Bloomberg
Ireland has always tended to give the benefit of the doubt to multinationals when it comes to tax matters. The challenge in recent years has been trying to balance the goal of attracting investment here with international demands to tighten up the rules.
Pretty much every country has been caught up doing the same thing – but we are in the spotlight because of the huge size of the multinational base here and the small size of our economy.