Is it true to say Ireland is one of the world's biggest tax havens?
Smart Money: Is Ireland’s reputation on tax is taking a big battering
Is Ireland the right place at the right time for phantom investments? The Minister for Business, Heather Humphreys pictured at IDA Ireland’s annual results last year. Photograph: Dara Mac Donaill
As talks on global corporate tax reform reach a crunch stage, the State’s reputation continues to take heavy hits. One recent report said that the bulk of the foreign direct investment here was “phantom” and driven by tax avoidance. Another said that we are one of the world’s biggest tax havens.
With a massive shake-up of the global corporate tax system under discussion at the OECD – which could hit our corporate tax revenues – this relentless battering of Ireland’s reputation leaves the country exposed. But what is the truth behind the headlines ?