IRELAND IS aiding the robbery of billions of euro worth of tax revenues from poorer countries, according to six leading global development organisations.
Dr Sheila Killian of the University of Limerick – who is publishing a book on behalf of the six organisations today – said a minority of multinationals are abusing Ireland’s low corporation tax rate to cut costs and avoid paying tax where they should.
Some companies with very little presence in Ireland – in terms of employment and manufacturing – are sold goods and services by foreign sections of the parent multinational. By selling on the produce from Ireland, these multinationals can avoid the higher tax rates in the original country and instead pay Ireland’s relatively low 12.5 per cent.
Driving the Getaway Car? Ireland, Tax and Developmentis available for download at debtireland.org