DUBLIN (Reuters) – Ireland decided to close a loophole that multinationals used to save billions of dollars because it was becoming a “slur”, threatening a low-tax regime that has created tens of thousands of jobs, Finance Minister Michael Noonan said.
Noonan announced the phasing out of the much-criticized “Double Irish” tax arrangement under sweeping changes to the country’s corporate tax structure in Tuesday’s budget, the first in seven years without new austerity measures.
DUBLIN, Oct 14 (Reuters) – Ireland will phase out a tax
loophole that multinationals use to save billions of dollars as
part of sweeping changes to its corporate tax structure
announced in Tuesday’s first austerity-free budget in seven
The ailing euro zone has pointed to Ireland’s economic
resurgence as proof that its austerity policies can work. But
Dublin has also faced criticism over the past 18 months from
both the European Union and the United States for tax rules that
have enabled firms such as Google and Apple
to cut their overseas tax rates to single digits.
DUBLIN, Oct 14 (Reuters) – Ireland is set to announce
sweeping changes to its corporate tax structure in its budget on
Tuesday, phasing out a loophole that has allowed multinationals
to save billions of dollars in tax on their worldwide income.
The country has faced sustained criticism over the past 18
months from other European Union members and the United States
for its tax rules and Finance Minister Michael Noonan is
expected to lay out plans to end an arrangement that has enabled
firms such as Google and Apple to cut their
overseas tax rates to single digits.
DUBLIN (Reuters) – Ireland is set to announce legal changes next week to phase out the “Double Irish” tax arrangement that has let firms such as Google (GOOGL.O: Quote, Profile, Research, Stock Buzz) save billions of dollars, two sources familiar with the matter said.
Ireland has come under sustained attack from Europe and the United States over the past 18 months for its tax rules that allow multinational companies such as Google and Apple (AAPL.O: Quote, Profile, Research, Stock Buzz) to cut their overseas tax rates to single digits.
DUBLIN (Reuters) – Ireland’s central bank proposed restrictions on how much banks can lend to home buyers on Tuesday in a bid to reduce the risk of a new property bubble forming as prices recover rapidly from a crash.
A combination of reckless lending and lax regulation during Ireland’s “Celtic Tiger” era helped fuel a property bubble that dragged the country into an international bailout after it burst and left the surviving banks in need of expensive state rescues.
Once staunchly Catholic Ireland will hold a referendum to remove the crime of blasphemy from its constitution, an offense now punishable by a fine of up to 25,000 euros ($31,600) but which has probably not been prosecuted since the 19th century.
The Roman Catholic Church’s public influence has been on the wane in Ireland since the 1980s, particularly after a string of child sex abuse scandals.
DUBLIN (Reuters) – Sinn Fein president Gerry Adams said Scotland’s “inspiring” referendum on independence would accelerate a vote to unite Ireland, a prospect quickly dismissed by Unionists who share power in Northern Ireland.
Scotland spurned independence in a historic vote that threatened to rip the United Kingdom apart but an electrifying campaign has emboldened separatist movements across Europe from Catalonia to Flanders.
DUBLIN (Reuters) – Ireland’s economy grew 1.5 percent in the second quarter to rise a whopping 7.7 percent from a year ago, levels that economists said may allow the government to raise again growth forecasts it just upgraded last week.
Less than 12 months out of a three-year EU/IMF bailout, Ireland is bucking the trend in the euro zone’s stalled recovery. Employment is growing strongly, exports are rebounding and consumers are beginning to spend again.
DUBLIN (Reuters) – Ireland’s government upgraded its growth forecasts for the second time in a week and said no new austerity measures would be needed in next month’s budget, after figures released on Thursday showed the economy surged ahead in the second quarter.
The economy grew 1.5 percent in the second quarter to rise a whopping 7.7 percent from a year ago, central statistics office (CSO) data showed. Ireland also sold short-term debt at a yield of zero percent For the first time ever.
CORK Ireland/PARIS (Reuters) – Ireland’s economy is set to grow by a better-than-expected 3 percent this year and the government has won German backing to refinance some of its bailout loans, the country’s two most senior finance officials said on Thursday.
Finance Minister Michael Noonan upgraded an earlier forecast for growth of 2.1 percent and said the economy would also grow by 3 percent in 2015 after seeing unemployment fall below the euro zone average, retail sales rise and exports rebound.