Ireland's Corporate Tax Revenues Soar, But Global Backlash Looms Over Tax Haven Status
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Ireland's corporate tax revenues have increased 5-fold since 2014, reaching nearly 23 billion euros last year.
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The increase is largely due to US companies routing more profits through Ireland to avoid higher taxes elsewhere.
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Just 3 companies paid a third of Ireland's corporate taxes from 2017-2021, with Apple being the largest.
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The EU and US are likely to clamp down on Ireland's low tax rates that allow it to freeload off others.
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Ireland benefited from attracting investment due to low taxes, but global tax changes have now turned it into a tax haven parasite.