End of the Infamous Double Irish
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More business news than tech, the wildly popular double irish tax move is about to go away much to the chagrin of many companies out there.
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What should we expect from these big tech companies?
Job losses, price rises or both? -
I don't quite follow how companies are saving tax payments (the article isn't in depth enough), But damn! Google saved 2.5 Billion?
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@Dashrender said:
I don't quite follow how companies are saving tax payments (the article isn't in depth enough), But damn! Google saved 2.5 Billion?
It has to do with passing money between two Irish firms. Something about low taxes when money enters an Irish firm from abroad and low taxes when money leaves an Irish firm if it originated in Ireland and no taxes for passing money between Irish firms. So if you have two of them you can lower taxes.
There was a more complicated way to do this that was even better that included the double Irish plus a Dutch firm in the middle.
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Well, that's interesting...
