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Ireland is reportedly looking at closing the "Double Irish" loophole that allows multinational...

Ireland is reportedly looking at closing the "Double Irish" loophole that allows multinational companies to keep their tax bills low by funneling their profits through two linked Irish subsidiaries. Apple (AAPL) is one beneficiary, and another is Google (GOOG), which enjoys what's called a "Double Irish Dutch sandwich" whereby its Irish operations make tax-deductible payments to a Bermudan subsidiary via a Dutch affiliate.
Comments (13)
  • So they will go somewhere else
    27 May 2013, 03:43 AM Reply Like
  • I agree with appl believer! Just hope it is a US friendly country.
    27 May 2013, 04:52 AM Reply Like
  • This tax avoidance is gonna go, societies are aware of these practices, and the bad public image it's gonna hit multinationals back in their face.

     

    The US might wanna lower the tax rate to 26% (empirically tested turned out that this was the rate that would yield maximum tax revenue).
    27 May 2013, 06:43 AM Reply Like
  • USA has a massive deficit that need s to be paid. So i think your going to see a lot of these loopholes being closed. Otherwise USA will go down the drain if they aren't already!
    27 May 2013, 09:12 AM Reply Like
  • Government's hunger for more money is insatiable. This is a situation where that endless hunger is balanced in free markets by the choice of more favorable treatment by some countries that want to attract business and for their countries to receive more of the benefits of investment and jobs.

     

    While to those who believe that all money, dividends, and profits should "belong to the people (governments) and those who believe in "redistribution" for social or political reasons have points to be made, they should compete on "attractiveness" for their economies, not through greed, despite their "good intentions".

     

    In this global economy it is now a fact...business is global and research, headquarters, investment, jobs and tax payments are mobile. They can and do move for a better situation. No longer can single governments greed be endless. Witness what is happening in France. Their absurd taxation is ruining their society and economy.

     

    Whatever your views...remember that "Businesses don't pay taxes...consumers do". Every penny of taxes is passed on to the public in the form of higher prices.

     

    So, if you believe businesses taxes should be increased, you believe that the people should pay more taxes. TANSTAFFL (There ain't no such thing as a free lunch).
    27 May 2013, 09:24 AM Reply Like
  • So now Googles name comes up but not at the congressional barbecue when aapl got grilled....yes Washington needs money and they know where to look for it....
    27 May 2013, 10:49 AM Reply Like
  • Tax loopholes, such as those used by Apple, were made possible by Congress so surely what is going on was no secret. The interesting question is why is it being made public today. No one should expect the situation to fundamentally change even if comprehensive tax reform
    comes about, unlikely as that is with Congressional gridlock. The control of Congress by the corporate sector is greater than ever after the Citizen's United decision. We are seeing new laws being written by corporations for rubber-stamping by Congress. The copy and paste feature of word processors makes this easy.
    27 May 2013, 12:05 PM Reply Like
  • At some point in time, we have to pay for two wars.
    27 May 2013, 12:20 PM Reply Like
  • Even though I own quite a bit of AAPL, I have to wonder about Tim Cook's testimony before the Senate where he says:

     

    "We don’t stash money on some Caribbean island.
    • We don’t borrow money from our foreign subsidiaries to fund our U.S. business in order to skirt the repatriation tax."

     

    Sounds a bit disingenuous- 'we don't stash it-- we move it and use it' --in effect? What happens when it hits Bermuda?
    27 May 2013, 12:27 PM Reply Like
  • The greatest tax haven for foreign companies looking to avoid taxes is the United States. The US refuses to co-operate with many nations seeking information on their citizens' accounts in the US. No, if you are a foreign tax avoider, the US is the place to go.
    27 May 2013, 01:07 PM Reply Like
  • Governments are greedy never ending sucker of the life out of economies. No wonder that there is tax avoidance. Look at France. Try to increase tax rates and reduce salaries of the CEO. 76% tax rates, we are not far behind. It has been proven time after time that same business keep economies afloat not big government. it is funny that Big Government want to stamp out big business and every time they try the economy falters France is a perfect example.
    27 May 2013, 01:44 PM Reply Like
  • Bono uses this tax dodge for all his money not to pay taxes to Ireland.

     

    He uses Netherlands and some other countries to shift it to a safe country.

     

    And yet he wants us to use our tax dollars for 3rd world charity.
    27 May 2013, 05:49 PM Reply Like
  • Bono was instrumental in getting debt relief for many African nations. Through a series of really poor trade "deals," there were nations in Africa that were paying the US $11 for every $1 in aide.

     

    Bono is one of the few "celebrities" who has done something to help the countries in Africa. If he wants to shift his money to countries with a lower tax rate, more power to him.
    This does not take away from the help he has given to Africa and its citizens.

     

    If you consider the nations in Africa a "3rd world charity," then there is probably nothing that I can offer to change your mind.
    27 May 2013, 09:16 PM Reply Like
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