Double Irish off: impact on biopharma companies
This article was originally published in Scrip
Executive Summary
This week the Irish government announced that it is to close off the "Double Irish" tax avoidance opportunity that enables firms to register in Ireland but take tax residency elsewhere. The scheme, used by companies to shift revenues from Ireland to off shore tax havens, will be blocked from 1 January 2015, when new Irish residency rules requiring all companies registered in Ireland to be tax resident there will come into effect.