DUBLIN May 26 The Irish government is examining
options to close a loophole in its tax system that has allowed
multinational companies to significantly reduce taxes they pay
on profits, the Sunday Business Post newspaper reported.
Ireland has been criticized by British and U.S. legislators
in recent weeks for the fact that multinationals like Apple
and Google reduced their global tax bills by
channelling profits through Irish subsidiaries.
The Sunday Business Post said Ireland's finance ministry was
examining options to phase out the "Double Irish", a tax
avoidance technique in which multinationals funnel profits
through two linked Irish subsidiaries.
Google's international headquarters in Dublin made
tax-deductible payments to a Bermudan subsidiary via a Dutch
affiliate in a related arrangement known as a "Double Irish
The Sunday Business Post did not detail what changes might
be made to the Irish tax system.
A spokesman for Ireland's finance ministry did not
immediately reply to a request for comment.
Irish government ministers have said the country's tax
system is fair and transparent and that international efforts
are needed to curb large scale tax avoidance by multinational