IRISH TAX LAWS have come under staunch criticism from US President Barack Obama, who said that companies are taking advantage of this by “magically becoming Irish”.
He said that companies are locating a small number of employees here, despite having significantly more in the United States, and that he intends to close the loophole that allows them to do this.
However, IDA chief Barry O’Leary has said that the organisation is not in favour of such ‘inversions’, but that companies who have done so have over 1,000 people in Ireland, RTÉ reports.
The European Union is currently investigating one deal in Ireland – Apple’s 2% tax rate.
We want to know what you think: Should Irish tax laws be reviewed in order to prevent companies ‘gaming’ the system?