US companies including Apple and Google could be hit with demands for billions of dollars after Ireland yesterday unveiled plans to close the ‘Double Irish’ tax loophole.
However, a new tax break and pressure to tackle avoidance elsewhere in the world means US companies are unlikely to depart from the struggling eurozone economy.
Analysts and tax advisers predict that corporations which need access to the European Union’s 500 million consumers will find it difficult to set up equally effective schemes in other member states, as Brussels investigates other arrangements that involve paying minimal tax rates
Well, Holland, as far as I know, has a 5% tax rate for royalties. So the Dutch Sandwich will still work pretty well. Tax rates might end up being higher than they have been but not all that much is my prediction.