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Ireland will eliminate Apple's sweet tax deal within four years

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Apple's European headquarters in Cork, Ireland

Apple and other tech giants had better not lean too heavily on Ireland's super-favorable tax environment; at least one big perk is going away. Finance minister Michael Noonan has detailed a new budget that, among other things, will phase out the "double Irish" system that let companies operating in Ireland (including Apple) move their revenue to an Ireland-registered offshore tax haven. As of 2015, companies incorporated in the country will have four years to make sure that they're also tax resident -- that is, they'll pay the same as any other corporation operating on the Emerald Isle.

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Via: The Guardian

Source: Department of Finance


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