Ireland's Corporate Tax System is a central component of Ireland's economy. In 2016–17, foreign firms paid 80% of Irish corporate tax, employed 25% of the Irish labour force, and created 57% of Irish
Former Finance Minister, Charlie McCreevy, reduced Irish corporate tax from 32% to 12.5% in the 1999 Finance Act, and his 1997 Tax and Consolidation Act laid the framework for Ireland's BEPS tax tools.
Ireland is ranked as one of the largest global Conduit OFCs in terms of connections to corporate tax havens, the largest global Tax Haven in terms of quantum of profits shielded, and the 3rd-largest global Shadow Banking OFC.
Irish Corporation Tax as a % Irish Exchequer Tax has between 10% and 16% of Total Irish Tax. Source: Department of Finance (Ireland)
Effect of Ireland's Corporate Tax system on Ireland's relative GNI-per-capita to the EU average
Tax inversion
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A tax inversion or corporate tax inversion is a form of tax avoidance where a corporation restructures so that the current parent is replaced by a foreign parent, and the original parent company becom
Annual number of US corporate tax inversions (1983–2016). Source: Federal Reserve Bank of St. Louis.
Assets of completed and aborted US inversions (1994–2015). Source: Congressional Budget Office.
The effective headquarters of Medtronic in Fridley, Minnesota, United States
The legal headquarters of Medtronic in Dublin, Ireland