For Ireland and Apple to claim that the mechanisms the latter used for tax management have been in place for 30 years is beside the point. The world is changing. What was deemed acceptable in the past is becoming unacceptable. To protect Ireland’s foreign investment model over the long term, the Government must be – and must be seen to be – more proactive in closing corporate tax avoidance loopholes. If that does not happen in a targeted fashion by the Irish authorities, other actors elsewhere may force changes that could lead to a shrinking of the multinational sector with potentially enormous damage to Ireland’s prosperity.
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