John Bruton* and Kevin Murphy have a piece in the Wall Street Journal pointing out that the furore over Apple's taxation has absolutely nothing at all to do with Ireland. And they're right of course, it doesn't. It's features of the US tax code that lead to the low tax bills, not features of Ireland's. The heart of their point is here: Ireland has a comprehensive taxation system covering income, capital and indirect taxes and has Double Taxation Relief Agreements with 69 countries. The Irish 12.5% corporate tax rate is a general rate for business income. It requires the corporation to have real substance and activity.
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