clever dicks in google

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Colm Keena writes in the Irish Times

The filings indicate the multinational’s effective tax rate has dropped from 39 per cent to 31 per cent, indicating it is saving approximately ?100 million a year in taxes via its Irish business.

“This is primarily because proportionately more of our earnings in 2005 compared to 2004 are expected to be recognised by our Irish subsidiary, and such earnings are taxed at a lower statutory tax rate (12.5 per cent) than in the US (35 per cent),” according to the document.

Welcome to Ireland, Cead Mile tax loop holes. (for the rich businesses and their owners)