Ireland is third biggest US tax haven | The Sunday Times

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Ireland is third biggest US tax haven

Sarah McInerney Published: 26 May 2013

The Apple logo is displayed on the exterior of an Apple Store on April 23, 2013 in San Francisco, California. (Picture: Justin Sullivan) Ireland has been described as the third biggest tax haven for US firms (Picture: Justin Sullivan)

IRELAND has been named the third biggest “tax haven” in the world for US profits, according to research conducted at Trinity College Dublin.

In a paper on effective corporate tax rates in Ireland, Jim Stewart, a senior lecturer in finance, claims American companies in Ireland paid tax of 4.2% on more than €80bn of net profits in 2008.

Stewart lists Ireland as one of six countries in the world “with tax haven/low-tax features”, which account for more than 60% of global US profits.

The biggest tax havens are the Netherlands and Luxembourg, while Bermuda, Switzerland and the British Caribbean islands are below Ireland.

Last week, the Irish government was forced to deny claims made at a US Senate committee hearing that the country was acting as a tax haven for Apple, the technology company.

Enda Kenny, the taoiseach, and Eamon Gilmore, the tanaiste, both said Ireland’s corporation tax rate of

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