The Irish government announced in its 2015 Budget the abolition of the double-Irish structure and its intention to introduce an income-based system for the taxation of intellectual property, which it is calling a Knowledge Development Box.
The Irish government announced in its 2015 Budget today the abolition of the so-called double-Irish structure and its intention to introduce an income-based system for the taxation of intellectual property, which it is calling a Knowledge Development Box.
Fifty countries, including 26 of the EU’s 28 member states, though not the US, have signed up to be early adopters of the Common Reporting Standard (CRS), the instrument unveiled by the OECD in July to implement the global exchange of tax information.
The Revenue Commissioners in Dublin have published guidance notes on America’s Foreign Account Tax Compliance Act (FATCA), giving financial institutions in Ireland more information about how they should comply with the due diligence and reporting requirements in the controversial law.
The impact on companies of a string of senior-level departures from the Internal Revenue Service in the US earlier this year got another airing during the dispute resolution and controversy management panel of International Tax Review and TPWeek’s 14th annual Global Transfer Pricing Forum in Washington, DC last week.
