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Oct
2013
28

Income at Tax-Safe Irish “Subsidiaries” of US Companies Ballooning at 20 Times the Rate of Job Growth

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While much of the corporate tax evasion crisis has been focused on the “Dutch sandwich,” Ireland’s role in helping multinational avoid paying American taxes could lead to the term becoming known as the “Black Pudding on Soda Bread.”  Well, maybe not. But this new infographic from Bloomberg shows how Ireland’s profits have soared while the tax revenue from Irish subsidiaries of American companies has plummeted.  

According to the U.S. Commerce Department, American companies attributed $95 billion in profits to Irish subsidiaries in 2010.  This was up 700 percent from 2000 when the number was $13 billion.  Over that period, actual employment in Ireland grew by less than 10 percent.  During this period, tax rates reported from Irish subsidiaries dropped from 9 percent to 3 percent.  

The graphic is too large to embed here, so click on through to the other side.

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