Calls for help to close tax loophole

The Department of Finance is calling for international co-operation to tackle tax-dodging corporations but it is refusing to comment on whether or not it is closing the “double Irish” loophole.

A spokesperson for the department of finance refused to comment on reports at the weekend that Ireland was to bow to international pressure and end the practice of allowing companies have dual residency for tax reasons.

“Tax planning structures, by their very nature, often seek to take advantage of differences in or mismatches between different countries tax systems,” a spokesperson for the department said. “The only way to effectively tackle this is at international level through the OECD. for example.”