‘Double Irish’ tax loophole may close

Changes to Ireland’s controversial ‘Double Irish’ tax regime for foreign companies based here could be implemented in next month’s budget, Jobs Minister Richard Bruton has signalled.

Amid pressure from the OECD to close a loophole in the tax code that allows foreign firms pay less tax, Mr Bruton said concerns would be addressed in the budget on October 14. Ireland needed to move “prudently”, he said.

“The OECD have their work half done so we need to consider their report and see what changes we might make at this stage.”