Determination will be required - International tax laws

THERE are as many views on how the loopholes offered by myriad national tax laws can be exploited to cut corporate tax bills as there are opinions on how they might be reformed to better support the societies that host transnational entities. 

These range from the view expressed by Apple’s top lawyer, Bruce Sewell, that governments exploit tax loopholes to penalise international businesses rather than the reverse of that accusation, to the occasional, quaint suggestion that these corporations might be nationalised.

European Competition Commissioner Margrethe Vestager was in Dublin yesterday where she answered questions from Oireachtas members on the European Commission finding that Apple owes Ireland €13bn in taxes, a ruling our Government and Apple have appealed. It is likely it will be many years before a conclusion is reached on that thorny issue.