Changing Landscape

Ireland finds itself on the wrong side of public opinion as tax havens attain pariah status. However, the country’s low corporate tax rate means it is a hostage of multinationals, writes John Walsh.

PERCEPTION often has a way of becoming a reality. Consequently, if enough people think Ireland is a tax haven then, regardless of whether it is or not, it is a tax haven.

In an era of unprecedented fiscal consolidation and austerity across most western countries, any sort of tax avoidance is becoming an increasingly frowned-upon practice. Tax havens have attained pariah status.