Unlimited number of ways to reduce company tax bill

IN THE case of many multinationals it is unclear where the money goes, or what, if any, tax is paid on it, because the companies use set-ups that are not required to publish accounts. The unlimited company in Ireland is one example.

Adobe headquarters in California. The company employs 120 people in Dublin, 1% of its global workforce; three are engaged in software R&D.

A close examination of one company that does publish accounts — Adobe Systems, one of the world’s largest software groups — gives a detailed insight into one way the centralised permanent establishment (PE) arrangement works.