September 30 2016
Ireland, accused of being a tax haven for multinationals such as Apple to pay nearly zero tax on the bulk of its profits earned outside the United States, finds itself with a new adversary in the global fight against unfair tax practices — Brazil.
As of October 1, Brazil will add Ireland to its blacklist of tax havens, where it will join Panama and Monaco. As a result, any company based in Ireland will have to pay a 25% tax rate instead of 15% on its Brazilian earnings. The G20 and some other nations have agreed to new rules, including the exchange of information between tax authorities. The new rules are already in place and have started being phased this year.