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Anti-tax avoidance measures 'a fraction of what’s needed' warns Sinn Fein

Written by Robert McHugh, on 13th Oct 2016. Posted in General

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Anti-tax avoidance measures introduced in Budget 2017 are “much too little, far too late” according to Sinn Fein MEP, Matt Carthy.

Carthy, a member of the European Parliament’s Panama Papers inquiry, says disclosure requirements should be mandatory and should be applied across the board including existing offshore assets.

He further claims that the "double Irish" is firmly in place indefinitely for companies that use a country that Ireland has a tax treaty with. So tax havens and conduits like Malta are the new partners for multinationals wanting to use Ireland to shift profits offshore he claimed.

According to Sinn Fein MEP, Matt Carthy, "The elephant in the room during the Budget 2017 announcements was the ruling that Apple had received an illegal selective advantage that allowed it to underpay Irish taxpayers by 13 billion euro. The review announced by the Government and included in the Budget is a mere confidence trick."

He added, "The response to the Apple tax ruling should have been the public inquiry that Sinn Fein demanded, not the appointment of a single economist to carry out a review with extremely narrow terms of reference. It is much too little, far too late."

Source: www.businessworld.ie

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