Ireland has jumped into the top-10 ranking of global tax havens. According to the Tax Justice Network, which campaigns for tax transparency, the country has passed the Bahamas to become the ninth most significant tax haven. The British Virgin Islands, Cayman and Bermuda currently top the list. The Tax Justice Network uses a points-based ranking that factors in a country’s amount of corporate financial activity (including money flows) and its transparency and available tax-saving opportunities. Of note, Ireland recently received $14 billion in back taxes from Apple. The European Court of Justice ruled that the country’s favorable tax treatment toward Apple was unlawful.
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