A number of big multinational companies have moved their intellectual property (IP) to Ireland in recent years. Big profits accrue from the use of these IP assets. However, because of the scale of investment made by firms in building up their IP , there are also big tax allowances – know as capital allowances – which mean these profits can be sheltered from tax from lengthy periods. Sinn Féin proposes to apply the 80 per cent rule on IP moved here between 2015 and 2017. To present this as additional ongoing tax for the exchequer would not be correct.”His point is that the change would just lead to companies paying tax earlier.

Source: The Irish Times January 29, 2020 14:15 UTC