The Echo Chamber from Tortoise Shack 1457. Ireland’s One Trillion Euro Tax Mirage
May 17, 2025
Aidan Regan, UCD Professor of Political Economy and author of the Tax Mirage report, delves into Ireland's complex relationship with multinational corporations. He reveals how intellectual property is reshaping the economy, highlighting the discrepancies in tax policies and profit classification. The discussion uncovers the illusion of economic prosperity, analyzing the risks posed by reliance on foreign investments. Ultimately, Regan calls for a courageous reimagining of Ireland's economic framework to prioritize local businesses and ensure genuine prosperity.
AI Snips
Chapters
Transcript
Episode notes
Ireland's $1 Trillion IP Mirage
- Ireland hosts about $1 trillion in intellectual property assets for US multinationals, a huge amount for its size.
- Much of this IP isn't real physical assets but exclusive licenses shifting profits into Ireland.
What Intellectual Property Means
- Intellectual property means patents, software, brands, and licenses, often invisible but valuable assets.
- Multinationals locate exclusive licenses in Ireland to funnel revenues and profits through Irish subsidiaries.
Government's Awareness of IP Shift
- Irish government likely aware IP shifting happens but may lack full understanding of its complexities.
- Ireland creates regulatory conditions attracting IP despite unclear notion of real economic substance.