Despite impending changes to global tax legislation, and greater political, shareholder and public scrutiny, the trend is unlikely to diminish
On the face of it, the argument for reducing tax bills is clear. After all, when there are so many alternatives, should companies really accept average effective tax rates of around 40%? Some US multinationals, using the highly successful, or much reviled (depending on your philosophical bent) ‘double Irish Dutch’ tax avoidance scheme have reduced effective tax rates on overseas earnings from 40% to a tiny 2.5%. The sums involved are enormous.
